The Basics of Tech Banking?
Hello WSO, I have a few questions in relation to tech banking:
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What are the top TMT groups in IB?
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What work experience did you have prior to taking on a tech IB role?
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How does an entry-level tech banker differentiate from a traditional IB role? Hours/work/lifestyle, etc.
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What are some of the common exit ops that tech bankers typically take? (personally VC is something I see as an end goal)
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Do you find the work interesting?
Any more information in addition to the questions would be greatly appreciated!
bump
Tech ibanking? (Originally Posted: 02/10/2007)
I hear GS/MS and UBS/CS are the good ones.
Is it more competitive to get hired by these guys for NYC or SF/Bay Area? How many analysts do they take?
Your thoughts are right on the terms of the banks.
All of them are better out on the westcoast than in NYC. NYC has a pool where you have to get placed during training. SF/Menlo Park you can apply directly.
GS/MS are better than CS, CS is better than UBS.
bb.MandA.3rdyear,
Would you happen to know what the bonus for 1st and 2nd year analysts has been for MS - Tech (Menlo Park) and GS(SF) - TMT ?
I know the compensation structure has a base of usually $55,000 / $60,000 plus a variable bonus ?
I heard the bonus varies between 30,000 - 50,000. Is that correct for 1st year analysts ?
MS and GS pay street. your salary is right, your bonus is off.
Market Watch Tech Banking Article
Top U.S. technology dealmakers of 2005 Bank Value of deals Number of deals Goldman Sachs $32.4 billion 29 Morgan Stanley $30.9 billion 22 Citigroup $26.7 billion 23 Deutsche Bank $22.3 billion 15 CSFB $18.7 billion 28 J.P. Morgan Chase $15.5 billion 15 Lehman Brothers $13.7 billion 20 Lazard $12.5 billion 10 Bear Stearns $11.2 billion 13 Stephens Inc. $7 billion 6
Source: Thomson Financial
Would anyone know what the league table for Tech dealmakers looks like for 2006 ? I guess it can be pulled out from bloomberg.
It would be great if some one can post that !
Tech IBD (Originally Posted: 06/21/2017)
Hi. I was looking for some advice with regards to tech banking.
I dont have IBD experience but have knowledge about the industry and was looking to see what the culture is like in TECH IBD.
My knowledge base is mostly around Enterprise Software.
I wanted to know how IBD groups in this space work?
Since the deals are smaller vs large industrial transactions, do bankers here work on more deals? How are the hours like? And are most based in SF?
BUMP...Any views welcome
If possible, could someone hear help to summarize the tech value chain/supply chain? I know its rather vague though.
Yeah, would like to know as well
Tech is mostly SF these days but there are some teams still in NYC.
No different than other coverage groups.
Hours probably worse, more companies to research, include in comps, create buyer profiles for, etc.
My old roommate was TMT NYC but lateraled to SF to cover tech
Tech is mostly SF these days but there are some teams still in NYC.
No different than other coverage groups.
Hours probably worse, more companies to research, include in comps, create buyer profiles for, etc.
What are the best tech ibanks to work for? (Originally Posted: 08/04/2017)
Wondering what the tech ibanks to work for in SF or NYC are for college juniors? Any help appreciated! I heard of some big names but curious what others generally think
take a look at this thread https://www.wallstreetoasis.com/forums/technology-banking-sfwest-coast
Tech ibanking - too focused for PE? (Originally Posted: 08/21/2009)
Aside from the tech groups at GS/MS/CS, generally speaking, is tech a good industry to get into as an analyst? At the BB in question, the tech group is pretty solid in terms of deal flow experience, but I've heard from some friends that tech has less exit ops into PE because of its more specialized focus and the way the companies are looked at. I know there are a few large PE shops like silverlake that focus on tech, but I'm assuming if you're not at GS/MS/CS or another comparably reputable group, it is pretty difficult to get in...so my question is..are there significantly less tech PE shops than others? Am I better off joining a more "standard" industry group (like natural resources or consumer or something like that) that has potentially LESS dealflow / action for the sake of PE recruiting? Will recruiters still consider me for megafund / mm PE shops that don't focus on tech?
