TD Securities/Cowen Trajectory
Hey all, semi-target here received an offer for TD's generalist program for summer 2025. I wanted to hear if TD has optionality of lateraling, exiting to PE/corpdev etc since previous threads didn't really give a clear picture and basically said its a career banking type of offer. Also curious to hear if the Cowen acquisition has helped the IB business grow and if it'll affect exit opportunities in the future when I start FT in 2026. Thanks all.
bump in the same boat right now
I nailed my behavioral and technical questions, got one brain teaser right, and messed up one brain teaser at the end, am I cooked? My interviewer was nice about it, explained it, and cracked a smile at my answer in a friendly way
They are making growth in the US a priority with the Cowen acquisition but TD hasn't historically been much of a player in the US, so its going to take some time. I would assume you could lateral to a bank with better exit ops pretty easily from TD as it is a respected firm and a solid place to start. One thing to note about the career banker thing you mention is that TD does tend to pay pretty well and has a much better culture than a lot of banks on the street so staying long term is more feasible.
I think your best bet for exiting to PE would be lateral to a BB/EB after a year on the job or recruit FT after your internship assuming market conditions improve.
I tried looking for people who lateraled from TD to BBs/EBs and found very few. Did I do the search wrong or is it that the quality of the MM matters for these lateral processes?
You're probably doing it right but gotta account for TD securities + Cowen. It'll be less than say Jefferies or Houlihan but I wouldn't expect the TD brand to stop you from being able to land a lateral role assuming you are a good candidate and networked with your desired firm. Lateral market rn is also completely dead so anybody at TD/Cowen that would be looking to lateral to a more prestigious firm is likely having to wait
I had a bad experience with TD Houston.
Trouble lateraling out?
Working there?
just received a first-round within the next few days, any advice on the interviews and process? thanks
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for generalist NYC? my R1 is on Monday, what was the structure of the recruiting process? cheers
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I nailed my behavioral and technical questions, got one brain teaser right, and messed up one brain teaser at the end, am I cooked? My interviewer was nice about it, explained it, and cracked a smile at my answer in a friendly way
Bump, have a superday with them next week
generalist? or group specific and ny or sf?
Generalist in NYC
Cowen is a disaster. Acquiring it was such a big mistake.
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What SD were you, I've yet to hear back from my 3/26 SD. Congrats btw.
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