Piper Sandler Minneapolis HCIT Group
I noticed a couple of negative comments on random posts about Piper Sandler's HCIT group in Minneapolis. If you are familiar with this group, could you elaborate on why it's a good/bad group in your opinion?
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This is great, thanks. This is the first positive comment about this group, as I read at least 4 or 5 negative comments about it. One even said that this group is the worst group on the street (Piper Sandler 2023 FT Thread). Any chance we could connect so that I can learn more?
I'll PM you
Good reputation in deal quality, good flow, good comp, but tough culture, hours.
Used to be a face time group - do monotonous work just for the sake of doing work at 2am.
NuclearPenguins may have other thoughts, though could be dated as well b/c he left a while back.
Yep this is how I would've characterized the HCIT team - great deal flow across a variety of transactions, and a group that you'll learn a lot in, but with a lot of facetime and tough work life balance. There is 0 chance I would've described the group's culture as "truly unrivaled by any group I saw" as Associate 2 described above, unless that was in a negative fashion. Sidenote they were always one of the most "formal" groups when it came to dress code when I was there, which I know on its own doesn't mean anything but I do think it was indicative of them not being as relaxed culture wise.
That said, this was 5+ years ago and looking at some of the people that have been promoted and are now on the team page, I can see a world where culture has improved since some of them were good guys. The one guy who most resembles Orrin Bach from Billions was a huge a-hole back in the day though.
I personally know 3 analysts that have exited the group in the past year. Basically, they all said they were consistently working until 3-4am, absolutely no remote work allowed so had to be in office for that. Senior bankers were reported to have mistreated these individuals, which probably comes in the form of yelling, discrediting, etc. I have not heard a positive thing about this group. It is also very pitch heavy relative to others at Piper (allegedly). Keep in mind, this is the testimony of 3 analysts that have left. I have not heard from anyone who is still there and would appreciate their opinion.
Where did they exit to?
Other MM shops mostly
Agreed with this comment here.
Recent update: One Associate just got fired and not sure how they got hired at the first place. One analyst got fired and I am not sure how they got the job at the first place. One associate quit after joining 3 months because of the WLB situation and the team culture.
For those who thought this is a great group, I am sure they got their own perspectives or they could buff up the group to get more people to join or whatnot.
For the past three years, I have seen them send one deal announcement internally. In terms of senior bankers yelling at analysts, yes - that was true since I heard it from the kitchen and the analyst friend told me about it.
What do you mean by you don't know how these two people got their jobs? Did they seem unqualified?
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