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Career Resources
lazard?
MS' T and M&T groups are separate.
both are very good, however.
Barcap's Technology team is separated from its Telecommunications & Media group, the latter of which is very good.
I think JPM has a good Media group.
Lazard has a solid tmt group, half in SF and half in NY. Not sure about the SF guys, but it seems like 40% of the NY guys go straight to HBS after 2 years, a few blackstone/KKRs, and the rest other PE shops and corp dev.
I know Lazard has an SF office, presumably for TMT. But, out of sheer curiosity, where does Boston fit in? If I recall, a lot of their TMT practice is out of there as well.
..
TMT used to be Media & Telecom, tech joined the party later. For instance, as noted above Barclays/MS still have separate Tech and M&T groups - these days there are some cross-synergies though. Media and Telecom - latter provides the pipe for the former, and sometimes ventures into owning it. Tech provides the underlying infrastructure to make it all work and sometimes overlaps as well, e.g. YouTube.
I like HBO's media, especially Entourage. Turtle's going to B-school!
UBS has a strong group I am pretty sure but others feel free to comment on this
UBS has fallen off considerably since UBS LA and Jeff Sine left.
UBS LA is a ghost town, but still has brand rep.
Where is he now? How is Moelis?
Any comments on JPM M&A in SF? How big is that group? I hear that JPM TMT in SF is all pitching.
UBS LA is still one of the biggest IBD offices in Los Angeles. if you wanna see a ghost town you should check out some of the other banks in town such as GS, CS, ML, Barc, etc...
Wat about JPM, DB, CS, UBS, & GS tech San Francisco today? Where would they rank in terms of best places to go work as a FT analyst?
DB tech..if you check out merger market and only selected the tech industry, you will see that it's actually ranked #1.
UBS tech is falling apart, do not go there unless it's your only offer.
CS tech is still really good
Not too sure about JPM, but can't imagine it to be too bad
GS- it's GS
And no, I don't work for DB.
Nope, you're obv still in high school
I mean seriously, where did you get any of this info from
GS and MS are obviously the best. followed up with db and cs. citi, barcap, baml are in the mid and ubs and wf round up the rear.
boutiquebank4life, what are your thoughts on JPM Tech? Prestige, Exit Opps?
eric1025, do u still think CS tech is good (say better than JPM) post the departure of Boutros?
oh sorry I forgot jpm, mostly because i dont know anyone there while i have friends at the other BB's i mentioned. I would say it's along there with citi/barcap/baml.
thanks boutiquebank4life, what are your thoughts on growth/future prospects for all these tech groups? I'm looking to enter as a FT analyst in June 2011 and wanted to get your thoughts. I know there's no crystal ball, but do you feel GS' recent troubles will affect its tech group, or will Boutros' departure from CS sersly affect it? What are your friends thoughts on the future for these tech groups? Do you think we will see the emergence/fall of certain tech groups?
Holy shit dude you are really overanalyzing this. TMT at any top bulge bracket is a very desirable IBD group. I don't know why college kids have to trivialize the bulge brackets and their respective groups so much with arbitrary rankings and subjective opinions. Outside of GS and MS, getting the opportunity to work in TMT for JPM, CS, BAML, or BarCap is an extremely good opportunity. Generally speaking, the difference between these are minimal.
youngblood, wat r ur thoughts on UBS Tech?
Personally, I would stay clear of UBS with offers from other firms because I have a buddy who was in UBS tech the last year and hated his life to the point of lateraling to another BB. But, when I say stay clear, that is with the assumption that you have other IBD options. The point is, you should focus on securing an offer before worrying about the minutia of BB/group rankings.
That being said, getting to work in TMT, M&A, Sponsors, LevFin, etc...at any top bulge bracket is going to give you an extremely valuable experience with quality opportunities going forward. It's my opinion that you should focus on securing offers first, then after accomplishing as much, follow your interests based on each groups culture/people/work-description.
theintern - your questions are inherently flawed - I highly doubt you (or anyone) has a significant chance of getting multiple, group-specific, TMT offers from BBs. Now, assuming that were the case, you'd have a much simpler X vs. Y choice to make, rather than this nebulous "rank all the BB TMT groups" question you're asking now. Further, if you do in fact get these offers, a huge factor will be the people with whom you work - you do not want to spend 70-80-110 hours a week with people you abhor, even if it is at GS TMT (yes, college kids, we saw you just came a little bit there).
Since you clearly want to be in TMT, that should be your goal, rather than an ultra-subjective, and probably unreasonable, goal of shooting for "most prestigious with best exit opps" group.
In short, agree with youngblood on the broad outline.
Well said dude.
And the thing is, while GS and MS are generally considered to be the best of the best, there are reasons besides prestige to join a firm. Barclay's is growing immensely, for one, and that can offer a lot to someone who wants to learn or actually start a career in IBD.
DaCarez, I'm simply trying to hear about people's and their friends experiences with these tech groups..given that they work in the industry and have way more knowledge than I do. People and culture matter the most to me, but I'd like to focus my networking efforts at firms with strong tech groups in order to learn more abt the ppl and culture. Any info would be really appreciated.
mas 1987, wat other groups do you think are growing immensely?
