Crazy to pick Raine over GS TMT? (SA)
Signed the offer a while ago, US-based. Not sure if I'm on crazy pills but got a few BB offers, but decided to go with Raine in the end. Not going too much into detail to avoid being doxxed - but thought I really thought it over clearly in terms of exit optionality, and so on and so forth.
I do guess a career is long, and technically where you start doesn't really matter THAT much, and MF PE isn't exactly where I wanted to exit after banking so that's why I chose Raine.
Ngl, know I'm in a privileged position where I actually have an offer, and did touch some grass too - but would love to get some honest perspectives from everyone here on whether there's anything I missed out/didn't consider.
Considered the pros and cons really clearly, I guess a huge draw for Raine was its verticals being highly appealing to me - but GS TMT is ofc GS TMT...
Do headhunters (be it for whatever role) still reach out to Raine bankers? I know it's a strong name within the TMT space, but have I essentially siloed myself too early? Or would I be able to lateral if I realised the first few years aren't for me? If I dislike it, I was thinking of just shelling out for the MBA route to pivot away from the industry. I think the fear of turning your passion into a career will SUCK is also a real thing. And I don't see anybody exiting into MFPE/top HFs much (if any) from LinkedIn too.
TLDR: I'm feeling low-key regretful that I gave up the GS offer. I need some reality check and any perspectives on opportunities I missed out on by going with Raine. No worries about needing confirmation bias or copium because I think I have that in spades. Just rip into me if I'm stressing over a non-factor too.
If you’re asking this question then you have not thought it over
(Am OP, and didn't MS you)
I personally do think I really did. Have had a whole long ass pros and cons list, as well as spoken to people with BB IB, MF PE, and MMHF backgrounds, as well as people who are at Raine/have left Raine too.
I guess a legitimate concern is how I may have siloed myself into those verticals early on. People don't see Raine as a stepping stone/jumping board like other banks, and I thought I was always okay with that. But I think it comes from the fact I haven't done it before so I wouldn't know if doing what I love as a career is more sustainable in this sense.
I think back then I had something super specific I was playing for (alignment of my interests with my career, and I didn't really enjoy banking work, so doing an industry I like would be better), but without actually experiencing it myself - perhaps some rose-tinted glasses.
End of the day I think I would have still made the same decision given the circumstances, but not sure if I'm missing the wood for the trees etc.
R u still at Raine
Based on previous WSO threads, here are some insights and considerations regarding your decision to choose Raine over GS TMT:
Pros of Choosing Raine:
Cons and Considerations:
Additional Insights:
Reality Check:
In summary, while GS TMT is a prestigious and broad-reaching option, Raine offers specialized opportunities that align with your interests. Headhunters do reach out to Raine bankers, and lateral moves or an MBA can provide flexibility if needed. Your decision should ultimately reflect your career goals and personal interests.
Sources: Best Headhunting Shops ?, Q&A: Headhunter/Recruiter - M&A Investment Banking, My Path - MBA Banking Associate to PE, https://www.wallstreetoasis.com/forum/investment-banking/laid-off-in-may-at-my-wits-end?customgpt=1, Middle Market Banking Exit Ops, what do they look like?
This might be worse than the guy who skipped over Wellington 10 years ago
This may be the biggest fumble I’ve ever seen. Turning down the clear cut best BB group on Wall Street for a TMT boutique absolutely silos you imo.
How do you justify giving up the best group on wall street... for Raine?
GS TMT analysts: Top 1% earners for their age group
Raine analysts: Top 1% earners for their age group
You'll be fine.
This is the most insane fumble I’ve ever seen
Feel bad commenting this since you already made the decision, but slight fumble. You’ll be fine but don’t know why you wouldn’t just go GS TMT
Jets / Patriots, Thanksgiving 2012, 2nd quarter, 9:10 on the clock
Saw the first 2 words and knew where this was going. Good one HAHA
bump on if HHs reach out
lmao at 'most insane fumble I've ever seen'. You'll be more than fine. There's tons of respect for Raine within finance circles, you might not impress the 19 year old at the bar as much though. And of course, it's a far better place to have a career, I wouldn't recommend anyone trying a career at GS in IBD. If 90% of juniors exit within 2 years, who exactly stays? People who couldn't exit for some reason or have some weird cult-like devotion to a place that allows their CEO to moonlight as a DJ while laying juniors off by cancelling their key cards.
I haven't worked on a Raine deal in a long time so maybe my impressions are dated, but my sense was that they get paid well, work on really interesting deals, and the exits are more to strategics / corporate but again, to some really cool opportunities. Fumble? Maybe? But it's a great seat and I wouldn't look back.
(Ignore title, An2 at EB)
I don't think you fumbled, I assume you're smart enough to acknowledge that GS TMT is top of the street and can get exits anywhere (like everyone here is saying) and so if you thought it through then I don't see why you're doubting yourself - you made an educated decision.
I quite like Raine because their deals are unique, interesting, they pay you very well, and as an Analyst you'd be a merchant banker also working in their PE arm. So if you like TMT (and the differentiator about Raine is mainly their gaming and entertainment) then you will enjoy yourself a lot more in Raine especially since you'll be doing buy-side deals on top of advisory. No idea how hours are like at Raine but my uninformed guess would be that they can't be as bad as GS TMT.
The only backlash I'm seeing here is that GS TMT is "top of the street" - it obviously is but how much do you really value that? It seems like you made a decision based on your personal preferences on how you want your career to pan out and are coming to regret it because you're thinking about the prestige you missed on GS TMT. Mate - who cares? A lot of people at my firm would leave to Raine if given the opportunity RN - it is still very respected amongst bankers.
