Evercore TMT NY vs. Tech Menlo
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No TMT group in NY, but to answer your question, evr NY "prestige"/exits >>
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Is 4 MDs / Analyst higher or lower than average? What's the implication?
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Exits are equal across offices - differences are due to natural selection than talent. Ex: Menlo has recent exits to TPG Growth, Thoma Bravo and General Atlantic (with more exits on the growthy and non traditional side) and NY Tech has more MF exits (KKR/Silver Lake etc.)
Both teams get all the attention from all the headhunters during on cycle and considerable off cycle opportunities. Word on the street NY Tech tends to handle the larger multi-billion public transactions (lower quantity) while Menlo does more private mid-large size transactions (higher quantity). If you choose NY you run the risk of not making tech as it is a highly competitive matching process during training and everyone wants tech. If you don't hate the Bay Area and want to guarantee a spot in tech banking choose Menlo. You can recruit to NY PE from Menlo just more a pain in the ass for obvious reasons. All else considered you will get similar rigor of experience and opportunities if you can break into either office.
Current EVR analyst here that’s not in tech but knows most of the NY and Menlo tech analysts. NY is going to be a superior experience.
Looks like a comment on this thread was deleted but I think it alluded to the fact that the SMD-MD to Analyst ratio is abnormally high in Menlo, and that creates a terrible environment. I’ve heard this point discussed among people in the Menlo office before.
Retention in Menlo is worse at the SA level. There is a current NY An who switched after a summer in MP.
Culture is terrible across both locations. My tech analyst friends like to say it’s not bad and shrug off the bad incidents, but when I compare their stories to people in other groups, their culture is bad. The Tech-Media-Comms groups spectrum is generally just awful on a culture basis (honorable mentions to IUR, RE, and industrials for also treating their analysts like shit). senior bankers treat their junior bankers terribly. Historically, the VPs don’t protect their junior team members (heard this was changing, but I’ve witnessed many examples of analysts being mistreated by VPs).
In terms of NY group placement, tech is a divisive team. Majority of the class wants nothing to do with tech, and it’s not as popular as the other comment makes it seem. There were 60 people in the class this past placement cycle, and there were probably 11-12 people who seriously wanted tech at the end of matching, and there were 7 spots. If you’re open to media/comms, you can add on an extra 10 An1 spots available among those groups as well (those are arguably more popular and difficult to get into though).
Can’t speak for Tech NY, but Tech Menlo is obscenely sweaty.
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