Opinion on STRH
Hey Guys,
I'm curious about IB opportunities in Atlanta, from the area and really want to move back to be with family for personal reasons, and saw that basically Sun Trust is the only name in town. I looked at some old threads and they were a mixed bag and also dated. So I wanted to start a new thread and ask what there reputation is now, where you think it's going, and what are exit opps like? Are the deals getting better? Best Groups? And what people do after they leave.
Any info would be of help. I'm starting in the North East at a MM IB firm this summer but really want to move back home to be closer to my parents. But before I start trying to make the move, I just want to know what I'd be looking at.
Thanks
They are a good shop. I'm from ATL, but doing VC in NYC. I have a lot of friends who work there, and a lot of connections to the firm. Their Capital Markets Group is very strong. As far as M&A, I think they are okay. It's hard enough to compete with BB banks, and especially if you're not even based in the North East. I don't like to speak on exit-ops because it all comes down to who you know. Unless you're at a GS/MS/BAML your exit-ops are all based on how well you leverage current relationships. I've heard upward mobility is limited, but I know people in NYC respect them as a decent regional IB. I'd take a job with them. Their compensation is very competitive based on what I've been told by friends....go for it if the opp presents itself. Being close to family and friends is worth more than any amount of money you could make in a lifetime.
There are other groups in the ATL IB scene other than STRH. I know both Barclays and Blackstone have small satellite offices in Atlanta (Maybe 10 guys per office?). I don't know much about either, especially in regards to how they recruit, but I do know that they exist. On top of STRH, Blackstone and Barclays, you have a string of smaller southern boutiques.
Can't remember for sure but I believe Brookwood Associates, Sandler O'Neill, Jefferies, Stephens, Greene Holcomb Fisher, and TM Capital have offices in Atlanta. Most of these aren't large though.
Yes. Good work. Brookwood Associates is a solid shop. I know of two PE firms in NYC who work with them. Both with at least $20B in AUM. Solid shop.
LOL, did you just pull up a CapIQ list and see a transaction w/Bain and WP? Come on man.
Thanks for the input guys, I'll check out the other shops. I was going to focus on STRH because of what I'd read on here about them having a great culture and good pay for hours. I know it's not a BB or anything but through research online it sounds like they're coming up and it'd be better if I was home for a few years. I was just hoping to move back without hurting career trajectory too much. Other perspectives on STRH or other shops in ATL welcome...
Charlotte is about a 4hr drive from ATL, if you're willing to make the drive that helps provide more opportunities
I thought about Charlotte but spending 8 hours driving seems like it would never happen with banking work schedule, or at least would happen very rarely, so I don't think it's a viable option. Been looking at other shops in ATL area this afternoon but it seems like STRH probably is the best one. Most other places have smaller offices or are so small they don't get good deal flow. I know a few friends who know analysts at STRH but before I start asking for favors and commit to leaving job offer in North East, I just want to know more about the Bank. If anyone else has insights on exit opps from STRH, whether deal flow is improving, or general insights about firm culture and reputation, your comments would be greatly appreciated.
If you're looking to stay in the South then STRH is probably a great place to go. Someone else can chime in here (no expert), but I would imagine if you were looking to leave eventually, you'd be better off at the Atlanta office of a BB or EB like Barclays/Blackstone.
Heard BX atl has shit exits. It's not at all like BX nyc/boston
My understanding is SunTrust ATL is a bit of a sweatshop and has a stuffy culture at corporate (this from SunTrust employees). exit ops include some mm / boutique PE and SE regional MBAs (Vandy / emory / UNC). Granted this is a gross over simplification. They still leverage their BS, so LBO group is pretty strong.
I've worked for them as an analyst. SunTrust is not a bad place to be. They try hard to be respected as a "real" investment bank, and they do occasionally get pretty good deals.
TLDR; its not a bad place to start, you can get into PE (US but mostly Southeast) and bulge brackets with ease if that is your goal.
Pros: Lifestlye is quite good at STRH, Especially at the associate level. You get paid over $200k to work a 9-6 occasionally 7,8,9,10 and occasionally some hours on the weekends.