If I was in your shoes I would be 50/50 between Raine and GS TMT. Trust your decision and go with it, delete this post.
Thanks for the comment, I do appreciate it too (am OP). Appreciate the colour and your insights. I think as with most people, looking past the prestige point is hard because brand (rightfully) does matter quite a bit. For MFPE etc, a strong group at a BB is the place to be but once again I just don't think that's exactly what I'm looking for. The growth equity part was definitely interesting, though lowkey not sure how the analysts manage it. Have spoken to a few and the hours are bad but hey I guess that's great for learning too. I think it's one where it's more of the passion for the industry (love sports, and was something I was involved in) as well as just having a wider range of tasks and really liking the team.
I turned GS down as a summer a bunch of years ago for another larger bank for what I thought were fit / career longevity reasons. That turned out to be stupid - I hated that bank and had to scramble to find somewhere else to lateral to. I unambiguously made a “mistake.” But, you know what, it worked out fine. My path ended up having a few more stops and lateral moves but it all ended up working out okay. As long as you’re in the game at a reputable shop, it’ll all be fine. A career is very very long. I like Raine and personally think what they do is way more interesting than anything your average GS analyst sees. See how you like it and reevaluate if necessary.
(Am OP) Thanks for sharing! Appreciate your sharing all the more given your circumstances. Sad to hear it didn't turn out to be the "best" move, but agreed on the point that a career is a life-long thing too. Something which gave me more confidence in making the move to Raine was also how there's some seniors giving me the perspective on how many roads lead to Rome, and everybody has to find one that works for them. I guess even if it really turns out to be a "bad" choice, can always try to re-recruit full-time or think about lateralling/exits after 1/2 years again too. And in the chance I like it, then that's great!
Short answer, yes
IMO, yes.
Too early in your career to pick based on what may be most appealing years from now. You can go anywhere from GS TMT, including Raine, the opposite is not (as) true.
These same kids giving you advice in support of GS are the same ones who wonder why they hate their lives in their analyst program.
Youll get better deal experience at Raine, you’ll learn way more, you’ll get paid more and amongst people who know, you’ll be a lot more respected. I’m an MD in a completely different industry team and I would any day gravitate to a Raine resume as a lateral over a GS resume because I know the experience will be a lot better. And I promise you junior happiness at a place like Raine is an order of magnitude better than Goldman.
Thank you - as if kids who are 6 months into their career are adequately equipped to give OP any career advice that spans a longer period than that.
What’s done is done.
Raine is an awesome place by the way. Cool deals and great pay.
Brutal beat bro. Might as well reincarnate at this point, low key over for you.
bunch of haters here. Just do you OP. f them haters
Not to be an ass, but the glaze over GS TMT is insane to me. Yes, you'll get "better" PE looks, but who the fuck cares. They're all in the same general stratosphere and you will get similar looks anywhere and will probably hate your life less. And for what it's worth, some of the analysts coming out of GS TMT are absolute dogshit at everything, to the point where I don't even know how they got this far in life and I assume have cruised off the name brand. Hope that makes you feel better, assuming you enjoy workplaces where you respect all your peers.
Congratulations, don’t listen to the other commenters. Raine is a great place to be especially if you have an interest in growth investing.
I started at GS out of undergrad, granted initially as a temp then ops and then trading. I switched to Citi IB after and then worked at a solid tech boutique before ultimately starting a health tech company. I’m now in LMM PE.
My 2 cents is that you made a fine decision. Raine is notable in tech, and as long as your goal isn’t MF PE you will be just fine. Don’t look back or question your gut reaction on your initial decision. My time at a boutique IB was actually great (was there from Assoc to Sr VP). The comp was above market, and I had great hours.
Are you an investor now? Or are you on the ops team?
Sort of both…I source/execute and am an active board member/drop-in exec at times. We are a smaller fund. They wanted my operating experience, but I also have a good network for sourcing. Execution and negotiating are just that. How much will we pay?
Your gut guided you to a decision. You’re clearly smart and well aware of the relevant facts. If you can’t trust your gut instinct, what do you have left? Congratulations - make the most of a fantastic opportunity.
Hi all, don't think it will be nice to keep bumping the thread as I reply to everyone, but thanks again for the advice, kind words, and insights from everyone. Even for the ones writing about how I fumbled, reading it in the way you guys wrote was quite a good laugh. I appreciate the reassurance from the more seasoned bankers and understand the perspectives of the more junior ones, especially those who have exited to PE or are planning to do so.
I think when I posted it, was just to hear some honest perspectives in addition to whatever I have heard on a personal basis - and also, it is easier to receive more unfiltered, raw feedback. I think the conclusion from here tends to be if one is looking at MFPE exits or more prestige-driven options, GS is a clear-cut option; and if it's about enjoying the experience more and having "cool deals", then it's Raine. I think the lifestyle and comp (higher bonus due to the boutique structure) were attractive, and undoubtedly tipped me over the edge - along with the fact I'm more confident of a return offer too (FT employment matters especially as I do have certain financial obligations). But the main thing definitely was the passion and keen interest in their verticals (particularly sports) - I guess if I don't like it for whatever reason (god forbid), I can always re-recruit again for an FT role. Though in that particular context, GS ofc would have been much better.
Regardless, the decision has been made and I will do my best and make the most of it.
WSO has been a great resource, and super grateful to everyone for taking the time - learned a lot (from resume to apps to how to be a good intern; learnt so much and have had good feedback from prior internships) here, as well as the many different fields of finance from IB to PE and HF. Always been fond of giving back, and aim to do so in the future too. Thanks again all for taking the time!
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