Semi Target Sophomore evaluating middle market opportunities; unsure if want to exit to buyside or stay in banking but indifferent to both. Have an interest in tech / healthcare / communications. Wondering how TD Cowen NYC, Harris Williams Minneapolis, and PS's Minneapolis HCIT groups all compare.
Thanks!
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Cowen has more capital markets work, HW is consumer only out of Minny and PS HCIT is one of the hardest working groups in the world (lots of 100+ hour weeks). All have good deal flow, but HW and PS will have stronger M&A opportunities.
TD side has been on pretty good M&As this year though? up 30% in M&A revenue in US market
do you want to ball in nyc at a growing platform or process sweet corn after work?
This, the banking years are some of the best in the world. No responsibilities, flush with cash, $1,500 bottles of Spade at the 432 Park Ave Restaurant every night, flying our choppers to Atlantic city just to loose $50K on Blackjack then flying back to the office in the morning to collect a few stock tips and make it back.
Cowen Tech clears any of the other firms/groups except for maaaybe PS HCIT/MedTech (MN office). It's also a huge advantage to be in NYC when it comes to lateral opportunities, networking, really every professional aspect of NYC >>> Minneapolis.
From a lifestyle perspective I'd really avoid PS HC, they are much too sweaty to be a career banker there (consistent 100hr weeks, almost all in-person), don't pay NYC street, and the exits are very very mid especially relative to the amount of work you're doing.
Cowen tech is extremely well-respected and actively growing without any of these drawbacks, they get big deals and they get a lot of them. I'd say they play in-between the WB Tech (also a great group, lots of deals, avg deal just a bit smaller than Cowen) and Qatalyst/JPM tier of tech groups.
It that new re: Piper HCIT? Used to pay the same regardless of office, like many MMs
Actually you may be right re: HC specifically. i know they don’t pay nyc street in some of their newer satellite offices like in Michigan, etc
10000000000000000000000% TD COWEN ————— THIS IS NOT CLOSE
Piper Medtech is ghoated if you don't mind living in Minny - you will get excellent exposure with blue chip clients. Cannot vouch more for that group. Head of Piper HC sits there too
Lots of fees left on the table these days at Piper... I mean hundreds of millions vanished over the last few months
Piper is a mess
Cowen healthcare is very good. Cowen tech is extremely respected and has great growth exits and good m&a / ipo work. None of these firms have insane exits for PE (MM still possible tho) have seen a ton of Cowen tech laterals to other banks if interested in PE. Lateraling is much easier if you’re in NYC and generally exits r better too
All are materially robust options with substantial upside - leveraging their national scale and "boots-on-the-ground" local focus to provide synergetic value to stakeholders with both pecuniary and social interests in the organizations. Ultimately, I would probably take your mom's pussy.
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