Originally Posted by
Calchas
"Bulge bracket" covers a few different banks and probably hundreds of thousands of analysts doing all sorts of different work, but where I work the graduate programme is centrally structured. Aside from the integration trip to the corporate HQ, I don't hear about analysts travelling internationally.
Spending is supposed to be done on the corporate card, other reimbursements over a certain limit have to be signed off by people who don't like extra paperwork and may forget about it. We also have a few enormous discounts not available to the general public, I assume they cannot be booked except through the proper channels. Anyone of moderate seniority will have someone who arranges travel for them anyway.
Originally Posted by
Killian_S
I started out as a first year in M&A at a bulge-bracket, and I barely made Silver in my first year (you are practically chained to your desk churning out powerpoint presentations and excel models). My boss (MD) made Gold, but nothing more. In equity research you would travel a bit more, but as a first year I wouldn't count on it.
Thanks! So I presume the 20 something GGL's are all in consulting? Previously I was under the impression that it was consultants, as well as young M&A bankers that travelled (in M&A, structuring deals with clients all over) (and that degree of travel actually decreased with seniority, because of family commitments etc and lack of will to spend so much time in planes/hotels).
And by "bulge bracket" I just meant a very general way of generalising UBS, Goldman, Citi, Morgan Stanley etc etc
If work travel is something that you want to have (even in your first years) are there any particular banks, or specific functions within them that seem to have allow more of it?
Thanks again for the insights.