Thanks youngblood, appreciate it. Do PE's or VC's have any preference for analysts from specific IB groups, such as tech? Does the fact that both PE's/VC's and IBD tech groups are mainly in San Francisco provide any advantage in recruiting?
Unfortunately I don't have the answers to those questions, because I haven't gone through PE recruiting yet. But, it's important to know that PE and VC are extremely open-ended industries with a wide variety of sector focus and recruitment preferences. That being said, there are a lot of TMT-focused VC and PE funds. Also, the skills developed by TMT analysts are probably fairly transferable to other industries, which hints to its desirability among incoming coverage analysts. By the way, though tech is largely based out of SF, TMT is largely based out of NYC still. So, west coast and east coast firms naturally pull from the best of both, as you would think.
besides TMT, what do you guys think about Consumer/Retail? It's pretty neat group to be in and offers highly transferable skills. Plus, all PE firms (besides the industry specialized ones) tend to acquire consumer companies, more so than TMT ones.
Citi TMT is #1 in Asia, top 5 globally.
@youngblood: I hear the same about UBS.
Here is the problem I hear with UBS, coming from a couple guys that left before their 2 year stint was over after working consistently 120+ hour weeks:
IB is done by the relationships that senior managers have. UBS lost a lot of their best managers during the recession because they refused to pay them what they were worth. Even before the recession, however, UBS's IB had a different take on the industry. As opposed to relying on senior managers' relationships, they decided they had to work twice as hard as everyone else (coming from being a wm firm they were kind of an underdog). This did work for a while, until the recession.
The thing that was especially bad about the last two years was that they were working even harder then analysts previously had AND got shitty bonuses. In one of the groups of one of my sources it got so bad that the group head started a new policy. Pretty much what it said was if a pitch book was over 30 pages the VPs and MDs on the project had to throw $20 into a pot to take the analysts out to really nice dinners or parties or whatever every quarter. If the book was 40+ pages, they threw in $30, 50+ is 40 and so on and so forth.
So, while that kind of worked, I hear that a couple of the VPs just got pitchbooks that were too long and started cutting random pages.
Anyways, secondhand info, but the sources are definitely legit. UBS is a sweatshop
mas1987, do you think UBS Tech can improve in the future or is the brand name damaged beyond repair?
I would be wary of the UBS tech group specifically, considering a couple years ago, the 2 heads of tech left to Centerview.. and in the past couple months Brian Webber (the most recent global head of tech) and John Joliet (head of software) both left to join Moelis & Co.
However, their TMT in NYC which focuses mainly on media and telecomm isn't a bad group at all.
No clue, Im just regurgitating what I was told by an analyst at UBS
sorry but ubs tmt blows, take a look at their past history, many ppl have left and the group has almost disintegrated.
Do you think skills as a TMT associate are desirable for jobs in industry? Would it be an advantage to work in TMT for 2-3 years as an associate then transfer to an industry position (corp dev, corp finance) at a TMT company vs entering one of those positions straight out of bschool?
Skills in this industry are always desirable. The issue is over opportunity cost. The skills of an associate typically don't extend that much further than an analyst (associates are pretty much analysts that know what they're doing and have a lot more responsibility). Having these skills is good, but if you're not planning on staying at the firm, why not leave for the company you actually want to work for? You'll need to build up your reputation and credibility all over again, and switching careers in your thirties doesn't sound fun. Not to mention, why would you want to work the hours if you're not in it for the long-haul?
In the tech industry, there can be a lot of flexibility for people that know the space well (probably more so than other industry groups), but look at associates at places like GS, MS, and Qatalyst. They're some of the best for tech, and those guys are probably staying at the firm for their entire career. Most don't even enter the group after BSchool. They come straight in as analysts.
Nice bump
Ms mt and t are legit. Jp/CS TMT, liontree, qatalyst, Guggenheim
http://markets.ft.com/investmentBanking/bankingLeaders.asp
Top TMT Boutique Investment Banks...who are they? (Originally Posted: 06/23/2011)
Polling the audience...who are the top TMT boutique investment banks?
DeSilva Phillips Allen & Co Petsky Prunier.. who else??
Qatalyst Partners SF
I'm sure they are an outstanding bank but I don't think Petsky Prunier is on the same level as Allen & Co. (for M&T) and Qatalyst (for Tech).
Yeah there are certainly tiers here. I'd add Pacific Crest to the 2nd tier. Maybe Wedbush as well.
Waller Capital?
Yes, as mentioned above, Allen for M&T (and sports as well), Qatalyst for Tech, are both known as tops in their respective sectors.
Don't want to start a new thread but... top boutiques for financial institutions?
Keefe, Bruyette & Woods Sandler O'Neill
others?
GCA for tech (specifically internet)
Qatalyst for mega tech deals
Allen mostly media
Sagent for Tech
Pacific crest is more like bookrunners
Guggenheim (probably spelled it wrong) - media, doing the hulu sellside now
Qatalyst
Allen FTW!!!
Bump.
Any more?
Union Square Advisors Monty & co
Allen & Co
Lol dat two year zombie.
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