How is working in financial industry especially IB on the west coast like L.A., SanFran compared to east coast (NYC)? What are the major differences?
fewer jobs? better weather?
… getting to the office by 4:30ish…
people in IB don’t get to the office by 4:30AM unless they have an international conference call. they don’t work around market hours. if a deal is live, then all lifestyle bets are off; otherwise, people usually head to the office anytime between 8:30AM and 10:00AM. the same is true on the east coast. on another note, most of the people i know doing banking on the west coast seem to work marginally fewer hours than their east coast counterparts, assuming it’s the same type of product or industry group…but i have no idea if this is really the case or if it’s just anecdotal evidence from my friends. on the other hand, there are other groups like GS TMT, MS Tech, CS M&A, UBS LA, among others that are on the west coast but don’t exactly have a “laid back” lifestyle as you might think just because they’re on the west coast. for the most part, being in SF or NY really depends on your geographical preference. people say that it’s better to do banking on the west coast if you’re hoping to get a VC job or something else in the silicon valley, but recruiting will be strong as long as you are a solid candidate. i interviewed with several west coast PE jobs when i was looking to move to the buy-side, and while it was obviously less convenient to have to fly out to california since i was based in NY, potential employers will definitely take care of you if they think you’re a good potential fit, regardless of where you’re located.
I think the main drawback on the left coast is that your density of professional colleagues is likely to be lower. Out of sight, out of mind, so to speak. But I’m a native Californian, and even though I love New York, there are very nice things to be said about the California lifestyle, especially around the bay area.
I oftentimes wonder why I’m in NYC and not in the Bay Area… For what it’s worth, a few people from my shop went out to SF and all have stated that they are never coming back. Even assuming equal hours, I have to imagine that the quality of life is better in NoCal, given the ease with which you can get out of the city and how much variety there is in the surrounding area. To do anything in New York is a process…
hmm interesting. i was expecting something along the lines of ‘if you want a real job, you have to be in NY’ or something like that. But I guess west coast is not a bad place to work in IB afterall. But I imagine it’s good to have some east coast experience under your belt, just for advancement in your career?