Macquarie Capital
Hello,
Could anyone offers some insights into Macquarie Capital, some pros about the company, some company specific things (i.e. corporate culture) that perhaps it does differently than its competitors. I know that Macquarie is a MM firm, and is big on restructuring. Tried doing some research, but can't really coming up with anything concrete.
Any input would be greatly appreciated.
Thanks fellow monkeys!!
Working at Macquarie Capital
Macquire Capital is mostly considered a middle market. The banks reputation has shifted somewhat through the years. Here are some thoughts form some certified users on the firms reputation both locally in the US and abroad.
from certified user @snakeplissken"
in the US it's still a perfectly good name. i've never worked there, but i had a couple friends that have, and for some reason i kept hearing how "cheap" Macquarie is. i think they mean in relation to their bonuses vs. other bonuses on the street, as well as their budgets for taking clients out, but im not 100% sure. still a perfectly good name and you'll get good experience.
from certified user @kalga"
Great in Australia/Asia. Not bad in the USA. Terrible to work with/for in Canada. No clue about the other regions.
from certified user @RonaldBacon"
don't know much about them, but I would probably say on the lower end of the middle market firms in the US. but Macquarie is still a solid shop with a brand name that will open doors for you.
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Huge company... what division you interested in?
yo theres a lot of info about macquarie on the web..what are you talking about
Not "big" on restructuring; they do have a pretty decent Restructuring group, does some creditor-side work.
They are BIG in Infrastructure: they advise, they invest, they co-invest, etc. That is their bread-and-butter business, no matter how hard they're trying to branch out. Industrials has good deal flow too, with a lot of the companies they bank being infra-related and thus have prior dealings with/see future cross-selling potential.
I interned there this past summer. Culture was pretty good - no real douches, people didn't take themselves tooo toooo seriously, and bankers there were generally sociable and fun. That being said, morale was sort of low due to low bonuses the last couple of years, and many people are unhappy. However, if it can turn a new leaf, re-group, figure out some issues, it has all the resources to become a prime player in the ultra-competitive MM.
I know they are also huge in Asia (recently were on the AgBank IPO) and London. Australia they are BB-status, but have lost out on some big mandates recently.
Joke bonuses and moving operations from Sydney to New York.
If you can get a job at MacCap, you can probably get one at another bank, and I'd almost always take the other bank.
Thanks analyst for hire!!! Appreciate the input. Am planning on applying there for SA, so just wanted to see if I can get some scoop on them.
Macquarie has had a hard time keeping good employees and an even harder time hiring qualified analysts and associates. Getting a job there shouldn't be a problem for anyone with average or above qualifications. Just don't expect pay at the same level of its competitors but you should expect to work the 70-100+ hour weeks.
In Sydney they call Macquarie "Millionaire's Bank" because of the large bonuses they use to pay out (before the financial crisis) but i am sure that these numbers would be still be very mute compared to the bonuses that were paid out by wall street BB's.
If you want to work in Sydney, the Macquarie office in Martin Place is the place to be.
Maybe 5 years ago but definitely not today, and most of their cachet was underpinned by their infrastructure business which has become redundant following the demise of cheap debt and unfavourable press. They've also lost out on a string of high profile deals and are losing staff left, right and centre. I think it simply comes down to the fact that Nick Moore has nothing on his predecessor Allan Moss and the market is clearly factoring this into the share price. If you want the top dogs in APAC then it is GS and JPM. GS's defence mandate on the Healthscope bid has done wonders for their reputation with them securing similar defence roles on the BHP / Potash deal, and more recently, KKR's bid for Perpetual.
Did SA there and signed for FT. Not Infra. In NYC.
The last 2 years, bonuses have been low (think low teens for 1st year analysts) and thus many people have left. Was there this past summer when 5-7 people left the NY office alone. However, it was not a mass exodus, and they replaced those people almost immediately.
The culture is very flat and entrepreneurial, and depending on group, hours/people aren't too bad. Industrials and TMT probably worked the longest hours, ranging from 80-100. Also, Sponsors worked a ton because 3 people left the group and the others had to pick up the slack for ~ summertime as spots were filled. Word is have already re-hired. Product groups worked 65-80, depending on deal flow.
