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M&A recently improved headcount by almost double among juniors leading to better culture and WLB. Very social as well. Will be exposed to plenty of deals, which will provide long hours. Exits remain top notch.

HC remains one of the best HC platforms on the street minus CVP if you’re talking biotech. Will be exposed to various products. Very intense and will have late nights but the team is usually super tight knit. Long hours though. Exits remain good.

M&C recently added a Sports coverage under their umbrella as that asset class expands but very heavy with Telecom still. Culture though might be among the worst at the firm. Recent exits are subpar.

Not sure how exits will be going forward for the groups given the new policy at the bank.

 

Don't typically comment on WSO post but saw this pop up on my feed and felt the urge to comment. I was part of M&C but left a few months back to pursue another opportunity. Personally had a great time within the group. People say culture is the worst and I'd strongly disagree. Frankly, I've heard worst things from my friends in FIG and HC. M&A is such a big group that its hard to get a uniform opinion of the group. I will admit M&C is a somewhat intense group, but it mostly stems from the high expectations and high quality work that our clients expected. Nonetheless, there's lots of banter, memes flying around on Outlook and yes expect late nights + weekend work, but that should be similar across all of Wall Street (at least from what I heard from my friends at GS and Evercore).

Although it may be true that there is a solid chunk of telecom (fiber, cable), there's been a lot of digital infrastructure as well in the form of GPUaaS and data center deals. The team has also actively hired seniors to revamp its Gaming, Sports and Info Services verticals, so definitely expect more staffings and live deals in the form of sponsor-owned info services sell-sides, Indie gaming studios + giants like Roblox and more sports deals similar to Boston Celtics and Mercedes F1. Wasn't there when some of the rollout begun so its hard to tell how long that will last in the grand scheme of M&C verticals. Definitely will say that the EDs / VPs they hired are well connected in their respective spaces.

In terms of M&C's exits vs. M&A and HC, it's definitely hard to compete but at the same time HC exits tend to be at top firms only as long as you stick to HC (if youre not passionate then not worth imo). M&A exits are quite broad from startups to VC to GE, etc. In terms of examples, recent exits for M&C include Disney, Apollo IR, Redbird, decent amount of TPG, Eliott. That being said, there are not as many as before given there are more and more A to As (~3 every year). For M&A I've heard of Blackstone GE, GTCR, CD&R, Bain Capital, etc.

 

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