Barclays Technology IB
Anyone know anything about this group? Landed an informational interview with a senior person in this group and having a hard time finding much info. It's based out of NYC office.
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Allegedly has one of the least-strong cultures at Barclays, maybe the worst hours at Barclays. Lots of pitching. Heard this from friend starting full-time this summer who interned there last summer.
Do you know anything about tech in Menlo Park?
I visited last fall for MBA associate recruiting. They have about 30 bankers in Menlo Park. My impression was that they were mostly involved in financing deals that were led by other banks. They also had a way earlier timeline than everybody else, hinting that they struggle competing with other banks for talent. That being said, everyone I met there was pretty chill and nice.
Bonus for their brand new SF office. My understanding is it’s mainly for clients, but some bankers choose to work primarily out of SF instead of MP.
The SF office is now open. Juniors can choose to solely work from there now rather than Menlo Park
most brutal NYC coverage group, rivaled only by industrials
How's the Industrials culture these days? Group heads and some other MDs left
Barclays Tech group has a new group head now who was group head for one of the better culture groups
Industrials and Technology are the 2 worst groups in Barclays (in terms of culture)
It's not about lack of deal flow, it's that the MD/VP level guys are very unforgiving, creating an absolutely brutal culture. I've seen several (more than 3) first year analysts brought to tears in a conference room in industrials and for tech, I've seen some analysts downright demand a change in groups to HR, because they just couldn't handle it
It's funny because a lot of incoming undergrads love "Tech" in general, so they target Barclays' Tech group, only to get soul-crushed with some of the shittiest culture in the bank. Those 2 groups have the highest turnover in the bank (alongside FIG) for reference.
Also note that Barclays Technology is separate from the Communications and Media Group (Media and Telecom). Two completely different cultures between those two groups.
Can confirm that Barclays Communications and Media (CMG) group is a lifestyle group. Ironically the complete opposite of the Tech group and has very good culture and hours. My friend who was in the Tech group there had told me multiple associates had moved over from Tech to CMG for the culture change.
Wait what's wrong with the FIG culture? Always heard it was great at Barclays.
FIG culture is great, but it's the largest group from a headcount perspective and not many analysts are actually interested in FIG (like who actually finds FIG interesting seriously), hence the turnover.
I wouldn’t say the above is true at all any more. Potentially true for the NY office but the Menlo Park / SF tech team has some of the best culture of banks on the street. Willing to go into more detail if needed
Listen to the comment above. Avoid avoid avoid Barclays technology.
In NYC, you will get a lot of M&A and LBO financing experience. Especially with new senior hires, Barclays has one of the best BB NYC Tech groups. You'll learn an incredible amount and exit ops will be great.
However, hours will be extremely tough(90-100 hour weeks for months in a row), senior people treat you with no respect, and you will never have time to yourself. There is also a massive drug culture in this group, worse than any other I've seen on the street. Coke, Addy, Vyvanse, Ritalin, Xanax, Oxy, really all of it. Drug abuse is normalized and openly encouraged, so expect to walk away with a few addictions.
LOL
I can confirm the drug use, I would think these guys are pharma bankers not tech ones judging by the number of prescription drugs in their desks. I guess going on cocaine and alcohol binges helps them deal with the stress.
Deal flow is strong, especially for an NYC tech group. Barclays seems to be grabbing market share from the faltering european bulge brackets (CS, UBS).
I have heard that the new group head is somewhat working to improve the culture. Other hires are also a positive sign for the outlook of the group, but may cause heavy pitching initially.
wait so you’re listing this as reasons not to join? hm ok...
Wow, this makes me want to join this group even more
Exit ops: drug rehab
crying is not a weakness. don't listen to negative feedback. interview and take the best job you can secure. ask questions and make your own decisions like a big boy (or girl).
Would it be worth taking tech or industrials over a better culture group that has worse deal flow (I.e CMG, RE or FIG)? For reference, an incoming SA.
CMG and FIG have great deal flow, absolutely take them over Tech or Industrials.
know anything more about CMG -- exits, deal flow, M&A activity, rep, anything? Can't find much on the site lol
Would you still recommend that today since the tech group has grew so much in the past 2 years? Currently deciding between FIG and Tech and starting FT this summer
Anyone know if its like this in London too?
This sounds like fucking hell. Drug induced stress and “fire drills” from the job can’t mix well.
Is Menlo like this too? Was thinking of applying there and talked to some people and didn’t seem like it
No I heard menlo office is full of pussies
Bump on Menlo
Currently an analyst with BarCap. If I had to pick one thing to highlight - culture is great. Staffer really cares for you and makes sure of your well-being.
Menlo Tech team is run by the Head of Tech IB who's based there. NYC Tech team, however, is run by the Head of TMT who used to run Consumer, that's why Menlo and NYC Tech group each has their own culture. Heard the current Head of TMT was hired from Consumer just to improve the group culture and people were sad that he left Consumer since he is a great guy. Deal flow is great, Barc tech isn't the same as 3-4 years back, the firm is doing really well across semi, internet, software, enterprise infra/tech. Lots of M&As. Hours definitely not great but Saturday is very protected. Group head also gave the team a protected memorial and july 4th weekend.
Know a couple mid-level (ass, vp) bankers got pushed out last year due to consecutive complaints from juniors - meaning that senior folks actually care and listen to you when your superior is being the a-hole
M&A done in-house by coverage banker in this group, you will get a lot of exposure to hands-on modeling and general M&A process work. Can't think of anything bad bes ides Menlo is a boring area and office isn't as nice as the SF one, and only $25 dinner stipend which can be used only if it is "delivered" to your home address... the rationale they gave is that we are working from home now
What about London?
Any additional info on NYC vs Menlo? Looking for more info in terms of deal flow / exits from each. Which is better overall?
Both have solid deal flow in software (Ben Freeland responsible for most of software dealflow in SF vs. Markovich for NY). Hours are similarly long but culture in NYC is worse
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