Societe Generale TMT

Hi!

Anyone can share any intel on Soc Gen's TMT team? Interested in the usual stuff - deals, exit opps

26 Comments
 

Their NY office loses money lol so you can see the deal flow. Only Lev Fin is even remotely decent for IB and even then it doesn't compare to the MM firms. Your best exit opps will come if you plan to move to France. In the US the bank has no name.

 

They don't have any deals or exit ops that I know of. This makes sense as there are no French tech/media company conglomerates with easy cross border sell side opportunities like a japanese or german shop would have.

I don't even know what space they live in in the US. Like, I see allocations to a lot of F500 TMT names but Socgen is never tier 1, which means they have limited access to management. Unless they are middle market, in which case, I have no idea.

 

Some of the French tech / media conglomerates you are forgetting about:

Vivendi (Universal Music, Dailymotion, Gameloft, Telecom Italia), Altice (Altice USA, SFR, MEO), Orange (France, Spain, Belgium, Poland, Slovakia, Romania), Sage, Dassault Systemes, Atos, Ubisoft?

I'm not defending France btw - I'm not French. I know that their TMT team used to be considered fairly strong in Europe (with a caveat that it was a bit too French) so people left to JPM, Barclays, Citi.

I am however curious what is happening to it now. Would be grateful if someone who is based in Europe could share.

 

No deal flow, below mediocre MDs, endless no sense pitching. Slow progression through the ranks: intern for two years, associate for 6 years, analyst for 5 years, VP for 7 years, director for 10 years is that team's norm.

The pay is peanuts, especially from VP level. junior salary level is in line with market, bonus is ridiculously low.

The VP/associate/analysts in the team are considered "second tier" people in the bank. The execution of TMT deals is done out of Paris. Juniors in this team work on pitches or on not that important execution that Paris team had no capacity to handle.

Overall, very bad place to start a career. Working at a transaction services team of an accounting firm can be better in certain cases for your CV...

Have heard that this year the team lost all junior staff but one analyst (1 vp, 4 associates, 7 analysts quit in less than 12 months). The team is desperately looking for people talking bullshit to the prospective candidates. Several people reached out to me over linkedin to ask about the team and I could not stop laughing on what they have been told about prospects in this team. 

 

Hey, looks like you are an insider and know tons about the team. Do you think moving from an infra team at B4 is a good career decision? I've heard one guy exited to UBS TMT team after a couple of years in that team. The bad thing ofc he moved to the team with a downgrade and had to suck up to some really stupid associates there.

 

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