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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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.
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.
Wow, this makes me want to join this group even more
Exit ops: drug rehab