Is all the bashing that Financial Technology Partners gets on this forum deserved?
First year analyst at a lower tier BB thinking of switching shop to get some meaningful deal experience in the tech sector. As a side note, I'm not currently in the tech group at my BB but the tech group is pretty terrible in deal leagues so doesn't make sense to transfer internally. Saw FT Partners looking for experienced analysts, but a quick browse through this forum makes it seem like the firm's reputation and culture makes it not even worth to apply... Anyone care to explain what's with all the hate?
The FTP website and a browse through linkedin tells me otherwise: seems to me to be a reputable shop getting in great dealflow with pretty good exits to places like Vista and Parthenon Capital?
Pros: - Comp - Dealflow - Exits (at least for the SF office, what other guys have told me is if you can handle a year at FTP you're good enough for us)
Cons: - Hours (no protected weekends, on multiple deals at once, lots of cross-border M&A)* - Culture (not that it's any different from other shops, just that it's pretty intense with lean deal teams)
In regards to culture, Steve, the guy who founded FTP, is a huge workaholic, so the culture is set from the top. That being said, if you're the type of person who thrives in that environment, go for it.
*They're trying to make this better by hiring a larger FT class
(NOTE: this is all secondhand information from friends who worked at FTP, current analysts, going through their interview process, and my mentor who's hired their analysts as laterals)
Yeah I've heard similar. Deal Flow is apparent, I think exits might be a little limited to Tech/Growth Equity/VC. RT about the work culture and hours being quite crazy
Have a good friend who did his summer in their SF office. I believe he said 6 of the 10 summer analysts did not accept return offers. He didn’t accept because he was legitimately concerned he wouldn’t be able to handle 2-3 years as an analyst there. My friend is one of the hardest working people I know for what it’s worth.
Training here is amazing. We actively seek to hire their analysts. Lots of hours I am sure, but people come out better trained than almost anywhere else on the street.
Definitely a very underrated shop though they seem to be picking up traction lately based on the backgrounds of recent starting classes and some high profile deals like Greensky and Stone.
I have heard though that the culture at this firm can get toxic, and you see a high attrition rate in the analysts where they are leaving before the typical 2-3 yr makr, which works out well for us in terms of laterals. A kid who worked there now working for my BB was surprised by how he nicely he is treated by the senior folks here and the amount of mentorship he is getting from us.
Read the Glassdoor reviews to get a better picture of them. They run their shop very aggressively and are always aiming to grow as fast as they can and be recognized as an amazing bank. This motivation to succeed often leads the senior members of the firm to ignore the experiences of its junior employees. At the same time, the firm is trying to actively question and understand why there is so much attrition overall so much so that it was brought up during an entire firmwide event for discussion.
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