Citi TMT dissolving?
A1 here. Just got pinged for a job at Citi TMT but heard through a buddy at NYC BB that 7 associates have quit in past two months.
Can anyone confirm?
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that's why they are hiring....
I can only speak for NY
Knew a girl who worked there, said the group is all kinds of horrible... she did not return.
Interesting.. is TMT a solid group at Citi in terms of dealflow/exits?
Dissolving? You're placing a little too much value on what an associate does... groups don't "dissolve" because a bunch of junior staff leaves. Even if the group head leaves, they'd just replace them, as they will do with any associates that have left.
And if you're asking if the associates are leaving because the group is going away, why would they be simultaneously hiring into the group?
I meant dissolving as in:
awful group culture + sweatshop hours + sh*tty seniors + low client interaction = mass exodus = dissolving
Maybe a hyperbole but this is the internet.
Given what I know about the group, I'm not surprised 7 associates quit in 2 months. I summered in a different group at Citi and heard TMT culture/hours were really shitty. The top 3 ranked interns were all trying lateral into m&a or move to a better shop through FT recruiting. Also know an analyst who quit pretty early in the first year. However, analyst exits were actually pretty decent from what i recall.
I have a buddy in the group who says that the group is no longer pitching as a result of the departures and all pitch requests must be approved by the global head of M&A
Heard anything about SF tech? I thought bringing Ethan Topper onboard had been effective.
Curious to know on SF Tech as well. Heard that they are getting in some deals but don't know anyone working there.
Associates often bail after low bonus and finding out how the lifestyle really is. Plus market demand is high now to switch shops.
yes especially all 7 right ?
definitely abnormal - brutal culture is confirmed, ppl just suck
Know two SA's from Citi TMT - both said their class was running for the hills after getting offers. Very very few accepted full time offers, which is not surprising given the group culture & sweatshop hours.
brutal culture, decent exits
Know someone from NY Citi TMT, they said it was very rare for analysts to last their entire 2 year contract there. Most quit between 6 to 18 months in.
Exits are pretty decent from what I've heard...Apax Partners, Blackstone, Catterton, Soros, Zelnick to name a few
Are you saying the associates left to go to PE shops?
some did, others lateraled to other banks
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