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  • Analyst 2 in IB - Ind
Jan 10, 2021 - 7:07pm

This is first-hand. I spent 1.5 years working on the same floor as them. 

  • Intern in IB - Ind
Jan 9, 2021 - 11:27pm

Tech out of SF is very sweaty. Staffers placing analysts on more deals simply because they think they're getting too much sleep. Absolutely horrible.

  • Intern in PE - LBOs
Jan 10, 2021 - 1:46am

Any other info you can provide on sf tech? Dealflow, exits, more color on culture, etc. 

  • Analyst 2 in IB - Ind
Jan 10, 2021 - 7:39pm

Semiconductors - Citi has a balance sheet, so it gets mandates, just not that many M&A mandates. Sweaty because they try too hard to win M&A mandates

Software - Probably the most technically savvy people in SF, but they are particularly political vertical and don't win lead/active roles frequently (pretty bake-off decks tho)

Internet - Positive trajectory since poaching senior talent from GS and Barclays, but these people are impossibly demanding. Mid-layer isn't efficient

Overall - Mid-level seems to do a poor job of protecting juniors from seniors, but on the "bright side", there's a lot more deal flow than a couple of years ago

Exits? JMI Equity, Vector, FTV, but most frequently better banks and going into tech

  • Analyst 1 in IB - Ind
Jan 10, 2021 - 3:04am

I actually heard that SF tech isn't as sweaty as you are describing. Sounds pretty typical of BB experience. Source - know someone that works there. Where is your info from

  • Analyst 1 in IB - Ind
Jan 10, 2021 - 4:47pm

The fuck lmao this is 100% not true. What is true is that deal flow in the tech office has picked up significantly (I'm sure the same can be said across a lot of tech groups) and they are understaffed, so there tends to be a lot of work going around, which the staffers and upper management are very cognizant of. You can look to see that they are hiring both experienced analysts and associates to try to fill the gap.

Source: I work in a product group at Citi and work with the tech team frequently. 

  • Associate 1 in IB - Gen
Jan 11, 2021 - 3:36pm

Agree with this - that being said, I am certainly afraid to log off too early. Pre-COVID when I was getting to know the group, I had an associate tell me that he could occasionally make it home for dinner with the significant other at 8 or 9PM. Definitely not true now; had several experienced associates and VPs tell me that they are busier than they have ever been in 5+ years. The hours have been brutal at times; it can be hit or miss but a lot of people are being hit hard. That's a function of the market more than the group, but it is a group that is trying to expand - which often means doing a lot of work to try to get your foot in the door. We have even delivered work products completely unsolicited.

With WFH and the group being so busy, some things have been a mess. Had a number of fire drills that I felt were completely avoidable. But talking to juniors at other tech groups, none of this seems particularly bad. Tech groups as a whole are just at capacity with everything that's going on. Couldn't comment on what things look like in a normal world.

  • Analyst 2 in IB - Ind
Jan 10, 2021 - 7:42pm

Are you in banks?

Insurance = Average/sweaty, okay deal flow

Banks = Pretty chill, limited live deals

FinTech = Super sweaty, decent deal flow

  • Analyst 2 in IB - Ind
Jan 10, 2021 - 7:50pm

Rather than continue to bash Citi, which I do enjoy doing, here are my impressions of some other groups.

Real Estate = good culture, average hours, best exits opps (but RE-only), good deal flow

Industrials = variable culture (it's a big group, which silos out early, so every silo is different), okay/sweaty hours, solid exit opps, solid deal flow (almost universally)

Consumer & Retail (they were combined) = okay culture, okay hours, okay exit opps, pretty meh deal flow (mostly financing iirc)

  • NA in IB-M&A
Jan 11, 2021 - 11:55am

Can comment on the RE group. Good exits yes, current analyst class placed well in mostly MM/UMM PE. Culture is overall sweaty though, albeit fratty with solid comradery. Group head is an explosive warlord at times - known for berating analyst, assocs, and VPs alike. 

Apr 26, 2021 - 12:41pm

Bump on this thread in general. Anyone got any other insight on the different groups? 

Array

  • Intern in IB - Gen
May 4, 2021 - 12:07pm

M&A: Top Group, bad treatment of Juniors.

Industrials: Great group, culture varies wildly, but for the most part ok.

Power: Great Group, work hard, but strong comraderie

Real Estate: Great Group, Good Culture.

Healthcare: Solid Group, Solid Culture.

Comms: Solid Group, horrific culture, possibly worse than M&A

Sponsors: Ok Group, probably the best culture out of any group at Citi. Still exit well even though not very technical.

Tech: Deal Flow has improved, but culture is still poor.

C&R: Weak Deal Flow, Weird Culture.

My ranking for both exits/deal flow (generalist) and culture: M&A, Industrials, Healthcare, Power, Sponsors, RE, C&R, Tech, Comms

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