Blackstone M&A Advisory NY
Wondering what the interview process is like for FT Recruiting? (Very technical? Very fit?)
And also, how big is the M&A Advisory group in NY? What is the culture/hours like?
Tried doing a search, but couldn't find much.
Thanks in advance.
Over the course of my networking efforts, I also got to know a few Blackstone M&A guys (mostly senior). They always described the life style this way: "If you come work here, you better be prepared to put in the hours, but this is just like anything else if you want to achieve something."
In addition though, I asked about exit opps several times as well, since it is an obvious question given the BX is better known for its PE arm and surprisingly they said that it was clear to them that people would rather work on the buyside and that they actively help to prepare you for that over the course of your analyst stint. If you look at where people from BX M&A get interviews, you realize that they have a darn good placement, ranging from Megafund PEs all the way to "prestigious" (using this carefully) HFs.
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The culture/hours are unbelievable--almost too good to be true. Nobody cares about facetime and even interns felt comfortable leaving at 9-10pm if they finished their work (pretty much unheard of at a BB). On the other hand, it is one of the most prestigious groups on the street and everyone there had gotten top BB offers. Deal teams are very lean and people do work hard when necessary, but generally hours are less than BB and you will have plenty of weekends off.
Pay is consistently above street/BB's. No bucketing since the FT analyst class is only like 10 people.
Matrick is right that it is a 2 year program. The senior people recognize this and will actually go out of their way to help you land a top PE/HF job, making calls/recs and such. FT analysts have no trouble getting interviews at any megafund they want. During PE recruiting, you will basically be given time to prepare/interview and people fully expect you to be doing just that. No under the table BS or fake "doctor's appointments." People have gone to Carlyle, KKR, Apollo, BX PE, etc.
Thanks for the comments, guys.
Any insight on what the interview process for FT recruiting is like? And do they plan on expanding their analyst class at all?
bump!
Depends on how many SAs take their offers. Historically this number has been very high, which speaks to the strong culture/reputation of the group, but it's also not good news for people applying FT
The superday can be very technical. You should really know your stuff. I've never gotten harder technical questions in any other banking (or PE) interview process.
In hindsight, what do you think would have been a good study material?
Is there anyone on this forum who actually received an offer fro BX M&A for SA or FT?
Bump- if anyone can offer further insight regarding the interview process with BX M&A that would be really great. Have a super day coming up next week.
I thought their superday was on Feb 8th. They have multiple superdays??
Also interested in more interview insights. Are we talking M&I Advanced technical, or beyond that?
Any further insights on BX and study material?
Any further insights on BX and study material?
Any further insights on BX and study material?
NYC Blackstone IB Associate Class (Originally Posted: 01/06/2015)
How many IB interns / FT associates does Blackstone take on each year? What schools make up most of the class?
Thanks
bump
About 8-10 total with most doing restructuring. Who knows though given spin out to PJT Partners
Blackstone M&A Advisory - Associate (Originally Posted: 01/28/2012)
Would like to hear people's thoughts on being an Associate at Blackstone's M&A advisory group in NY.
I am aware the analyst position in this group is highly sought after, but I have never worked in the states (am in b-school) so am a bit ignorant as to how much of this applies to associates.
Does Blackstone M&A Do Any Deals? (Originally Posted: 08/02/2012)
Either that or they don't update their website.
change name to BlackstoneOrBust and I might throw some info
Short answer: No, those guys are scrubs. They're not really a force in the market. Mostly they just sit around looking pretty. Steve... who?
Longer answer: Yes, they do deals.
have heard their deal flow isn't as great as you'd think
Anybody see Apollo's Q2 earnings? sheesh.
http://dealbook.nytimes.com/2012/08/02/apollos-2nd-quarter-profit-falls…
eh kind of? not really though. if youre an MBA, dont go to the M&A practice if youre an analyst, go there and don't look back; they consistently have 100% placement to top funds.
Disagree with GiantsFan. Yes, you won't often find BX M&A on blockbuster deals, but the senior guys do typically get paid above street--so going in as an associate is not a bad decision at all, especially when you account for lifestyle.
Agree 100% on the analyst point. I don't think they're as good as BX Restructuring, GS FIG/TMT, or MS M&A, but they're basically on par. Consistently fantastic placement into top hedge funds and PE firms. Fantastic lifestyle, too. Analysts leave at 9-10 pm all the time. A 12 hour work day for above street pay is not bad at all...
completely agree with FernandoTorres9 on all points. For associates, I was just speaking from a deal perspective; I think an associate who is ultimately looking to build a personal franchise would get a better experience at a top BB or other elite boutique. That said, BX definitely treats you well from a compensation perspective, no denying that.
How do you think about lack of deal experience playing a factor when transitioning to PE? All my friends at mega funds say it's much more difficult than banking, so if you don't get deal experience, wouldn't that hurt you from a development stand point?
The transaction list on the Blackstone Advisory Partners website is extremely outdated. I know for a fact that they've closed close to a dozen deals worldwide over the past six months and have plenty in the pipeline. More importantly, their revenue per banker is still among the best in the industry.
Their Menlo M&A group is pretty much total shit. But as others have mentioned, the hours rock and the pay is great. So if you're down to sit around doing nothing for two years collecting $130k+ and then exiting to a decent fund, it's a good gig. (Though those guys don't seem to get the absolute best exit opps, and I would guess that deal experience is at least partially a factor.)
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