Job Title: Analyst
Location: New York, NY
Submitted on: 04-Feb-03
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A few years ago, BAS, it was still in many ways like
the old Montgomery. Most of the old Montgomery guys
had left, but the company still had a West Coast feel
and was less uptight than many of the more established
New York banks. Over the years, BAS has tried to
break into the bulge bracket but has struggled to gain
market share, hovering somewhere towards the back of
the top 10 (if not even further back) in most domestic
league tables. A positive is that BAS has fired far
less people than other banks, and in fact has been
hiring many people at the MD and VP level.
Unfortunately, most of those new hires are simply
castaways from other banks. Additionally, BAS has
hired far less new people at the Associate level, and
virtually no Analysts (who we all know do all the
work). This means that roughly the same amount of
junior people have to support a larger number of
senior bankers. In other words, get ready for many
late nights and work every weekend.
There are still a lot of great people at BAS, and the
firm is a great place to learn the business because of
the good deal flow-per-person. But many of the
qualities the bank has in the 90's (relaxed and fun
culture, no face time, great comp) are now gone. In a
sense, the people who run the place probably got
exactly what they wanted - what was a West Coast
boutique is now barely distinguishable from any other
Wall Street firm.
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