Thoughts on JPM Tech SF vs Lazard Tech SF
I'm interested in hearing about JPM tech SF but I know I won't get as much info unless I'm comparing it to something else on this forum. Have heard mixed things about JPM SF. I have noticed that they seem to be around 3rd in terms of balance sheet banks, which used to not be the case 5 or so years ago. Do they still have the growth momentum upwards?
How do exits look like? I have seen some random profiles in the past on linkedin but it seems scattered.
In terms of deal flow and deal experience, JPM SF > Lazard SF. Lazard SF just isn’t that strong from a deal flow perspective besides a few high profile deals from retainer clients here and there.
Both exit very well, perhaps a bit better on a per capita basis for Lazard. MF buyout is doable and UMM is pretty common from both, so it comes down to candidate.
Can’t speak for Lazard SF culture, but JPM SF is definitely grindy, very much a hardo culture. It’s not a bad culture, and people are still decent, but just be prepared to work.
Thanks for the insight.
Lazard SF Tech > JPM SF Tech definitely for exits, culture and pay.
There have been multiple megafund exits in the past couple of years (Silver Lake, Thoma Bravo etc…). Past analysts have also gone to many top growth equity firms and VC firms.
I've heard analysts at Lazard SF Tech don't really work past 11 PM, have most weekends off, and have work from home Mondays and Fridays. They also have 1 month to work from home anywhere in the world.
People are right about Lazard doing deals for retainer companies. Big deals that Lazard SF Tech has done in the past few years have been many for Google and IBM including IBM acquisition of Redhat (34B), Google acquisition of Mandiant and Fitbit etc…
It is interesting to see people say JPM SF Tech is better, but most people who work in SF Tech Banking all would say Lazard SF Tech > JPM. JPM SF Tech’s hours are quite rough apparently. While deal flow at JPM SF Tech probably is higher, everything else Lazard SF Tech > JPM SF Tech
Source: close friend works in SF tech banking
The other guy was making a comparison on JPM M&A team in SF rather than the tech team. Yeah, it seems to case that Lazard tech exits better than JPM tech. However, all aforementioned groups sound wonderful regardless!
Deal Flow: JPM SF > Lazard SF
Exit: Lazard SF > JPM SF
This guy knows
Feels like you could go either way. JPM has brand name out of banking, marginally worse exits, better deal flow. Lazard has better pay, slightly better exits, worse deal flow.
Lazard Tech SF >> JPM Tech SF
JPM Tech M&A >>>> Lazard Tech SF
JPM Tech SF splits their groups into coverage and product groups.
At Lazard you will be doing a decent amount of consultingesque work for retainer companies, most of them being Bluechip. Last time I heard they also have interesting verticals like gaming within the tech group.
JPM Tech is a notch below its counterparts. MS is historically below JPM in everything except M&A, but all the ECM works go to GS TMT and MS Menlo out here. Majority of headline M&A is monopolized by Qatalyst.
I would rank it as
JPM Tech M&A SF >>>> Lazard Tech SF > JPM Tech SF
Woah didn't know that, thanks. I guess that can explain a wider distribution of PE related exits.
Close to multiple groups listed here - accurate.
Yep - familiar with all the groups aforementioned. This is extremely accurate.
Yeap if you can manage to land JPM M&A I would take that. Very very lean like most SF BBs, but even leaner. We are talking like 2-3 interns. Not sure how many they take for FT but an analyst said 2 interns the last time I talked to him (~2 years ago). So top BB name value + boutique environment paired with the ability to only focus on executing M&A transactions will prepare you very well for any Tech buyside shops.
Thought JP M&A was in NY?
Most BBs have multiple locations for the same group. M&A has offices in both SF and NYC.
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