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The Bulge Bracket Investment Banks

The term typically refers to the largest of the full-service investment banks. Firms in this group typically denote prestige and power, whether you are a company looking to go public or a recent graduate submitting your resume. They are usually the most competitive firms to be hired into.

There are advantages and disadvantages for working in a bulge bracket bank. Whether it's true or not, the hiring process and the subsequent work environment can be so rigorous that, to many other firms, simply putting in time at a bulge bracket implies that you are a the best of the best. Training is also top notch, with some firms offering sis to eight weeks in the way of a structured training program. However, be ready to give up your life for a number of years as 100+ hour work weeks are not uncommon. Though in a good market, you will be compensated handsomely for those hours. Additionally, the work environment at a bulge bracket can be hyper competitive, and teammates can often feel like competitors.

Some advantages are:
• Brand name recognition on a resume
• Top notch training
• Higher compensation
• More likely to get into a top business school (MBA)
• More exit opportunities (private equity, corporate development, etc.)

Some disadvantages include:
• Insane hours
• Cutthroat environment
• Majority of opportunities are in expensive cities like New York and London (only a disadvantage if you don’t want to live there)
• Can feel like a cog in a wheel and more likely to be in a silo performing pieces of the process

Examples of firms in this group, in no particular order, include:
• Goldman Sachs
• Citigroup
• JPMorgan Chase
• Morgan Stanley
• Credit Suisse