If anyone has comparable experience in both locations in banking, I wanted to get some insight on what the differences are in terms of culture, career opportunities, etc. To initiate the discussion, I did find some quotes in other sites (Reddit, WSO) from a few years ago. "You’ll have better banking/finance career opportunities in NY hands down. New York is the rat races of all rat races, though. Its also much stuffier and classist." "It's been my experience (not a banker, worked with bankers) that the culture is A LOT more laid back (still within the semi-rigid constraints that is customary in banking) than in NYC. Among the top bankers at the highest levels, relationships are going to be key regardless of where you are, but in the Bay the relationships are more based on history together, friendship, etc. than purely strategic." "Don't know about TMT (I was in healthcare at a BB), but generally IB in SF is much more casual than in NYC. I never had to wear a tie, not even to client meetings, and there's always jeans fridays. # of analysts and bankers are much smaller, so you have less of a local network in terms of who you work with. Lastly culture is dependent on the people you work with, so try your best to get to know the people or figure out what the culture is like." "New York hands down unless you have an offer from GS TMT. The only reason to go SF (no one calls it San Fran) is if you have some connection to the area. Other than that, it’s more expensive than NY and you have fewer buyside opportunities. If you want nice weather move to LA. That said BAML FSG in SF seems like a great group. I’ve heard they have a pretty good culture and decent exit ops." What do you all think? Any statements you absolutely disagree with? Any of these statements absolute truths? If you've worked in both SF and NY would really like to hear about your experience.
In corporate banking but my work life is significantly better than my nyc peers.
Tech banking doesn’t seem much different than your typical NYC team. There may be some shops that are a little better than others, but my view is that many of the tech groups are very “grindy”. That being said, it may be more “relaxed” in the way people dress and act, but the work is probably similar
I don't think WLB is better in SF banking...I know a lot of former IBD people, they were going through 100+ hour week hell all the same in SF. The worst experiences I have ever heard of were from BAML Palo Alto in fact. If you want to end up in PE, seems like NYC would be naturally better for interview convenience.