Do headhunters are aware of which groups within each banks are good/bad? How would they view someone from a leading industry/product team at Barclays/UBS vs. someone from a weak group at MS/GS/JPM?
In short, is it worth it to join the best group and grind hard at a tier 2 bank or exits will be the same from a less intense team at that bank?
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Based on the most helpful WSO content, headhunters are indeed aware of the reputations of different groups within banks and how they perform. They often have a good understanding of the market and keep track of which groups are considered strong. Here's a breakdown of how they might view candidates from different scenarios:
Leading Industry/Product Team at Barclays/UBS: A candidate from a top group at a bank like Barclays or UBS is likely to be viewed positively. Headhunters understand that these groups have strong deal flows and that the analysts working there have solid experience.
Weaker Group at MS/GS/JPM: Even if a candidate is coming from a less prestigious group within a top bank like Morgan Stanley, Goldman Sachs, or JPMorgan, the overall brand and training of the bank carry weight. However, the candidate may need to demonstrate their individual capabilities and achievements more than someone from a stronger group.
Regarding the decision to join a top group at a tier 2 bank versus a less intense team at a tier 1 bank, it's important to consider the following:
Exit Opportunities: Strong groups at tier 2 banks can provide excellent exit opportunities, especially if you perform well and can leverage that experience. The reputation of the group can sometimes outweigh the overall bank's prestige.
Work Intensity: A less intense team at a tier 1 bank might offer a better work-life balance, but the trade-off might be less hands-on experience and potentially fewer high-profile deals.
Individual Performance: Ultimately, headhunters and future employers will look at your individual performance and contributions. Being a standout analyst in any group can lead to good exit opportunities.
In short, it can be worth it to join the best group at a tier 2 bank and work hard, as this can lead to strong exit opportunities. However, the prestige of tier 1 banks also carries significant weight, and strong performance there can open doors as well. It's a nuanced decision that should be based on personal career goals, work preferences, and the specific opportunities available to you.
Sources: Best Headhunting Shops ?, mid tier bb's and eb comparison, Hedge funds vs. Mutual funds, Networking into a Hedge Fund? It's Unstructured., Citi vs CS vs Barclays for IB
Thats a pretty broad question given the quality of HH varies significantly and their actual knowledge of who they're recruiting for or from varies too. From my experience, HH are looking for an easy fit (e.g. WF consumers group MS consumers group, or ABS to ABL, DCM to IG bond rating agency) so the closer to easy it is, the better. That said, there are some who have been in recruiting for years and know the ins and outs of every firm, and know the good teams. So as always, it depends, but you tend to be able to tell which HHs know their stuff from just talking with them. Also, HH will just get you an interview, you still need to get the offer after the interview, and only way to do that is showing you've had a quality experience that meets the needs of the job
Agree with the above poster, it's very broad and varied. I've worked with HHs that were pretty bad and sprayed the market while others know your firm intimately well (knows who the Group Head is, deals the team typically works on etc). Its safe to assume the latter HH had the best roles they are searching for. Also it depends on what group at MS/GS/JPM, if its IG DCM there versus Barclays Industry, you probably should go with Barclays. Also if you want to leave the industry, having GS/JPM/MS would open a couple more doors.
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