BAML Healthcare in SF

sonnypatel's picture
Rank: Monkey | 58

What is the reputation of Baml's SF team?

What are the disadvantages and advantages of taking an SF full time offer over a NYC offer in IB? There are like 8 people in Baml's SF healthcare office versus like 60 in their NYC office.

Any idea what the hours are like for the healthcare group in either office?

Comments (44)

Jan 20, 2017

As far as culture goes, it's a sweatshop

    • 1
Jan 20, 2017

specifically within HC? Cuz I've heard conflicting opinions

Jan 20, 2017

They do more life sciences / bio tech work and more IPOs and deep dives into companies / drugs. Recently had some people leave.

    • 1
Jan 20, 2017

any info on the culture? thanks!

Jan 20, 2017

That was the best h-care group on the Street a few years ago. Don't know about now, though.

"Respect others in their view, and demand that they respect yours. Love your life, perfect your life, beautify all things in your life."

Jan 20, 2017
craigje1992:

That was the best h-care group on the Street a few years ago. Don't know about now, though.

Says who?

Jan 20, 2017

I've met a few MDs and analysts in the group. Very good and one of the better coverage groups at BAML. Deal flow seems strong which leads to fairly bad hours.

Jan 20, 2017

bump.. opinions?

Jan 20, 2017

My info is a bit stale, but they lost a bunch of the team to Leerink Swann a few years (~2-3) back. I don't know if they have rebuilt or not.

Jan 20, 2017

hm okay thanks for the insight. any other info would be appreciated.

Jan 20, 2017

Anyone?

Jan 20, 2017

Pretty brutal group in terms of prestige. Exit opps can be tough. Sometimes NY tosses them a part of a good deal tho -- sometimes.

Jan 20, 2017

Vast majority of the work is done in NYC. The NY group is one of the top on Wall St, but the San Francisco group is pretty slow and a lot lighter on exit opps. Hours are probably lighter than NY too, though.
Co-group head in San Fran is pretty well respected, though, so you could learn a lot from him.

Jan 20, 2017

Thanks. So it seems like the SF group is a bit of a sidekick of the NY group...

wrt exit options, when you say it can be tough are you talking about some specific exit options? My aim in the long term is to work in a fund investing in the healthcare space. Open to both VC or PE, though the former would be better. I am not aspring for the Kleiner's or the Pincus's. Looking more at shops like Panorama Capital, Frazier Healthcare, etc. Also, would prefer to be in the West Coast.

I have been trying to break into these jobs currently, but am finidng a lack of IB on my resume to be a deterrent. Hence the thought of combining my MC experience in the healthcare space with a year or two IB healthcare. Does this plan make sense or do you think a stint in ML West Coast won't really get me where I want to be?

Also, when you say lighter than NYC hours what range are we talking? Just trying to benchmark it with my hours in MC.

Jan 20, 2017

Regarding hours, I'd say an Associate is going to average around 90 in the NYC HC group (though of course the range would be something like 70-120+). In SF, hours are probably closer to 75 or 80 with a range of 60-100 - you'll have to be having a shit-show of a week to get over 100. As far as exit opps go, so much of that is based on more than just your group and bank, it's hard to say. But, very generally, the NYC HC people do so many more deals that they have much better contacts, and better relationships with the senior HC bankers who know everyone in the sector, and are able to help people get jobs. That said, if you want to be in VC, the SF group might be the way to go since that's where most VC money is, and those senior bankers might know a lot of VC people.
This is all very general info, obviously things like hours and exit opps are going to vary widely from situation to situation.

Jan 20, 2017

If you're at a top MC firm and are interested in landing a VC PE job, I would forgo IB route. Don't live for your resume.

Jan 20, 2017

informational interview

Jan 20, 2017

sorry, i'm not really sure what that means...

the only thing i know about ML is that their LA office is supposed to be pretty hectic, but i suppose that could be a rumor. anyone else out there have an opinion? if so, i'd be very grateful...

Jan 20, 2017

I believe that healthcare is IBK-PA not IBK-SF.

It's a good group.

Jan 20, 2017
GhengisKhan:

I believe that healthcare is IBK-PA not IBK-SF.

It's a good group.

Wrong, they're in SF.

Jan 20, 2017

They are in palo alto.

Jan 20, 2017

Nope, all the ML Health Care ppl moved to SF, I was in the ML PA office recently, and there are alot of empty offices from the HC ppl moving up north

Porsche576:

They are in palo alto.

Jan 20, 2017

and they are not a good tech bank. Not top 5. Outside of NY, Merrill is relatively weak.

Jan 20, 2017

3am+ is the norm according to a guy I know who works there

Jan 20, 2017

Good to know they hadn't sneaked out while I wasn't looking. In this business, you never know.

Jan 20, 2017

Hours are not that bad (for banking at least), pretty laid back culture. Having weekends off is not uncommon. Probably 70 hr workweeks on average. It is in SF.

Jan 20, 2017
corgi95:

Hours are not that bad (for banking at least), pretty laid back culture. Having weekends off is not uncommon. Probably 70 hr workweeks on average. It is in SF.

True.

Jan 20, 2017

ML Healthcare is better than ML Tech any day of the week.

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Jan 20, 2017

unless you want to work with University of Hawaii alum.

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Jan 20, 2017
bb.MandA.3rdyear:

unless you want to work with University of Hawaii alum.

man, i know who you're talking about exactly. he's fucking weird too. i guess the tech group liked him.

Jan 20, 2017

Hours are not that bad (for banking at least), pretty laid back culture. Having weekends off is not uncommon. Probably 70 hr workweeks on average. It is in SF.

corgi95,

are you speaking from personal experience or is that just what you've heard? thank you for your response.

Jan 20, 2017

bump

Jan 20, 2017

bump

Jan 20, 2017

would be interested in hearing more about this group as well

Jan 20, 2017

UBS has the top healthcare group. Media and Telecom are best at CS and Lehman. ML is very good in Power and Energy.

Jan 20, 2017
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Jan 20, 2017