Caveat: I am not uninterested in tech persay, but don't have a huge penchant for it either..
You're fine. At the analyst level, being in a tech group does not prohibit you from joining a generalist PE firm or even one with a different industry focus. It will make your life easier if you're interested in joining a tech specific PE firm. Just to give you an example, take a look at the associates at ABRY Partners...
~~~~~~~~~~~ CompBanker
Optimal background for tech banking (Originally Posted: 07/30/2011)
For people ultimately looking to break into TMT banking, how much of an advantage would someone with a finance AND general comp sci/programming background have over someone with a strictly finance background?
Or do you pretty much learn everything you need to know about the sector on the job?
I'm debating whether it would be worth it to take a few comp sci classes to gain some kind of background in tech - even if it meant the gpa possibly taking a hit.
gpa is definitely more important....try getting some relevant tech experience instead.
turns out all comp sci classes can be taken pass/fail. intro to java is the first course in the sequence. is java worth knowing?
I would think that relevant experience on a resume would be of equal or greater value than passing some comp sci classes. Intern at Apple or something
"optimal background" for tech banking is the same as it is for any other banking - some decent general intern experience, high GPA, high SAT
group selection happens after you get hired anyway and its based more on networking/fit than if you took a java class or had some "relevant" internship
If you do a technical minor/major, the only place it helps is in interviews -- you could really lobby how interested you are in the space and point to your coursework as proof of your interest. But as far as the work goes, it's just about the businesses' fundamentals.
Stick with boosting your GPA as high as you can or go with Turtles' advice on getting experience at a top-notch tech company.
I work in tech banking and it really doesn't matter if you have a technical background or not, other than demonstrating your interest in the space during an interview / networking. Network with professionals / alumni at these banks and if you have a solkid gpa, go to a solid school, you should be able to land an interview.
Listen to the rising sophomore with the certified user star ...
Yeah, working at a bank doesn't mean certified. But whatever
I work in a Tech M&A group at the moment and can say the CS majors I've met have been among the most competent people here, not because they know the industry better, but because knowing how a computer actually functions will make you a lot more fucking efficient when you're stuck in front of one for 90 hours a week. CS just happens to lend itself well to shaping logical and process oriented individuals; a solid handle on those qualities will help a person succeed at pretty much anything they choose, not just banking
Regarding actual application of "Tech knowledge": In general, you'll never need to know how an application software was created, you just need to know how it works, how it makes money, and how to convince someone it could make even more money (with your help & at the right price).
Besides, there will be people in your group that have never coded a day in their life and just studied Econ, but have spent every day of the last 2 years reading TechMeme/TechCrunch/VentureBeat/etc and will know more about the space than every programmer in the group anyway.
"Besides, there will be people in your group that have never coded a day in their life and just studied Econ, but have spent every day of the last 2 years reading TechMeme/TechCrunch/VentureBeat/etc and will know more about the space than every programmer in the group anyway."
The CS who contents himself with being a nerd is not even in the same labor market as the tech financier.
You won't really use skills like Java in Investment Banking, so adding a minor/major is something you should do because you're interested in it (not to gain banking-relevant skills). If you're the type that took on an engineering/CS major or something, it is noticed and helps to convey your interest in that space.
Other than that, tech relevant roles help for sure (like if you interned at Facebook or something).
At the end of the day, though, networking hard with the TMT-tech groups is probably the biggest thing you can do.
Breaking into tech banking? (Originally Posted: 06/15/2012)
Hey guys
I tried looking all over the place to break into tech banking but couldn't find it on the WSO threads. My passion for technology began before my passion for finance began and up until very recently I have heard about people talking about Tech banking and all I have seen or heard so far are two things: San Francisco is the best place to do tech banking and GS TMT is the best tech banking division (maybe even the best GS division?) but I couldn't find anything on the "Getting there" part.
I was wondering what does it take/what are the steps in tech banking and ultimately what do tech bankers do? Any help would be greatly appreciated
Thanks
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