FT vs Credit Suisse TMT
Interested in opportunities at both of these two, curious to hear honest opinions on this. FT gets slandered when in reality I've spoken to former analysts who enjoyed their time there and had solid exits
Jun 16, 2022Jun 16, 2022
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Comments (30)
Two very different experiences. 2 years would have said CS, now I'd lean FT, esp if you have strong FinTech interests.
This was said about CSTMT about 6 months ago:
The group just hemorrhaged senior bankers after Archegos. Almost entirety of SF was wiped out (1 coverage MD left), vast majority of internet and software bankers across both offices are gone.
plus, with SPAC market likely burning out (CS was top 1-2 SPAC player), would expect deal flow to dry up even more.
with that said, if you want to do tech at CS, NY is the place to be. 75% of headcount is NY (especially at senior level), and the group is pushing really hard to get new hires in the door by Q1-Q2.
tech is the most important industry group to the firm and where the most investment dollars will go into the IB, so I would expect the rebuild to be strong. But group is obviously hamstrung right now
CS just lost 2 senior bankers to Citi, including co-head of software. Wonder how that would play out
I would go for CS TMT. FT is very focused on private placement where CS can get a variety of different types of deals, and right now market is brutal for companies with no earnings / have a long path to profitability. FT culture is not perfect obviously but I've had good experiences, and they did a bunch of initiatives on culture improvement since pandemic. Exit wise FT does get look from MMPE/GE/VC from my experience, but definitely not mega funds. Pay FT >>> CS
How easy is it to lateral from FTP to another IB shop? Specifically top 3 BB or any EB
Easy - you will get looks from headhunters for sure. FT runs a PP pretty similar to a sell-side M&A, so you will get skills you need for lateral like modeling, and 100% deal execution helps too
Oh god. Unless you absolutely love FinTech and plan to stay in it, do not go to FTP.
CS Tech
Ft has a pretty unsustainable culture….
Not true, been here a full year almost and culture is one of the best
Cracks me up all this nonsense from those that have no idea
Seniors are great to juniors, we have happy hours all the time, free lunch, free dinner, protected friday after 6pm and protected weekends are huge priority for the company
How often are protected Fridays and weekends? Esp since it seems to be live deal work basically all the time
Do y'all really have free lunches or is it like a once-a-week free lunch kinda deal.
Can I PM you?
American cheese is better than Swiss cheese.
Wow, people hating on CS is insane. FT Partners is a joke of a boutique, while CS remains a leading bank regardless of the recent negative news. Choosing a no-name shop w/o exit ops instead of a mid-level BB is peak stupidity, not even god could help those folks
To compare FT to CS is a joke
FT is killing it
CS is killed
LOL
Damn, FT Partners really is paradise according to these comments
Pick FT if you're a hardo
FT all the way, hardo or not.
CS purely for the brand, which will take you further
Credit Suisse is having a historically good run right now. Absolutely on fire lately. FT Partners is some shitty little boutique nobody outside of WSO trolls have ever heard of and all they do is co-manager roles for crappy pre-revenue biotech deals anyway. Join Cantor if that's what you wanna do.
What do you mean by historically good run? My understanding is they have hemorrhaged senior bankers and they lowered revenue/profit guidance for the investment bank just last week. Are the new people just killing it so pipeline looks good?
Troll here. CS vs FT Partners is a very valid discussion to have. Two totally different experiences.
FTP all the way. Definitely see how it's tough but go make that bank
I like how everyone tries to keep competition down by hyping up a no-name show and recommending it to desperate students. Keep going boys!
I don't understand how it could be considered a no name shop?
This can be broken down to a lot of different
categories.
BB vs Boutique: The difference in experience applies here. If it was GS TMT vs FT Partners I would call you retarded for even asking the question. If it was FT Partners vs UBS/DB, I would also say you are retarded for even asking (FT being the obvious choice here).TMT vs Pure
Fintech: Go FT if you are die hard for Fintech, but if you were, I dont think you would be asking this question. FT will give you exit opportunities to good GE shops, rare MF looks, decent VC looks, and incredible industry opportunities within fintech. CS will get you looks from MFs for sure, and good industry opportunities across most verticals within TMT. GE/VC probably not as good as FT Partners tbh.
Pay: Honestly, if a 50-60K difference in your first two years of your career makes a big difference for you, go with FT. Need to rlly look at bonus numbers to be sure, but I dont think FT would cut bonuses by a significant amount. FT raised bc they are losing talent. Would be really bad look for them if their bonuses take a huge cut. FT all in I would estimate to be 250-280 (base + signing + bonus) CS, you are looking at 170-230 range.Personally, I would go with FT based on the breakdown above. Additional 50-60K will significantly change my life right now (low income family). I prefer boutique experience and the opportunity to solely focus on execution is very appealing. Lastly, GE is my end goal for me right now.
Edit:Also ignore everyone just shitting on both CS and FTPartners. Those guys are just jokes. CS will still have the legacy and carry great weight on your resume when the time for your exit comes around. FT Partners undoubtedly dominates fintech and pays well. Exits are great if you want to do GE, and junior pay is good. WLB at both banks are shit, this applies to 90% of legit investment banks. Cannot believe how stupid some of the advice are on this thread. Shut the fuck up PLEASE!
Any MS yall clowns want to throw at me please elaborate and point out where I am wrong. Thx
Ofc none of the MSers are pointing anything out to disprove my rationale and breakdown above 😂 CS vs FT Partners is definitely a valid discussion to have.
Even after everything, I would still take CS over FTP
Disagree
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