Vault’s Verdict

One of the most prestigious investment banks in the world, Credit Suisse is looking for bright, energetic, well-rounded, and technically savvy team players. The firm’s internship program is a great learning experience where interns receive extensive hands-on training and get to work alongside senior bankers, experiencing what it’s like to be a full-time employee. The firm likes to hire from within and thus takes a very active interest in its full-time employees’ career development, offering solid training programs, mentoring opportunities, and the ability to move within the bank. The culture is a very collaborative one, and Credit Suisse strives to provide a good work/life balance for its employees. That said, depending on the department and business area, hours can be long and unpredictable. As for compensation, the bank pays in line with the Street but not higher. And with respect to diversity, insiders say the firm could use some improvement. 

Note: The firm did not participate in our 2020 Banking Survey; all comments are from our 2017 Banking Survey.

Hiring Process

• “As someone who is actively involved in the CS recruitment and hiring process, I think we are really looking for the whole package: individuals who are bright, energetic, and technically savvy. That said, those individuals also need to be grounded and have the ability to work in teams. The firm has a very collaborative culture, and we are conscious of bringing in people who are not only going to be good at their role, but also who will contribute to the success of their colleagues and help drive our business forward.”

• “Very thorough process. We are seeking the most impressive individuals and, most importantly, the people that we think we will get along with. The culture is easygoing, and when hiring, the focus is ‘can they do the job’ (which we feel almost every, if not all candidates, that get to interview day can do)? 

• “Highly structured and organized process for undergrads, with well-established criteria and clear selection guidelines. Ideal candidate is bright, dedicated, creative, honest, with a strong math skillset.” 

• “The ideal candidate is definitely a passionate person who’s able to talk at length about a particular subject (i.e. the sector he or she covers), and someone who also loves to read and write—this job isn’t just for someone who’s a math wiz or good with Excel. You absolutely need those qualitative skills, too.” 

Interview Questions

• “What are you best at? Worst at?” 

• “What experience do you have in equity research? Do you follow the markets? If so, what are some stocks/indexes you are interested in? Do you enjoy writing?” 

• “Walk me through your resume. What are your strengths and weaknesses? Tell me about a time you failed. How did you overcome it?” 

• “Why do you want to work in investment banking? Where do you see yourself in the long term?” 

Intern Experience

• “I interned within sales and trading, which was great because it was a rotational program so I got to experience three weeks each on three different desks. I got to meet a lot of people that summer and that network has allowed me to build a strong career at CS.” 

• “Significant senior exposure, great mentorship and training from full-time analysts and associates, and strong camaraderie among the intern class.” 

• “Very proactive program that introduced us to some of the bank’s top executives and MDs. Provided excellent deal and transaction exposure. IT systems and ramp-up was not seamless; they needed to be better prepared for interns to hit the desk running.” 

• “Full exposure to what it is like to be a sell-side research analyst.” 

Career Development 

• “Credit Suisse has extensive training and development programs available to all levels of the bank. The firm has made an earnest effort to make learning opportunities available to its employees. Credit Suisse also encourages internal mobility. I was able to make a lateral move to another department after only one year at the company.” 

• “Big focus on organic growth and internal mobility with frequent updates and postings of opportunities both intra- and inter-division. Global footprint with large presence in all major geographies resulting in many resources and opportunities to work with and learn from people around the globe. Multiple networking and mentoring opportunities. Longstanding MDs still provide a partnership feel.” 

• “Great opportunity to work globally within the firm. You have the support of senior management of our department.” 

• “I feel like the firm initially promotes development but once you reach a certain level, it’s no longer something time is invested in.” 

 Quality of Life

• “Like all investment banking jobs, it is hard charging and involves long hours. However, Credit Suisse has made significant strides in ensuring junior level work/life balance through specific rules and programs. Additionally, at a senior level, the entrepreneurial culture affords employees the freedom to determine the best approach to vacation time, working from home, etc., as long as productivity remains high.” 

• “As with all investment banking teams, the worst aspect is the inability to predict your weekend/near future, and thus inability to make plans with friends. Best aspect is that everyone is more aware of the need for a positive balance in quality of life, and people are taking steps to address it.” 

• “The hours are not dictated by the firm but rather by clients’ demands and the broader economic cycle. Credit Suisse makes significant effort, particularly at the more junior level, to institute better hours. The clients expect bankers to be available on a short notice with fully baked views on any relevant strategic or financial issue.” 

• “Being able to work remotely is a plus; it certainly helps to keep up with work when caring for a sick family member. But I wish there was better work/life balance without the guilt of not being visibly seen, and without it affecting your performance rating. Many employees do not need to be seen and seated in a workspace to be productive and perform their duties.” 

Salary and Benefits 

• “Good but not great overall compensation package relative to the Street. Deferred comp is still relatively high, though cash portion improved year-over-year.” 

• “Salary increases could be more frequent and significant, but overall I am satisfied.” 

• “You get paid similar to what the rest of Wall Street gets paid.” 

• “As someone who has been here over five years, I have found that new hires at the same level are hired at a higher pay scale than what I am paid. I haven’t had a salary increase in several years, and yearly bonus has decreased or remained flat since I began. Best perk is the ability to work remotely.” 

Diversity, Philanthropy, and Green Initiatives

• “Lots of opportunities for women, LGBT individuals, and racial/ethnic minorities, and you’re encouraged to attend events for these groups even if you’re not part of one but want to participate regardless.” 

• “Not many women in senior-level positions.” 

• “Very open culture, supportive of all people, and makes an effort to give back to the community both financially and in employee time commitment.” 

• “There are not many woman, minorities, or LGBT individuals in senior leadership roles.” 

Business Outlook 

• “CEO transition raises some uncertainty, but there is confidence in a pro-growth strategy. Capital position and regulatory regime has hindered ability to compete, but this is hopefully temporary.” 

• “I think the bank should do more for its employees in terms of compensation, if not through monetary means, then through time off.”