Any insights on Macquarie S&T?

gfour's picture
Rank: Senior Baboon | 229

I'm likely to receive an offer at Macquarie for a rotational S&T summer internship. It seemed like a cool firm with a good culture and I'm excited for the opportunity. I was just wondering if anyone could provide me any more info about the firm. What are the best desks to join? How is the firm seen on the street? Will I be able to jump to another bank with relative ease if need be? The analyst class will be tiny (<10) too. Do you think this is a good thing (i.e. less competition for spots) or does it show that they don't have the resources to hire more? At the info session they kept saying that one of the things that works in the benefit of the firm is that they're nimble and can move resources with ease - but to me that sounds like low job security.

Thanks for any insights/advice, much appreciated.

Comments (26)

Nov 1, 2017

Hi gfour, hope I can help. Do any of these links cover what you're looking for:

  • Macquarie Toronto Investment Banking their Toronto office? Also anyone have insights on their Toronto office? I haven't found any info ... on their Toronto office on WSO, mainly NY. ...
  • Macquarie Capital Hello, Could anyone offers some insights into Macquarie Capital, some pros about the company, some ... I know that Macquarie is a MM firm, and is big on restructuring. Tried doing some research, but ... can't really coming up with anything concrete. Any input would be greatly appreciated. Thanks fellow ...
  • Macquarie- Experience with interviews? would be great. Any insight would be helpful. Thanks in advance. ... Does anybody have experience with Macquarie interviews? I had the phone interview today and got ... invited for the in-person session. Also, if you have an idea on comp for analysts with this firm that ...
  • Perella/Moelis/Cowen/Miller Buckfire/Lincoln Int/Peter Soloman/Macquarie Moelis) Moelis (See above) Cowen- Miller Buckfire Lincoln International Peter J. Soloman Macquarie any ... on the street of some of these places? Perella (Obviously the best one of the group along with ... insight? experience? pay? culture? Will give SB's IB FT ...
  • Macquarie Holdings S&T Fixed Income Currencies & Commodities trading, full time analyst. Can anyone give any insight ... on the firm if you've interned or worked there? How do they compare to other BB? trading ... macquarie ...
  • Macquarie vs Stifel IBanking Summer Offers I got two offers for the summer and was hoping to get some insight on which one to take. The first ... is for Macquarie Capital and the second is with Stifel both in their investment banking group. As far ... offer should I take? IBanking macquarie finance stifel Macquarie Capital ...
  • Macquarie Group- NYC Equity Research a recruiter at Macquarie basically looking to hire me. Anyone got any info on these guys? He looked at my ... asked me to email him if I'm interested. Whats the dirt on this firm? I've been reading good ... and bad on them and can't seem to figure out if its worth the time and effort to make the trip ...
  • More suggestions...

No promises, but sometimes if we mention a user, they will share their wisdom: @Glapa @Winston Wolfe @she_monkey

Fingers crossed that one of those helps you.

Nov 8, 2017

Do you have any idea what business line within CGM? Commodities? Fixed income? Equities? Who have you interviewed with?

Nov 8, 2017

New York office, all business lines I guess

Nov 8, 2017

Do you have any idea what business line within CGM? Commodities? Fixed income? Equities? Who have you interviewed with?

Nov 8, 2017

I worked at Macquarie as a Sales Intern for the first two years of my career (in Commodities, based in London, started mid 2000s), and pondered over the same questions as you - without anyone to answer them, I went for it anyway. The best way I can describe my experience was as a 'great school'. It is true, they didn't have the best traders, the best managers, the best customers, the best risk appetite or the best reputation in the market. That said, I can say the following with confidence:

  • The small intake is pretty common across the bank and means you very rapidly get more exposure than your peers at other banks, as well as teaching time from superiors
  • They invest a lot of money in your training (two weeks all expenses in Sydney, at least when I was there) from day one, including solid professional qualifications, and a fairly open remit to sign up to external courses as you see fit - at their expense
  • The culture was excellent. In my ~10 years of working, it was without a doubt the most 'fun' I had at work. Some poisonous characters (these are everywhere...) but mostly realistic, approachable humans who cared about work life balance, health and happiness (honestly)
  • I left after two years to join a BB trading team, have worked for a major commodities trading house in trading for five years now, and have them to thank for the initial education I got, that probably allowed me to see the world we worked in with more open eyes than my colleagues at larger more prestigious firms (who worked worse hours, with more politics, but got more carried away by the banking dream)

In the interests of fairness, I would note the following cons:
- Expect to have to say 'Macquarie, you know, the Australian Bank' when people ask where you work, unless you're actually in Australia
- Pay is a little underwhelming compared to your peers - but honestly, anyone who thinks the disparity will be that big in the first couple of years is wrong, IMO
- Their risk appetite, lending appetite etc means you will probably gain less exposure to some of the whale trades that still go through commodity markets every now and again (ignore if you're not in Commods)

Good luck

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Nov 8, 2017

Great, thanks for the comment.

Nov 8, 2017

bump

Nov 8, 2017

bump

Nov 8, 2017

.

Nov 8, 2017

Yes.

Would be helpful if you actually take some efforts and are a bit more specific.

Nov 8, 2017

To answer the questions both implied and otherwise.

Macquarie does pay $70k to first years and approximately $90k to 2nd years. As described in the following post, //www.wallstreetoasis.com/forums/Macquarie-your-thou... , Mac pays in a range that goes both above and below street and more heavily takes into account group and deal performance.

Mac does not have a normal S&T fucntion in the US. There is a fledgling ECM division, a TCM (treasury and commodities) group, structured finance, a very strong PPG team (how else is it possible to raise all these big funds to buy all the infra assets around), and a few other teams. These functions all pay the same above street salary, but bonus can vary drastically.

Nov 8, 2017

thanks. Do you know any details about the TCM group? Commodities is obviously very hot right now and is something i would want to be involved with. Are the functions of that group similar to the commodities S&T groups at the BBs?

Nov 8, 2017

Mainly a commodities structuring group that takes advantage of its trading and physical asset platforms to add value. The do physically and financially trade a number of commodities, but its not as lucrative.

Nov 8, 2017

What about Macquarie-Cook? Do they compensate similarly as their TCM group?

Nov 8, 2017

Mac's not a BB in NY... but still a great shop.
If you have another offer PM me and we can talk, otherwise I wouldn't stress too hard over this.

Nov 8, 2017

it's not that great. not even in its native aus
but if that's your only offer (not necessarily just you, OP) and you want to do s&t, i'd count myself lucky

Nov 8, 2017

Well, they may not be that great now, but I wouldn't discount them.
Aussy banks have done really well recently and have relied on export financing of steel and iron ore from AUS to CH to fund their operations. Macquarie has gotten bigger recently, and may get bigger still in the future. It may be a great place to be from one of these days.

Nov 8, 2017

I have an S&T offer at another BB, but don't want to be complacent so am doing some research to scope out options.

Nov 8, 2017
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Nov 8, 2017