That’s right folks. It’s another “which one and why?” forum.. “A friend” received lateral offers from CVP Tech vs GS TMT and has pretty much made a decision but he/she wants to hear some thoughts from the monkeys ... always great to hear different angles. It’s not clear whether PEVC or corporate roles lie ahead or even a possible rap career so please share thoughts on any and all perspectives for future prospects. Money is obviously favoring CVP even with the delayed Associate promote. Thanks guys -hope this helps others down the road too!
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Personally id take CVP, and I believe CVP is generalist all 3 analyst years. You start “specializing” in your industry come 2-3rd year associate or VP
Thanks! I believe you’re correct when referring to CV NYC. However, their SF office does only do HC while LA and Palo Alto only do Tech advisory. The comparison here is between both West Coast GS TMT and West Coast Tech CVP. Still leaning toward CVP though I take it?
Honestly can't speak much to it since I've only extensively networked and recruited with NYC groups for both GS & CVP. Honestly might depend on what you want to do in the future.
Assuming its a lateral role (you have 1 year of experience give or take) both will probably make you start again as A1. That means for Centerview its 3 more years (a total of 4 year analyst stint) which could be gruesome. Also since Centerview is "relatively" new exit opps aren't that established in NYC, although I'm sure its stellar, that might hold even more true for their SF office. Having done 1 year of analyst stint if your "friend" is interested in becoming a career banker then I'd still take Centerview but if its exit opps sounds like more of a toss up.
Then again take it with a grain of salt since I'm not in the industry and this is all I've gotten from networking/interviewing when I made my decision.
I’ve never even heard of Centerview in SF....
So SF is HC only while Palo Alto and LA are tech only. Their HC group did gilead/kite and CVS/Aetna last year. Tech banks Qualcomm and Cisco as well as some guys like seagate and dell. I can’t be certain of what was closed last year apart from Cisco acquiring AppD($3bn) and seagate /Apple on buying Toshiba chip business ($18bn)
Centerview in SF is tiny with few deal flow. It is never a big name in tech space. I'm not sure if that would affect the exit though.
That's why they have done two of the largest biotech / pharma deals in the past 6 months out of SF? Plus the SF office doesn't work in tech at all? That is all Palo Alto
That’s fair. To add color, most of CVP tech’s senior team moved from NYC a year ago and is growing out the office. So any deals you’ve seen in the TMT space including Broadcom-Qualcomm, Cisco acquisition of appdynamics and seagate buying toshiba chip business would be this group. Also, media guy in nyc is supported by juniors at these offices so Disney fox deal was worked out of this group. Deal flow is not as much as GS but there aren’t any follow ons, IPOs or debt raising mandates. Some would view that variety as an advantage but when there are 100 people in an office splitting that much variety it isnt guaranteed an analhsf would see M&A over their firet two years. The exits are still top notch but you’d guaranteed know your stuff out of a lean M&A group don’t you think?
You should go with your gut, but that being said, from what I’ve heard GS/MS/Qatalyst, and sometimes Laz and CS, get almost all of the bay area tech m&a. I was under the impression CVP has a pretty minor role in Broadcom/Qualcomm, but again I could be wrong.
Interesting take - Definitely hear that about the first 3 but LAZ only gets deals from Google pretty much (which aint half bad) while CS is struggling to get much M&A. I know CVP is lead on the QCOM side and focuses on advising boards as opposed to management and that's firmwide. Gut is saying CVP based on the fact there is guaranteed exposure and a chance to develop ties to the heads of their tech practice as part of the first crop of analysts in this building. It seems like you could come out with a great skill set and network but it would be on you to get to the buyside guys. I know some guys out of the group just signed with MF PE and MF Tech PE shops as well as a recent exit who already started at Andreessen(don't feel like googling spelling) Horowitz. Per capita the hit rate has gotta be higher than the other Bay Area tech shops. Take these facts with a grain of salt as they're second hand from analysts.
I think 9/10 people would take GS TMT in this situation. It sounds like you really prefer Centerview, and if that’s the case you should totally go for it. But in terms of tech dealflow, exits, and prestige in tech banking, I think GS tends to win here pretty handily.
Centerview for the money $$$$
CVP has little to no presence on the SF and LA scene...like 0...i mean 0...
if you want to be banker for life sure, its a good choice, and they pay fcking well .
if you want to exit..its one of the worst choice of your life and your afterlife to let go of GS TMT
You would be crazy dumbo minded to not go for GS... especially the zeus of IB ... GS TMT
Only EB you shuold consider on the westcoast is Moelis, qatalyst and Greenhill
Uh what? SF definitely has a biotech/pharma presence. They did Gilead / Kite and Avexis / Novartis in the past 6 months... The partner there used to be a top guy at BAML
Do you have any more insight to Greenhill's SF office? Have heard great things about them in the past, but now sure if that will continue as the firm seems to be struggling recently.
WC EB only Qatalyst and Evercore. GHL and Moelis no.
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