I didn't see a forum for this so I figured I would start one.
Anyone apply to this firm or know what's going on regarding their 2021 SA timeline? Also, if anyone has any updated information on the firm in general - culture, deal flow, exit opps - that would be greatly appreciated!
Thanks in advance and good luck homies!
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Hi Sleemix Roger, no, I never sleep and so I can respond to any lonely threads (like this one) at all hours of the night. Impressive, I know ;-)
Fingers crossed that one of those helps you.
following
current summer associate at MTS. happy to answer any questions in a pm.
culture is awesome, everyone seems to really like each other and does things outside of work on a regular basis (pre covid and still). three divisions - services, life sciences, and royalties. people are making an effort to make the remote internship feel personal and everyone is enjoying it. regular engagement activities too
deal flow is super solid. all Interns are on live deals, including summer analysts. life sciences is always active and is popping off right now.
know that working here is only healthcare, so you have to be ok with that before starting. pay is street. exit ops are more untraditional from my understanding because it’s only healthcare. great reputation within healthcare industry so you can lateral to any role within healthcare. heard of people going to business development roles at biotech companies, healthcare PE and hedge funds, and top banks. only thing to note that they are largely restricted to healthcare so make sure you want to do it before starting
Do you mind PMing me
Could you PM me as well - I don't have any left
I don’t have any PMs left either haha. can just answer questions here
Hey, i’m curious to know who MTS competes with to win deals. Are there other similar healthcare specialized boutiques? Or are you guys competing with bb/eb healthcare teams?
I just want to get a better understanding of the firm’s reputation- I think this is a good proxy for that. Thanks!
There are a few healthcare boutiques, but MTS does not really compete with them. MTS has a very strong reputation within the healthcare industry. What’s cool about MTS is that they are very relationship focused, so will do virtually any deal no matter the size. This has helped them land some $3.0 bn+ deals with companies that started off doing $10 million deals (check their website, you will see they do deals of all sizes). I’ll tell you what they told us on our first day - there will always be companies that automatically work with Goldman because they want to work with Goldman (they make up their minds before even considering other options), and no boutique can compete with that. However, if you could see the deals being worked on you’d see how first in class it really is
Competition is BB/EB healthcare groups, but MTS is very science focused and employs many PhDs. People at MTS talk the talk because it’s what they have studied for years, and this helps win a lot of deals. That’s not to say everyone has a healthcare background by any means but by the time you are one year in you will understand a lot more about the healthcare industry than the other EB and BB groups do .
MTS is truly an EB, it just does not have the same overall reputation because of its exclusive focus
what is the winter internship program like? what is the aim of it? Just additional pipelines for fulltime hires? sorry if these are dumb questions but just curious
No dumb questions!! Last year 1 of the 3 winters got full time offers. However, MTS does not do the x spots for x-2 offers kind of thing. Once you get an offer it’s yours to lose.
I believe it’s more of an MBA kind of thing but could be wrong. Will find out more and get back to you
Do you mind PMing when you have a chance? Thank you!
Don’t have any more PMS. Can answer here
Thanks for going so in-depth with all your answers!
Do you have any recommendations for prepping for the healthcare aspect of interviews with MTS? How elaborate do they expect your knowledge to be about the industry?
The interview details on the WSO company page of the website were pretty spot on. I would know the typical stuff - such as the classic depreciation question, how the statements are linked, FCF, and how to calculate EBITDA and calculating enterprise value. In terms of the healthcare questions, look into POS (probability of success), peak sales and the impact this has on a model (ie - XYZ equity research forecasts $100 mm in peak sales. They also predict a 50% POS, so we would model $50 mm. I would also look into some recent MTS deals and genera healthcare deals. Also have a solid answer for why healthcare, because that will he asked at every stage.... i would say 50% of my interview was behavioral (culture fit). MTS has a great culture but not everyone is a fit. Show you have a work hard and play hard kind of attitude. Hope this helps
is the firm still hiring?
how would compare to leerink?
Very interested in MTS. Can we connect? Thanks!
Heard that the work load is crushing, including tons of weekend work and a lot of folks have left
MTS is like if Cain Bros had a baby with Cowen and made a niche middle market pharma / services HC bank. Some of the senior ppl + advisors have good connections. My general read of their deals are more NFP / sub scale businesses where BB/EB don’t spend time on. Don’t pull up some one offs - they have some senior advisors like Ditkoff with lot of connections
Feel like this isn't true at all. All of Cowen's HC fees from ECM, very little M&A at all. I've heard they run a pretty shity M&A process from folks at other MM banks.
....
anyone heard back for nyc yet?
Recruiter told me prob week of 31st
anyone know email format? Thanks!
Their emails are literally on the website ...
Is HR pretty hit or miss for anyone else?
Anyone know if recruiting for their Winter Analyst position wrapped up already?
Would assume it has not even started. Was in touch with folks there last October, and they had mentioned that at that point they had just wrapped up. Of course timelines vary.
any first rounds?
Anyone heard back for SA 2021 yet?
yeah
you have a first round interview?
Got first rounds at a Target next week!
Congrats! when did you hear?
2 days ago. Didn't network but have a bit of HC on my resume so I think I passed the basic screen.
anyone know when super invites are supposed to go out?
non target, had first round today and heard back about superday about an hour after
Good shit dude. How was your 1st round ?
bump
Anyone get a 1st rd this week?
Just had first round
anyone else get super invites?
anyone hear back after Superday last week?
when was SD? i had first round on friday.
there was a round of superdays last Friday
i had my superday on thurs, I got waitlisted but was told that offers have gone out
they said they already sent out all internship offers? damn.
when did you hear back?
BUMP
Any word on the winter analyst program?
Compare to leerink and cowen?
I know Cowen is an IPO factory if that's what you like. MTS far more strategic advisory type stuff and much more M&A
Having superday this week. So all offers probably haven't gone out
how was the first round interview? how much focus on biotech technicals
not too much. just like biotech dcf and how to value a pre-revneue biotech company
Have all offers been sent out?
No, there are still a handful of spots to be filled from those turning down offers. I believe MTS will be reaching out to top candidates in the waiting list first and working their way down.
Thanks for the prompt reply. Should I be expected to hear in the next week?
I believe waiting list interview offers have already gone out, but of course it could go into next week if headcount is lower than expected
Thanks!
Just got the official rejection from doing the waitlist interviews :(
Never heard back after my superday a month ago, do you think I should follow up? I image the HR lady is working very hard to get back to me.
I have heard they wrapped up all their 2021 SA recruiting and the class is full so if you haven't heard back yet I would definitely reach out to HR first thing tomorrow morning
Anyone hear back from SA 2022 super day recently?
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