does anyone have any insights into this group? i have a first round with them on zoom later this week for SA 2027 investment banking. i know they have strong deal flow, but is it mainly deal flow from MM startups from MIT/Harvard?
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Based on the most helpful WSO content, Raymond James' Tech & Services (T&S) group in Boston is highly regarded, particularly for its strong deal flow and competitive compensation. The Boston office has its roots in Lane Berry, a well-known tech boutique acquired by RJ in 2010, which has since formed the backbone of their tech group. This history has helped establish the group as a leader in the middle-market tech space.
Key Insights:
Deal Flow: The T&S group is known for its robust deal flow, which includes a mix of middle-market transactions. While the group likely benefits from proximity to MIT and Harvard, the deal flow isn't exclusively tied to startups from these institutions. Instead, it spans a broader range of tech and services companies, making it a strong player in the middle-market tech ecosystem.
Exits: The group has a solid track record of exits, with analysts often moving on to reputable growth equity, middle-market private equity, and even some megafunds (e.g., KKR, Carlyle, Warburg). This makes it an attractive option for those looking to build a strong foundation in investment banking.
Compensation: T&S is reportedly the highest-paying group at RJ, with a compensation structure that is competitive even compared to some elite boutiques (EBs). This is a reflection of the firm's strategy to attract and retain top talent.
Culture: While specific details about the culture in the Boston office aren't highlighted, RJ's broader strategy of offering lucrative contracts to rainmakers and MDs suggests a performance-driven environment.
Tips for Your Interview:
Good luck with your first-round interview! If you need help with technical prep or behavioral questions, feel free to ask.
Sources: Best groups at Raymond James ?, Jefferies 2022 Outlook, Houlihan Lokey reputation (2020), 2019 Deal Flow - Group Sentiment
Hey. Anyone know about super day questions at ray jay Boston?
Former RJ analyst here. Deal flow is extremely strong and not limited to just startups in the Boston area…. there are MM companies spread out across the U.S.
You’ll get a great experience as far as deal reps go. But it is an absolute sweatshop. The expectation in the group is a solo analyst staffing model (despite complaints to the staffer across all levels in the group). Analysts are expected to be solo staffed on 3+ live deals, a pitch and sector coverage work at the same time. Working until 2-3 am every night for 6 months straight is not uncommon. When analysts do reach the point of flagging they are st capacity to the staffer, her response is always “you must be having efficiency issues”.
Culturally, the juniors are extremely tight knit. Very much a work hard play hard culture. The seniors on the other hand are not so great. Generally they are all very rude, extremely demanding and think of the juniors as bodies to churn and burn instead of caring about their long term development (or even caring about them on some form of a human level).
Lastly, the group is extremely political. Way moreso than other companies I have worked at. The staffer runs everything in the group and has weaseled her way to acting as the staffer, HR, head of biz dev, event planning, recruiting, and generally everything operational. I have seen first hand what happens when analysts get on her bad side and it is not pretty. She will ruthlessly staff you up to your head until you quit.
All this being said, you will get a great deal experience and good exit oops. This will come at the expense of working until 2-3 am every single night and being treated like sh*t from the seniors.
Can I pm you
An insights into 1r?
Don’t think so yet
Current RJ T&S analyst here and reading this at 3am (standard time for RJ). lowkey chuckling about the group politics.
Could you dm?
What are exits?
Mostly growth equity, but some people manage to go to 10B+ tech focused buyout funds
In the past few years: Hg, TA, Summit, Spectrum, ABRY, Marlin, Mainsail, Parthenon, Charlesbank, LLR, Rubicon, JMI, Vista and plenty of small growth shops / boutiques.
The aforementioned staffer and group co-heads will help you recruit and network if you communicate the desire to get into PE and are atleast a mid rating analyst
I’m
RJ T&S hasn’t had a TA exit since 2015.In the recent 5 years, Hg, Great Hill, PSG, WCAS, FTV, Parthenon come to mind.
Has the RayJay Boston tech processes moved forward yet? I haven’t heard anything from them.
Have u heard back? Is it straight to superday or to rd2
Happy to field any comments or DMs on the group and team as a long term member of the T&S team
Our superdays start next week and go for the few following for T&S, not sure on other teams but know Industrials was holding some this week.
I wonder who this is - someone else also in RJ T&s
I have a 1st round next week for ny tech. Do you have advice on how to best prepare? Should I know valuation metrics, KPI’s, etc?
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