Analyst at one of the Menlo firms with opportunity to lateral to GS TMT NYC. Wondering if anyone has thoughts. Went to school in NY so being drawn to the city versus Menlo (which currently feels boring having lived here a bit)
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Think if you already want to return to east coast t’s only going to grow from here. Obviously GS TMT is at least as good as current group/firm. Only potential downside is comp haircut if at EVR/CVP but non factor as junior
It feels like the decision hinges more on city preference as opposed to anything else. It’s early career so they are all good platforms. When you are more senior then the platform itself and coverage vertical may matter more. If you want NYC over menlo then move. If you prefer Menlo/CA/SF then stay. Good luck
A couple of thoughts here.
First, are you at MS Menlo or EVR/CVP? MS Menlo (+ GS TMT SF and Qatalyst) are the top tech platforms, with a good gap vs EVR or CVP.
Also, are you interested in tech IB? If so, stay in SF/Menlo vs NYC. There isn't really a robust tech IB in NYC. GS TMT NYC (as opposed to SF) is maybe 20-30% tech and the rest is just telecom/datacenter stuff, which is quite boring.
IMO, if you're at MS Menlo I wouldn't consider moving, it is probably the best time to be a tech banker and the experience you'll gain will be unmatched vs whatever you think you will gain in NYC. You can always move to NYC after your analyst years
Appreciate the perspective. How does PE recruiting work for CA based banks? I have heard anecdotally that most NY based firms recruit NY candidates given the pool is so big and generally high quality. How would it work for a CA-based analyst trying to move to NYC PE? I do know most of it is likely self selection from CA-based analysts naturally working in SF PE but curious if you have seen any make the move to NY
it is more a matter of choice to be frank. Know multiple folks from GS TMT SF or MS Menlo that have got MFPE offers in NYC and went with. Others opt to stay in the West Coast, given most tech investing is done out of there. Also, why would you go to do PE in NYC at some random industry vs being exposed to tech investing in possibly the best time in decades to be in the space (obviously not talking about sponsor-backed software shitcos but funds with more AI-thesis around them)?
GS NY focuses more on telecoms and comms (it has tech and is part of the same team as SF, but more MDs are focused on T&C part of TMT). If you want software/AI exposure, I would stay in the Bay.
There are only a handful of firms in Menlo that do well - MS and EVR/CVP. If its anyone else, I would take the GS NY move.
If you are at MS, EVR, or maybe even CVP Menlo- i would consider staying in the Bay. There's really not much to be gained in terms of exits if you move to GS NY (and you have to re-learn/re-prove yourself again). The recruitment pipeline out of all of these 3 shops is going to be the same as GS. The marginal gain from CVP is that you trade a 3 year analyst program for just 2 (so you would be recruiting now for next year exit).
Curious about CVP, how would you rank them as a platform vs the other two? Do you have any insight into culture / deal flow
EVR or CVP aren't really in the same tier as MS... MS kids (or GS for that matter) get better exits/looks. Splitting hair here, but imo these are not equivalent platforms for tech banking
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