Also, analyst program isn't typical 2-year stint, and promotions can be pretty quick (analyst to assoc after 2-2.5 years on the regular). Only MD in my group had MBA; rest were there through analyst years.
Advisory has been a bumpy transition given the firm's quasi-PE roots, although deal flow - especially in infra and FIG - is pretty jammed. Hopefully fees will follow. Expansion of DCM/LevFin has been noteworthy over the last 6-12 mos. with addition of Steve Mehos from Lehman/BarCap and Kevin Smith from CS.
Bottom line, there have been growing pains for sure, but the mood is upbeat, and with the LevFin platform expanding pretty rapidly, it should be an interesting next few months/years. Agree that staff retention, and bonuses, will be key, so we will see what happens.
Was known as the 'millionaire's factory', not the 'millionaire's bank'. Advisory business piggy-backed off infrastructure fund business, and also made money managing its own funds (after hiving them out and charging management fees). House of cards.
See http://www.smh.com.au/business/golden-age-is-over-for-the-millionaires-…
Can someone please shed light on the various groups in Macquarie? Which ones are good? Specifically information about the PTG (principal transactions group) and PEG (private equity group). Thanks!
Recent news out on half year performance, bonuses gonna be dismal again this year and next as Macquarie insists on expanding.
What is starting salary for incoming analysts at Macquarie? Any idea on how bad bonuses have been relative to Street numbers?
Upper 4 digits to lower teens. It's actually dismal.
any news out on bonuses for this year?
Have a friend who works there. Apparently numbers are pretty bad - enough so that they caused him to look and find a job elsewhere. How do they retain talent over there?
Regardless, to the OP's question. I've met some people there through my buddy. They all seemed pretty cool and down to earth. My friend did mention that there have been some "turf wars" that have spawned some internal politics/conflict, but that can be said for any place.
Also, from what I know, they're best known as infrastructure investors and everything else has grown out of that.
Groups within Macquarie Capital (Sydney) (Originally Posted: 12/04/2007)
I'm looking for some advice on choosing an industry/product group at Macquarie in Sydney. I need to choose my top 3 preferences from the following:
Macquarie Capital Products (previously known as the Financial Products Division) Private Placements Group (previously known as the Unlisted Equity Group) Macquarie Capital Funds (the team that manages Macquarie's specialised funds) Debt Structuring Division Infrastructure Advisory Resources Industry Group Industrials Industry Group Property Industry Group Equity Capital Markets Financial Institutions Group Telecommunications, Media, Entertainment and Technology Industry Group
I'm mainly interested in the M&A/advisory side of the business (ie. not too interested in Debt/Equity or funds). I've heard that infrastructure isn't as strong within Australia as overseas, and that industrials is pretty strong right now (as in, it does a lot of the bigger deals), and would like more advice regarding this. I'm also personally interested in TMET.
Also it would be fantastic if anyone has any insight on what Macquarie Capital Products (is this a structured finance group?) and the Private Placements Group do. Thanks in advance.
Shoot me a pm, I might be able to put you on to someone.
Macquarie Energy Capital (Originally Posted: 02/28/2010)
Hi guys,
Just wondering if anyone knew more info regarding Macquarie Energy Capital? From my understanding, they provide mezz funding for oil/gas companies... but I don't know much more than that.
What would be the exit ops for a group like this? Are there any other comparable groups on the street? Any info at all is much appreciated.
-
u can go to other side and trade those loans ... thats about it - maybe some Nat Rez / Ernrgy PE / VCs
Ok, thanks for the comments. Would someone take an analyst position in this group out of undergrad over a traditional IBD position? Any comments on this?
i would except big MAC doesn't pay that well
^they definitely pay their SAs well though...2k + 70 prorated + overtime
Anyone else?
http://www.wallstreetoasis.com/forums/macquarie-3
Macquarie Private Capital Group (Originally Posted: 08/13/2010)
Anyone know anything about this group. I cant seem to find much info about it.
Get out, Dizzee Rascal? I loved your work with Calvin on Dance Wiv Me! Surely this is a fake account?
Private Capital Markets is focused on doing private placements.
Interested in specifics like sector focus, deal flow, culture, etc
Think deal flow is OK. A lot recently has been Oil & Gas and Energy stuff I'm pretty sure.
