Hey WSOers,
I know there is a feed for the specific recruiting process of Liontree for this year. I was wondering if anyone could speak to the culture and particularly the hours of Liontree. I saw an article that they constantly have 90 hour weeks is this true? Or are they similar to other banks? Any advice is appreciated thanks!!!!
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Bump!!!
Same ... I wish I could learn more... saw a scary article
I asked my friend back when that business insider article came out last year (the one that said they had the worst hours). Funny because the source of the article was WSO.
Anyway, my friend told me that they definitely work a lot, but really as a result of live deals and really lean teams. So my impression is that it isn't necessarily more than any other top EB that churns out M&A or top groups at BB with really strong deal flow if that helps. Think they were pretty understaffed then too and they have hired some more junior people since.
Thank you so much... The article said average of 90+ ... is that really true? Does he recommned the place as for SAs?
No. From a target and have friends across most banks... don't think any place averages 90+ lol. That would be 9am to 10pm, 7 days a week for a full analyst stint. Nobody endures that.
In reality like I said, it's pretty similar to anywhere else where you're churning out deals. I work at an M&A group of another shop, but pretty comparable when I compared with my friend... When deals aren't popping off, you're working hard monday through thursday, but friday you're out around happy hour and maybe have to put in a handful of hours on weekends. When you're in the heat of trying to close a deal, then yeah you're probably working upwards of 90/week, but that's the same regardless of where you are... It's investment banking lol. The caveat with LionTree is that it sounds like they get more live deals per capita. So maybe they have more busy weeks in a year than most.
All being said, depends what you're solving for. Quality of SA experience, deal exposure and hours worked are all correlated. Hear their culture is pretty good though.
My friends who work there say it's a lot of hours. They listen to Drilla to get over it.
More hours than others? And how much over others?
When you say a lot of hours ... what does that mean?
What does this even mean? More compared to other banks?
How many ppl even work at LT?
Bump? and culture-- is the 90+ week typical?--- what is typical day like?
They told me ~45 work there globally when I interviewed in 2018, probably a bit bigger now.
I had an informational with them recently, globally they have 80-90 banks, NYC office alone has ~45-50 bankers...
Honestly not sure what to even say about that article. If you search WSO or see accounts of any other firm, you see people constantly comparing and quoting things like 100+ hour work weeks across most top group. I find it funny that people are freaking out about 90 hour work weeks... if that is your fear honestly banking isn’t for you - not meaning this in a mean way. Just saying no matter which bank you end up at (if it is a good group) you are going to have times when work hours are pretty rough, and if that is your number one concern and priority I suggest you look for a different job with better work life balance that fit your goals... 2-3 years of an analyst stint is a long time if you hate every second of it
how do their exits compare to citi, baml, ubs, dB, jefferies, etc
A friend told me he typically got in at 9 am and worked until around 2 am on weekdays, and worked every day of the weekend too during his SA stint
How about ft?
People in this thread are saying "oh all banking groups will say they have hours like that, all these groups are the same" but they're not offering any kind of specific information to back that up. I know people who have worked there and have had bad experiences so here's my 2 cents.
1) The hours are real. For my friend who was an intern they worked 9am to 2am Monday-Thursday, maybe getting out at 9pm on Friday and then 8 hours both weekend days. That's a lot as a baseline, and they would have stuff go live where you needed a book the next day and people would pull all-nighters to finish that stuff
2) The internship cuts a lot of people. I know some people who were stellar at their jobs and got axed at the end of the summer, because the company will hire more interns than they need and then just arbitrarily cut people. Not what you want from an internship
3) Don't fall for this idea of deal exposure making this a more prestigious job than a middle tier BB. If no one has heard what firm you're from, how are they gonna know how good your deal exposure is? And just because you get a lot of responsibility on deals with big buyside clients doesn't mean the buyside client isn't gonna play it safe and hire from top BB and EB groups like they usually do. My understanding is the exits aren't great to say the least.
4) It sounded like the culture was work hard/play hard in a bad way. It sounds cool to be solo staffed on big projects and getting all this responsibility, but once you get 6 months deep into banking you're gonna realize it sucks because you are chained to work every waking moment with no one to take over if you're not available.
My advice would be to proceed with caution and think very hard before accepting an offer there.
Have you experienced it firsthand?
Homie literally says he knows people who have worked there in the second sentence
On your point no.2, how do you know that the interns that were cut were stellar? Just curious.
People who got cut got offers at better firms and are top performers there. Also they didn't have any issues over the summer and got completely blindsided by getting the axe, and weren't given good reasons as to why they didn't get the offer.
Also, their intern class this year looks like 8 in NYC and 2 in SF - this does not look like over hiring given that NYC has 40-50 bankers and SF has ~15? Looking at the totally analysts this looks like the minimum number that they want to convert. Not saying that the hours you are quoting aren’t bad, some of this seems like a quote of the extreme view and not sure if point no.2 can be backed. And yes, I am saying this because after spending 4 years in banking we all have friends from most shops and not all of this seems accurate and is misleading to say this as a blanket statement that 100% of the people there have that experience.
This is nice to hear... obviously banking is hard, but I feel like hours there would be similar to other boutiques. How did you hear about the intern class size?
I mean hey, you don't have to listen to me. I'm sure there are people who have a great experience there. And yeah you can quote how many people work there and how many interns they have, but this is something that I heard happened over two separate summers. I also never said 100% of people would have that experience, don't put words in my mouth.
OP - I would advise you get multiple points of view from people. I commented because I had anecdotal datapoints on the firm and thought you should be aware. Also be aware that people will anonymously rep their firm in the comments here sometimes. Some of the stuff I mentioned may have changed but these are things I've heard over the last few years.
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