Citi NY Tech Verticals

Based on the most helpful WSO content, here's what you need to know about Citi's tech verticals in the NY office:

Deal Flow

• Citi Tech Team: The team has been performing exceptionally well, especially since the new group head restructured and verticalized the team down to the analyst level. This restructuring has led to significant hiring of MDs and a strong deal flow.

Culture

• General Sentiment: The culture at Citi varies widely across different groups. For the tech team, it's noted that you either fit in and love it or you don't and hate it—there's no middle ground.
• Specific Groups:
  • Citi M&A: No face time required.
  • Citi M&T: Known as a sweatshop but with great people.
  • Citi Sponsors: Diverse backgrounds, similar to BAML Lev Fin but smaller.
  • Citi Industrials: Comparable to GS TMT in size with a GS C&R culture.
  • Citi Power: Chill juniors, work hard play hard culture.
  • Citi RE: Laid-back seniors and juniors, similar to GS C&R.

Work-Life Balance (WLB)

• High Deal Flow: Groups with high deal flow, such as top-tier groups, often result in long hours and a stressful environment. This can lead to burnout over a couple of years.
• Less Busy Groups: These groups might offer better work-life balance but come with less deal experience and fewer exit opportunities.

Exits

• Citi Tech Team: Approximately 50% of analysts in the recent cycle have exited to major firms like Thoma Bravo, Silver Lake, KKR, Bain, and Carlyle. This indicates strong exit opportunities for those in the tech verticals.

Summary

• Deal Flow: Strong, especially post-restructuring.
• Culture: Varies widely; tech team is polarizing.
• WLB: High deal flow groups have long hours; less busy groups offer better balance but fewer exits.
• Exits: Strong, with many analysts moving to major firms.

For more detailed insights, you might want to explore specific threads on WSO or connect with current or former employees in these groups.

Sources: Citi - Culture of Groups, Banks with best cultures, EBs NY vs SF offices, Guide to LA IB Scene (2023 Edition), Personal Experience with Houston Energy IBD - Thoughts on Industry Outlook? (Long Post)