Analysts still have good hours relative to other banks, but your bonus will reflect the difference. Exit opportunities have been increasingly favorable, and most of my analyst class went into PE (southeast) / Business development management/ New York bulge brackets. Certainly not bad for a MM shop. That being said, having a balance sheet allows for some larger deals to come through your doorstep.
Cons: I dont think STRH is enough to get you into top business schools, but its not a bad place to start. Now, the real cons as an analyst are that there is no "marketing" department, so you are stuck doing A LOT of bitch work. They pride themselves on their efficiency ratio, which is basically the money they don't spend on making your life easier. Half of the job in "IB" is corporate banking, which I actually think is good experience, but the finance community does not respect it much. You learn what it is to be debt investor, a good life skill imo. But they have not done a good job separating IB and Corporate banking, and their criteria is essentially IB = supporting companies over $500MM in revenue, middle market = less than $500MM. Which translates into, we are an IB / corporate bank at all levels based on your revenues. Pretty silly since, they are an MM shop, but this speaks to the culture, STRH looks at themselves very favorably, and act like they are JPM, lets be real, you are MM and have a balance sheet, you do okay work, dont pretend you are something more.
Secondly, they are very backwards on supporting analyst exits. This is my biggest complaint. STRH sucks at career development outside of their company. Many other shops realize, analysts work a lot, and we help them get jobs after we beat them to the bush. Not Sunny T. Their exit conversation is secret, silent, and taboo. HORRIBLE. That is their worst problem. They need a new and realistic HR department that actually understands what IB is, and understand the mutual benefit of analyst exits. Granted the industry as a whole views the above with sensitivity and is currently in flux, lets just say SunTrust has 0 concept of what the industry was doing 10 years ago as well as today. If you want to exit, you are on your own. You will have decent experience to back it up, but management assistance is rare.
Final thoughts: its a good shop to start, if you want to work at KKR, this is a pass, if you want a solid middle market PE or business development role in the southeast, its great, Atlanta gets some gripe from fratty New York bros, but its honestly a great town with a lot to offer, and STRH gives a good paycheck for you to be happy.
This is the most honest review you will get. Hope this helps!
Dogecoinforever nailed it.
Sorry, having a hard time fully understanding the IB / corp banking point and MM piece with the current write up, could just be me. Could someone clarify what Coinye means?
Anyone have any thoughts on their Charlotte office specifically? I know it's just media and telecom
Good shop. Media & telecom is a fantastic group at the bank. That being said, many people either end up in a Charlotte MM PE shop or go to Jefferies / BAML in hopes of going to a bigger fund.
STRH (Originally Posted: 03/30/2011)
Has anyone else noticed that SunTrust is doing a lot of deals with bulge brackets? Anyone know what eoy bonus #s look like for associates?
Bump. I've noticed the same trend. They have landed some impressive deals in recent months - given their typical space in the market.
Also interested in analyst bonus figures.
A lot of talk about them lately.
Any links or details to some of the deals? I'd be interested to see which groups at STRH have been getting dealflow
JONES NY - http://www.businessweek.com/ap/financialnews/D9LQI6U00.htm
Verisk - http://www.globenewswire.com/newsroom/news.html?d=217461
Hancock Holdings - w/ Morgan Stanley http://www.globenewswire.com/newsroom/news.html?d=217189
Telx - w/ Goldman http://dark-fiber.tmcnet.com/topics/dark-fiber/articles/158474-telx-bag…
These are just a sample of deals during March...
These caught my eye:
$1 bn offering w/ Goldman and MS: http://www.prnewswire.com/news-releases/SunTrust-announces-pricing-of-1…
Advisor to Warburg Pincus: http://cpifinancial.net/v2/News.aspx?v=1&aid=7377&sec=Alternative%20Inv…
still garbage
Mind explaining...otherwise, your comment is worthless. Any insights on deal flow?
impressive equity offerings, but how are they in M&A/debt?
exit opps are very weak for analysts. might be able to land into something regionally, but still tough
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