Strongest TMT teams in London
I'm very interested in working in TMT. Did an internship at GS last summer and did a rotation in the TMT team. Very interesting work but by far the most inefficient and unstructured processes I have ever seen. Maybe I was unlucky with the MDs and VPs on my projects, but when speaking to people it seems that this is a wider problem in the TMT team at GS.
As such, I'm trying to learn which other banks have the strongest TMT teams in London. What do exits to tech-focused PE / growth equity / VC look like from those teams? Are there TMT teams that are more focused towards tech rather than telecom / media?
I guess it depends on what you prefer within TMT and what kind of exposure you want to have.
Other BBs have great TMT teams. On the other hand, you also have boutiques that specialise in specific sectors such as tech (arma partners) or media (Raine).
What do hours / comp / exits look like at tech-focused boutiques like Qatalyst / Arma / GP Bullhound? Aware there is a big difference between the three, but any insights would be highly appreciated.
Comp at Q is insane because of profit share model starting from the associate level. Arma unknown as they were just bought.
GP bullhound is crap
arma is good, pay for A1 is £84 if I remember correctly, hours brutal
What do you mean by inefficient and unstructured processes at GS? Thought their TMT team was top
It is definitely a top notch team. I'm talking about it from an internal perspective. I've worked with MDs who regularly have drafts sitting in their inbox for days and then drop heavy comments and asking for new pages to be drafted just hours before a meeting. This resulted in A LOT of unnecessary stress for the team and obviously exponentially increased the risk of mistakes. Every page would be turned countless of times because the MDs could never decide. Working until 4-5am every day of the week and working full weekends because of inefficiencies like those mentioned above is extremely frustrating. Even heard of one situation where a pitch got cancelled and the team continued to work on it for several days because the MD forgot to tell the team.
This is also seems to be very well-known within GS as everyone I have spoken to outside the TMT team has strongly recommended me against joining the TMT team. When speaking to people from the TMT team, they all seem quite frustrated by the inefficiency and they are all quite miserable.
heard something similar from my friend at GS that the last minute comments are a very real thing
JP has a separate technology team, same MS. Jefferies (they basically only do tech), Qatalyst, Arma Partners
Do you have any insight into culture / hours / dealflow at JPM and MS? I have heard from very many different sources that culture and hours at MS is horrible across basically every team. Haven't heard very much about JPM though.
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