Piper Jaffray NYC vs Chicago vs Minneapolis vs SF
I have an internship offer and have the choice of 2 or 3 of these locations. I wanted to get some info on the strength of their various offices since it's not cut-and-dry because their HQ is in Minneapolis. Is SF worth considering if I'm interested in Tech or is it considered lower caliber than their other offices? Also, possible negatives for MPLS is the brutal winters and I probably won't know anyone else in the entire state.
Comes down to group preference. There's some consumer out in SF too. Janica (ran the Rx Bar deal) is out there.
MPLS is the biggest office and has considerable political leverage. NY, HOU and SF are the next largest.
Chicago is a smaller office with about 1/4 DCM, the rest is HC, FIG and Industrials.
Thanks Bullet-Tooth Tony. Can you elaborate on political leverage in MPLS? How important is it actually at the analyst level? Is it worth going to MPLS for it if I would prefer a tier 1 city? I don't actually have much preference for groups but prefer M&A.
No, I'd go SF or NYC, depending on which you prefer. You can get plenty of M&A in either office.
If you don't know anyone in Minneapolis, I'd go w/ SF or NY. Chicago clear last IMO.
All the analysts I worked with who didn't know anyone in Minneapolis said it's pretty hard to meet people, and I can see why. Most people there are either grew up there or went to school there, instead of it being a city full of transplants like NY or SF.
I would go SF over NY, but that's just me. Consumer is really strong there and lower chance of getting cap markets. Although if you really want to be in NY over SF, I'd pick NY - not worth being in a city you don't like that much.
Alumni connections are basically irrelevant, FYI.
That said, I personally loved Minneapolis (although I knew a lot of people there). Yeah, winters suck, but people are really nice there, it's super cheap when you get paid the same as in all the other offices, being at HQ is nice (not a gamechanger necessarily, but is a perk), and during the summer time it is pretty amazing and there's a lot you can do outdoors, especially on the lakes - no need to schlep all the way to Tahoe or go to the Hamptons.
New York is some biopharma but mainly HC services fyi
Can you elaborate on why Chicago is clear last? I talked to a few people there and they talked about how they are growing the Chicago group these last few years. They also mentioned more work-life balance than NY and lower COL.
It's mostly DCM / Restructuring. Just look at the team page (http://www.piperjaffray.com/2col.aspx?id=2282) and go check out which groups all the Chicago bankers sit.
When I was at Piper, there were no juniors in Industrials in Chicago (that may have changed though). I think there are a couple of HC juniors there, but then otherwise FIG is other industry group you'll have to choose from.
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Sent PM
Good friend of mine recently left Piper's HQ in Minneapolis after his two years to go be an Associate in NYC... Lmk if you have any questions about MPLS office and I can forward to him.
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