Why should I never join a French bank?

[BNC1]

Hi guys, just wondering if someone could shed light on why you should never join a French bank. Not sure if its a joke but it probably has some meaning behind. I heard it numerous times being mentioned.

 

[thebondking1]

Bump

 

[AlexLielacher1]

• Head offices are in Paris and decisions at senior level are made there. Hence, you and your team have less control over and less insight as to what goes on bank-wide.
• Bonuses can easily be zero or very poor (although that is the cases at most banks these days, compared to the pre-crisis times).
• They tend to hire and fire quit agressively. Having said that, you get 6 months paid gardening leave at SocGen (not sure about BNP and CA) once they do decide to tin you.
• Also, SocGen loves to interview everyone as are seemingly "awalys looking" but not neccessarily hiring.

Just a few thoughts on the French banks from my experience and from what I have heard from people who have worked there.

 

[gnalp1]

the French has great engineering schools though. in fact BNP has the best equity derivs desk in the city. at least from what I heard the grand ecoles are a big feeder in to trading programmes at most banks

 

[AlexLielacher1]

the French has great engineering schools though. in fact BNP has the best equity derivs desk in the city. at least from what I heard the grand ecoles are a big feeder in to trading programmes at most banks

100% agree. The French top tier universities are a very popular hiring ground for banks, especially for derivatives.