Citi M&A? Other good groups at Citi?
What's the reputation/culture of Citi M&A? How do they place? What are other good groups at Citi (Industrials?)?
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Powa!
Sweatshop
From what I know about them they are a solid place. I would hope an M&A practice at one of the largest banks in the world would be a good place to work. I think energy may also be strong there. Likely all the groups are. But I think my personal experience may be mainly with their energy team , M&A team, and maybe like TMT. I don’t remember so much. It’s Citi so like everything has a solid rep there. It’s a SIFI probably. Ah I also have some experience interacting with their FIG team, also sounds solid.
yes industrials good too. I would think placement may depend more on the individual candidate. But hopefully the people there can continue with citi if they want and/or go work for whomever else they may want to work for be it PE, HF, etc. I would think with Citi IB analyst experience it would be feasible to interview for the general places people on here want to interview at. But I don’t know for sure. Good luck as always
This is the most ponderous response I’ve ever read on this god forsaken website
Lol
Does Citi M&A NY work with the Tech SF team even though they’re across the country? Who owns the pen to the model?
Good experience, will work hard and a sweat shop group. Best group for PE exits is definitely Citi sponsors. Industrials has a good rep. Only look at FIG if that's what you want to do long term.
Media and Telecom is sweaty with bad exits.
Sponsors recently lost seniors
--
Consumers and sponsors
Went through group selection this year. Here are my takeaways:
M&A - Really strong group with good exits. Most industry groups don't do their own modeling, so they run the majority of models. Ie good technical experience. With that said, brutal hours and semi-toxic culture. Had a lot of attrition this past year.
Industrials - another strong group. Culture seemed good too but you will get worked. Seemed to get looks from good shops, but candidate dependent (as is the case for most groups at Citi)
Tech - Did not hear great things. A lot of pitching and not many mandates. Had a lot of turnover this past year. Will also get worked
Power - One of the best P&U groups on the street. generally smaller deal sizes, but high volume, which offsets. Culture seemed good, but you will get worked (noticing a trend?). Exits are strong to MF infra given they hold then pen on the model on virtually every deal (minimal M&A involvement given complexities). Also possible to exit to UMM (maybe MF?) generalist especially if you are focused more on the tech side
RE - another one of the top groups on the street for its industry. People seemed super fun. Probably one of the groups where you'll work less relative to other groups. Also hold the pen on the model (like P&U). Exits are strong to MF REPE - potential to get siloed
Media and Telco - strong group that seemed to have great people at the junior level. Brutal hours tho. But they seem to have a lot of fun. Probably longest / most brutal hours at Citi tho.
C&R - didn't talk to a ton of folks here. Have heard mixed things about exits and deal flow but they seemed nice?
Sponsors - good group. Good exits. People seemed solid. Run most standard lbo processes and manage sponsor relationships. Couldn't tell how sweaty they were tho
HC - solid group. Decent exits. Dope people. Might've lost a lot of seniors recently??? Definitely do some cool deals. WLB seemed on the better side but it's still banking
Edit per below comment:
FIG recruits separately from the rest of IB, so I can't shed too much light on it. But from what I know from people from my school in it is that it is a sweatshop with a bad to decent culture. Can't comment on exits or deal flow.
Did I miss any?
Fig
Gotta second Power and Industrials^ also FYI, they break HC into SF and NY offices
Can you PM me?
Sorry, but some of my other posts could make it clear which group I’m in and I’d prefer the anonymity based on what I said. But feel free to ask questions here
..
Heard tech is doing pretty well this year and last year
HC a fun group?
Tough to say definitively, but the people I talked to seemed like they had a good time as a group, and the past intern classes were all close as analysts.
Heard through a friend from bschool currently at Citi that they've consolidated a bunch of groups. Not sure how much difference it will make on day-to-day tasks or if it improves exit ops at all, but food for thought anyway
Technology and Communications --> Consolidating Tech, Comm, and FinTech (formerly part of FIG) into a single vertical (apparently sits on the WC)
Healthcare, Consumer and Wellness --> Consolidating HC, CPG, and Retail into a single vertical
Natural Resources and Clean Energy Transition --> Consolidating the Energy, Power, and Chemicals (formerly part of Industrials) into a single vertical
I think that's more at the senior / coverage level, at the junior level you're still place into e.g. C&R - you won't be working on biotech deals anytime soon (if ever) if you sit in Consumer rn.
Thank you for the response. I am interested in their M&A Group, and curious to know whether the reason people leave this group (perhaps to another bank) is mainly due to "semi-toxic culture and brutal hours". I would like to join a group that can potentially give me a good exit opportunity if I want to one day. Thank you again!
Historically, Citi sponsors (FEG) was a lifestyle group that still had great exits. I was in it, and we'd get our choice of analyst picks outside of those who wanted a specific sector or M&A for whatever personal reason. I had a very unique experience, but that was on me to a degree and some PE clients who liked me early on (I was asked for by name to be on all of the deals for 2 major funds). We had a lot of really good senior people and sharp analysts. This is 20 years ago, but Citi TMT was pretty weak. HC, FIG, O&G and Industrials were all very good. Retail and Consumer was sort of the redheaded step child at that point, but one of my good friends, who was in it, did well for herself.
2023 update: Absolute sweatshop. Pretty sizable attrition at the junior level is a consistent trend in that group. Culture is pretty bad too. Source friend of friend who I know.
Funny side note - my cousin who graduated a year ahead of me was in Citi M&A during the tech bust. I went to visit for spring break 2002. He was the only person on the entire floor at maybe 6:30PM. Every other analyst and nearly all of the associates were let go. The seniors weren't even coming in at that point. He basically surfed the internet all day until he left to do a 3rd year at GS.
Bump, where have past analysts exited?
Bump on Citi M&A? Is it mostly industrials and TMT deals? Has the culture improved since 2021 or is it still semi-toxic?
Del
What do you mean by non-existent culture? Would you pick that other strong coverage groups at Citi (industrials, Media & telecom, FIG)
bump
Bump on Citi M&A? How hard is it to be placed there during group placement? How does it compare to a strong coverage group like Industrials in terms of exits, culture, hours?
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