What do you think of Macquarie Capital? (Originally Posted: 01/06/2011)
Hi, I'm from the Philippines and am graduating this March (undergraduate degree). I had my internship as a research assistant in the Equity Research division of a JPMorgan Chase and I have decided to jump start my career in investment banking. I am now in contact with someone in Macquarie Capital and I think the vacancy is in corporate finance (which I think is what investment banking is all about). In line with this, what do you think of Macquarie Capital and how does it compare to top dogs such as JPMorgan, Credit Suisse, Deutsche?
Thanks in advance! d
if location is Australia that's really good stuff.
in the US it's still a perfectly good name. i've never worked there, but i had a couple friends that have, and for some reason i kept hearing how "cheap" Macquarie is. i think they mean in relation to their bonuses vs. other bonuses on the street, as well as their budgets for taking clients out, but im not 100% sure. still a perfectly good name and you'll get good experience.
off the top of my head, if you were to rank them, it'd be below JPM, probably below CS, and maybe on par with Deutsche Bank. i dont know - other people on WSO are much more invested in ranking banks.
I had a buddy who worked there and left after his first year because he didn't like the culture and senior people there.If I remember pay for junior guys was below street, as well. Generally speaking, Macquarie has a good reputation in Australia and is trying to build out the US but would rank much lower than any of the bulge brackets in the US...Much more of a MM shop. There US operations are still not all that developed and could see them pulling out of the states all together if things got bad.
Based on things I've heard from a few people:
Great in Australia/Asia. Not bad in the USA. Terrible to work with/for in Canada. No clue about the other regions.
don't know much about them, but I would probably say on the lower end of the middle market firms in the US. but Macquarie is still a solid shop with a brand name that will open doors for you. don't discount an opportunity just because it isn't JPM or Deutsche Bank
Macquarie Capital paying bonuses yet? (Originally Posted: 09/07/2011)
Anyone know if Macquarie is paying out bonuses yet? Last I heard, analysts havent gotten bonuses since 07.
Wow, that's nuts. I couldn't imagine working IB hours for just street base. Unless they have an inflated base...
absolutely insane...
Are you fucking serious? screw that. You saved me from applying for IBD there. Hah. Will look into something else now.
yeah but their lifestyle is better...
Wait is this actually true?
err no that's the dumbest thing i've heard. My friend there got street bonus
there is no way Macquarie didn't pay their analysts bonuses since 07. Where did you hear this from?
the shit i read on here sometimes...
Lifestyle is terrible. Bonus ~60k.
My buddy worked there and left cuz he got no bonus
friend of mine got street bonus last year.
Macquarie Capital London (Originally Posted: 06/07/2012)
I was hoping to get some insight in Macquarie Capital IBD in London. Specifically working hours - is there a lot of face time? Do analysts/associates work weekends ?
I've heard the culture is more chilled than the BB's but this could be wrong.
Thanks
Peter
I was a summer intern at Maccap in IBD a few years ago. Generally seems like the culture is much less "toxic" than BBs in that you won't get printers thrown at you etc. However, there's still the same amount of work to be done (if not more at the lowest level because they didn't have a graphics team to format presentations) so analysts get worked just as hard. Analysts are definitely in late at night and at the weekend, but perhaps not as much as you'd expect at a BB.
The interesting thing about Macquarie is that in IBD, industry coverage groups do execution too. So there's no "M&A" group, but you could end up with some good deal experience within your industry sector.
Look at Macquarie's Funds business if you're interested in working for them. Good way to get into Infrastructure PE straight out of undergrad.
What is distinctive about Macquarie Investment Banking? I have an interview for NYC office in a week! Thank you so much for reading this.
Probably a late one on this but could some one give me some more insight on Mac Capital's London Infrastructure Team? I have a phone interview with them next week. I would be nice to get some info on the team's culture, work hours, pay, bonuses etc.
Are they as big in infra as they used to be? Also what are the exit prospect in trying to join a big infra PE from here?
Thanks
Macquarie Capital - Hong Kong (Originally Posted: 02/07/2014)
Wonder if anyone can comment on Macquarie Capital (banking/principal investments) in Hong Kong in terms of its business performance and working culture/hours for senior asso/VP? There seem to be many negative reviews of MacCap here but most of them were about the US/Europe, so I wonder anyone who has experiences in Asia/HK with MacCap can share some thoughts? Thanks very much in advance!
