I'm curious to hear thoughts on the firm. I've come across a few older threads, but I was wondering what the 2023 sentiment is on Lincoln; specifically comp, reputation on the street (relative to other MMs), and the best groups within Lincoln. I have heard that it's a fast-growing firm, but any additional details would be greatly appreciated. Thanks!
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Well respected MM shop. We see a ton of deals from them. Analyst experience is more process / ppt heavy than technical modeling stuff.
Best group is industrials as that’s really the group the founders covered I believe and then they have built the other coverage groups around that over the years
A step below the HLs, Blairs, etc. of the world but not far off
Any thoughts on their TMT group and/or any noticeable difference between NYC and SF office?
NYC office has a strong presence in cybersecurity, and with the acquisition of Spurrier Capital Partners strong relationships with big software players, however the founder of SCP is situated in Miami currently so can't say much to SF office
Is Lincoln a foot in the door to EB/BB for ft recruiting or lateral move later as an analyst. Wondering if anyone could shed light on this
BB lateral move possible, have seen 2 lateral to BoA in Europe, however they were in their associate-VP years, caveat that with the tenure usually being much longer at LI as people like the comfortable banking lifestyle there so prefer to stay for some time
Best group would be industrials. Objectively strong and fairly-positive culture, strong A2A promotion. First few years as an analyst will have no modeling experience though, from what I’ve heard from both the firm and other sources. Modeling experience will be for associates and up, but I’m sure there are exceptions. Solid MM bank overall.
HC team is quite good too
Have an offer there but really want to lateral to EB/BB down the line. Would that be possible?
Yes, would be a good school and set you up decently for BB lateral recruiting, but would need to you use downtime to learn more technical/financial aspects of the job since junior years there are quite process and ppt heavy compared to other MMs/boutiques
Would caveat others that while the default role for analysts is more process-oriented, if you are good and can prove your technical abilities you will get the appropriate responsibilities to be involved in modeling and other analyses. It's not as binary as some people make it out to be on this site
Have an offer with Lincoln but I am more interested in C&R. Does anyone know about the Lincoln C&R team and whether or not that would be a good group to join as a FY analyst?
Thanks.
Consumer can be pretty sweaty at Lincoln, and isn’t regarded as well as their other groups (Industrials, TMT, Healthcare).
Thanks!
Consumer culture varies significantly office by office. Would definitely look into the different cultures across Chicago, LA and NYC to see what you like best
NYC office has faced serious challenges with turnover. Would definitely opt for Chi or LA if you have a choice.
They just cut 10% of their bankers as of yesterday (per a close family friend who works there)...first time they have done a mass layoff apparently
Much less than 10% of bankers. 37 people across both bankers and support staff. ~5% of total US employees
I believe this was mostly across the M&A teams. Their VOG and Capital Advisory groups are actively hiring.
Lincoln is extremely sweaty but has a good culture. The issue is they run much too lean for their deal flow. Look at any US M&A league table based of # of deals and they'll usually be in the top 5-10. The problem is the $ per deal is low. That said, I enjoyed my time there. Overall a good place to get a ton of a deal reps. Group dependent, but you could expect to close around 2-3 deals a year. I have friends at other banks who didn't close a single deal in their entire two year analyst stint.
I’m in M&A industry coverage at Lincoln, and WLB is heavily group and office dependent as it is at most firms. Capital Advisory is an absolute sweat shop group across the board though.
What are the better WLB groups in Chicago?
Can you provide insight into NYC office? What groups are good (WLB, experience, team culture, etc.)?
TMT and Healthcare have great deal flow and are the largest - most of the TMT team sits in NYC with some in SF / Chicago. You will see high volume, low EV deals (although both tech/HC can go $1B+ in transaction size, most are in the $100M-$500M range). WLB will be bad across the board given the volume of deals, and there are no "lifestyle" groups in that office or really any Lincoln group / office to my knowledge. There are some challenging personalities in the NYC office but I'm sure they'll be pointed out once you join lol.
Any insight on capital advisory?
Wondering too…
Can you expand more on this? What is their WLB from your perspective?
How is their valuations team? Is it a good stepping stone to IB?
Delete
Anyone know what bonuses were like for Lincoln this year?
Any chance anyone has the model exam?
Curious as well
London view here.
Industrials they are a top MM shop. Not sure on other sectors.
I heard from people who were there that the associates do the technical work and analysts do the process stuff. You don't get a good technical foundation as analyst (similar to a few other posts on this thread).
Bit of a sweat shop / chop shop with a lot of churn as most analyst use it as a springboard to better shops.
is industrials that strong in London? had word from friends there that healthcare and tech were much better than industrials
Can any one provide info about the LA group?
interested too
Interested if anyone can offer any color on the LA teams? Interested in moving from NYC to LA.
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