Wanted to get a 2024 check on the state of Minnesota banking. I'm a U of M student considering staying home and recruiting for one of the shops in MPLS. I am mainly interested in HL RX, HL P&U, Piper Sandler, and HW. I'm curious about culture/deal flow as opposed to NYC counterparts.
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This guy said Minnesota IB 😭
Yeah, and?
Nothing. It’s cute.
I really have nothing to add beyond perhaps checking on LinkedIn
(Pro tip if you google “investment banking analyst (or whatever position) Minnesota LinkedIn” you can bypass the search limitations on the LinkedIn app (unless you have premium then disregard)
You can also run a search on brokercheck by location. I’ve done that in the past to verify if someone is actually doing IB (if they have correct and current licenses)
Piper MN is their headquarters and has most of the groups except for FIG
Bump
Piper but that's about it
But bro WHY would you willingly move to Minneapolis? Have you not watched the news at all any time in like the last 4 years lmao?
At least San Francisco is a dump but you can still make a lot of money in tech or something
Hometown
Lol... you know, because the news isn't incentivized to sensationalize anything.
IB scene in Minneapolis is sneaky good. Piper HC & Serv/Industrials teams are really good, HW food is top notch. Houlihan has a good Ind/Services team there plus Rx... Lazard also has some decent teams. Hennipen Partners is LMM but is a really solid shop (most guys are ex-Lazard), Northborne Partners is similar to HP but have been absolutely on fire in the LMM and have heard they have a pretty solid culture. There are other boutiques but they come with their own set of issues.
Julian up there seems to be reading google more than spending time in the area. It is a pretty sick area when you consider income vs. cost of living and a lot of the PE shops that I talk to regularly are noticing the amount of talent in the area. Regularly hear people making a point to get to Minny (I have good vibes with the place so I can call it that) because they can have a solid day or two of quality meetings.
Downtown is quieter but not the MadMax scene that everyone thinks. If you can get a solid gig with a solid group, it is a pretty sweet area if you don't mind a little cold.
Have been impressed with Hennepin Partners on different deals I've worked on in the past
HW in MPLS is focused in Food. Strong group.
All (HL, Piper, Lazard MM, HW) are solid MM shops that mostly want to keep you around if that's the goal. Can place you into MM PE if that's your plan as well. Cost of living is by far more advantageous if you were to do MM banking in NYC, SF, or even Chicago. I think many have has a slower year from M&A conditions over the past ~12 months, but deal flow should be picking back up in the near term, or at least pitch activity. Most if not all the groups (that I've talked to at least) have more of a midwest culture, so going to be more laid back personalities with smaller offices compared to larger city counterparts
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