Not a big player but comps are good. Lots of VIP interns. You leave around 9 most of the time.
Thanks henryxub for sharing!
Macquarie Capital Analyst Bonuses (Originally Posted: 01/14/2015)
Hi all,
I was wondering whether someone knows something about the bonuses that Macquarie Capital pays its investment banking analysts? Any range in terms of year-end bonuses for the 1st year analysts? (I've heard they don't pay a signing bonus)
And do bonuses vary greatly between the various teams?
Thanks!
Macquarie Capital does pay a signing bonus. The bonuses don't really vary across the teams from what I know because you get bucketed according to your performance relative to other first years in your analyst class. According to previous analysts, Macquarie paid pro-rated street-level bonuses to analysts this past year.
signing bonus $10k. First Year Base $70K + bonus $50K. Second Year Base $80K + bonus $70-80K.
signing bonus $10k. First Year Base $70K + bonus $50K. Second Year Base $80K + bonus $70-80K.
Not sure where you've heard of first years getting paid $50k bonus. They got paid $20k last year and $10k the year before that.
Not sure where you've heard of first years getting paid $50k bonus. They got paid $20k last year and $10k the year before that.
Best groups in Macquarie Capital for banking? (Originally Posted: 04/20/2015)
Hey guys -
Just wondering what the best groups are in Macquarie for banking. I know they're big on infrastructure, but do you have any further insight on what groups have strong deal flow, good culture, decent hours and a good environment?
Thanks!
(delete)
barbariansatthegate - What country, US/UK/Down Under?
Sorry for the late reply -- was looking for information on the teams in NY. Thanks.
Yes! I have an interview for Macquarie Capital IB NYC office. What specific info can you give on Macquarie IB? Thank you!
Macquarie Capital - Hong Kong (Originally Posted: 02/07/2014)
Wonder if anyone can comment on Macquarie Capital (banking/principal investments) in Hong Kong in terms of its business performance and working culture/hours for senior asso/VP? There seem to be many negative reviews of MacCap here but most of them were about the US/Europe, so I wonder anyone who has experiences in Asia/HK with MacCap can share some thoughts? Thanks very much in advance!
Best groups at Macquarie Sydney? (Originally Posted: 04/22/2007)
I'm starting in the Sydney office as a 1st year analyst in Feb '08, just wondering what the best groups are in the IB group?
Right now I'm thinking of either Infrastructure or TMET. The way it works is I indicate my preference at the end of training, and from what the people that interviewed me (plus a few other analysts) have told me, 90% of people get their first choice.
Any advice would be very appreciated, thanks.
Industrials is where you wanna be. Infrastructure is strong abroad but no longer in Sydney where not many more infrastructure deals are to be had.
All recent high profile deals - Qantas/Coles/Boart/Dyno - were run out of the industrial team. Head of industrials, Tim Bishop, is a rising star and seen by many as possibly the next head of IB
I have the same question as Zandranius but for the London office...does anyone have any thoughts? I was thinking about utilities or airports..
agree with industrials in sydney - friends working there say industrials is one with most activity.
Anyone got updated info on Macquarie, specifically in Canada? One previous comment mentioned the Canadian ops is definitely not up to par with Aus/Asia and the USA from an employment standpoint ... any reason why? And to add some variety any info on the airfinance division?
Here's my $0.02:
REPUTATION: If you can get in at the infrastructure and energy group, it's best-in-class. Macquarie basically invented modern infrastructure investing and their models are beyond anything I've ever seen. They've done some super high-profile and innovative investments recently, especially in the clean energy and infrastructure technology spaces. Internal marketing makes it very clear they want to be top adviser / investor in the world for clean energy (and may already hold that spot).
GO BUYSIDE: As an additional plus, instead of doing grunt advisory work, about 75% of the work is principal investing. For a 22 year old to be able to go straight into buyside is reason enough to go. Comp is above street at the associate level; middle of the road of analysts.
IF I HAD TO NAME A DOWNSIDE: It seems basically impossible to rise above MD unless you spend time in Sydney HQ. Also, their vest-game is weak - some older guys have patagonia vests but all of the new vests are some offbrand crap that feels flimsy.
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