How big are West Coast analyst classes?
I’ve heard that each BB will take about 120 NY analysts each year, and EBs in NY closer to 15-25. But I’ve also seen people say that Moelis LA takes 6 kids for SA each year, or CS La only takes 4-5. Is this true? How does San Fran compare to these LA numbers? Does anyone know class sizes of any other west coast banks?
Generally, EBs/Boutiques will take 5-10 in SF. Less familiar with BBs.
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EBs in NY are more like 20-40, not 15-25
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Most BBs in SF take 5-10, except MS Menlo. They take 10-12 lol. I’d also say EBs in SF take 3-6, unless you’re PJT SF and take 1.
is gs sf tmt also 5-10?
15.
Richard is wrong. The guy trolls around on this website all the time, I wouldn't really listen to anything he says. GS SF TMT is 15. Source: insight day + I know multiple bankers in the group.
Most of the BBs are 10-15/year per group in SF if it's a powerhouse group, 5-10 if it's not as strong. For example, GS SF TMT takes 15 but their healthcare group (still a strong group but not quite as strong as TMT) will take slightly less. Fast-growing EBs like EVR take around 10 total. Middle-market shops that crush it (like WB) take around 5-10 per strong group, 1-5 for less strong groups. The smalles banks (like GHL and Liontree) take 1-3 total. I know that Lazard SF will take 3-4 in their tech group.
As for LA, it's much smaller. LA isn't a financial powerhouse in the same way that SF or NY are. NY, by and large, will have FAR MORE opportunities than LA and SF combined. GS LA, for example, will take around 5 per group. CS LA takes 4-5 total like you mentioned. HL and Moelis, which are both headquartered in LA, will take more analysts than other LA banks (because that's where they are headquartered). But as you're seeing, these numbers still aren't higher than their NY class.
My BB had 11 SAs in SF and 2 in LA. Not sure what the offer rate was.
The west coast analyst class sizes do sometimes vary year to year, but here is a rough breakdown:
GS SF TMT - 15 GS SF WRA - 5 GS LA WRA - 4 MS Menlo Tech - 8 MS SF HC - 2 MS SF FSG / Western Region - 4 MS LA M&A / Western Region - 5 JPM SF Tech, HC, M&A - 20+ BAML SF FSG - 2 BAML PA Tech, M&A, HC - 15 BAML LA Generalist - 5 Citi SF Tech - 5 Citi SF HC - 2 Citi LA Metals & Mining - 2 CS SF Tech - 8 CS SF HC - 1 CS LA FSG/LevFin/Gaming - 5 Barclays Menlo Tech - 5 Barclays Menlo HC - 1 Barclays LA FSG / Consumer - 3 Barclays LA GLL - 1 PJT SF Tech - 2 Centerview SF HC / Generalist - 3 Centerview PA Tech - 4 Centerview LA Tech / Media - 1 Evercore Menlo Tech - 6 Evercore Menlo HC - 2 Evercore SF FIG - 1 Lazard SF Tech - 4 Lazard SF HC - 4 Lazard LA A&D - 4 Moelis SF Tech - 4 Moelis LA Generalist - 9 PWP SF Tech, HC - 5 PWP LA Industrials - 3 Greenhill SF Tech - 2 Qatalyst SF Tech - 6 Liontree SF Tech / Media - 2
Some of the banks above also have Public Sector and ECM groups
Other prominent banks with west coast offices include DB UBS WFS RBC Macquarie Jefferies William Blair Stifel Piper Jaffray Stephens FT Partners Code Advisors USA Houlihan Lokey (great RX group in LA) Rothschild
Hope this helps.
Why have you not included other banks like Stephens, FT Partners, or Code Advisors? Or USA?
Just updated to include those. Obviously missing more, but just made the list on what I knew based on my / my friends' experiences recruiting for these offices.
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No problem,
just trying to help
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From my experience the average west coast group will have mostly west coast targets with east coast schools taking spots sporadically. The more elite west coast groups (Moelis LA, GS TMT SF) will have a higher percent of east coast targets like Wharton.
It varies, a quick look on LinkedIn can provide more specific insight for you, but I would say it tends to be half from each bucket. A lot of Ivy students who are from LA end up recruiting for those banks, so you'll see a large representation of them at the offices. SF tends to be a bit more diverse.
Impressive list, accurate for BARC
accurate for Citi, n1
BAML LA is 6 this year.
Not sure on the exact number, but BAML Tech Coverage and M&A is definitely more than 15 analysts. Taking 10 associates.
Can confirm these numbers.
Rothschild had a 2019 SA class of 6 and analyst class of 3
palo alto or la
Relatively accurate for MS
inaccurate for citi sf
source: intern
Yes, citi hc sf can't have one analyst. He / she would get crushed and not be able to handle
how many interns does citi sf have?
MS Menlo tech is closer to 10/12 analysts
Confirming this aligns with my ballpark recollection from a few years ago
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