Citi Tech - any good? Where's it based?

Hello,

I was wondering if anyone knew about Citi's technology group. Where's it based, what's the lifestyle like, what's their dealflow like, etc.

I'm thinking about applying to GS/MS TMT since they're in California, would doing an SA with Citi's tech group be good preparation?

Thanks in advanced.

Comments (32)

Apr 8, 2011

Thinking about applying to GS/MS TMT? I've heard both Blankfein and Gorman are now accepting resumes from college students specifically for those groups. Have heard also that all you need to do is ask nicely and tell them you love Cali.

Citi Tech is 'meh;' the M&C group is much better, but I believe that's in NY. Sorry.

Apr 8, 2011
analystforhire:

Thinking about applying to GS/MS TMT? I've heard both Blankfein and Gorman are now accepting resumes from college students specifically for those groups. Have heard also that all you need to do is ask nicely and tell them you love Cali.

Citi Tech is 'meh;' the M&C group is much better, but I believe that's in NY. Sorry.

I thought MS Menlo Park was all tech?

And I thought GS SF was the TMT base too?

If I did an SA in Tech and applied to one of those, you think they'd be considering me for their healthcare groups or something?? You must be a genius. I've heard NYU Stern was only for kids who got rejected at every Ivy League and all other decent schools who desperately wanted a chance to get into finance, but they never told me it was full of geniuses such as yourself.

Apr 8, 2011
Spirit of LA:

If I did an SA in Tech and applied to one of those, you think they'd be considering me for their healthcare groups or something?? You must be a genius. I've heard NYU Stern was only for kids who got rejected at every Ivy League and all other decent schools who desperately wanted a chance to get into finance, but they never told me it was full of geniuses such as yourself.

You're pretty condescending. Just because you summer in a tech group does not make you a shoe in to get a FT offer at the top Tech groups on the street. You will not become a Tech expert from your 9 - 10 week banking internship. If anything, they will be more inclined to give the few FT offers they have after they give out offers to their SAs to someone who was in a strong group, regardless of industry. I think we've established that Citi Tech is not one of those groups.

Apr 8, 2011
Spirit of LA:
analystforhire:

Thinking about applying to GS/MS TMT? I've heard both Blankfein and Gorman are now accepting resumes from college students specifically for those groups. Have heard also that all you need to do is ask nicely and tell them you love Cali.

Citi Tech is 'meh;' the M&C group is much better, but I believe that's in NY. Sorry.

I thought MS Menlo Park was all tech?

And I thought GS SF was the TMT base too?

If I did an SA in Tech and applied to one of those, you think they'd be considering me for their healthcare groups or something?? You must be a genius. I've heard NYU Stern was only for kids who got rejected at every Ivy League and all other decent schools who desperately wanted a chance to get into finance, but they never told me it was full of geniuses such as yourself.

I always attempt to answer intelligent, well-thought questions on this forum with whatever little knowledge of investment banking/college/etc I possess. The point of my post is that you think just because you do a summer in Tech at C you are a shoe-in for MS/GS TMT? You haven't even stepped into a bank yet. You have no idea whether you will be a standout, whether you'll hate it, love it, whether you'll be well-liked by your superiors or peers, whether you'll even get a return offer. Maybe you'll like Citi a lot and want to go back. Your Ivy mind has hard-wired you into turning life into one big prestige jerk-off session (note: I have friends at Ivies who aren't like that at all, others who are, but it seems by your response that you epitomize that 'type'). Secondly, many SAs switch groups for full-time. After 10 weeks you think you'll be the second coming of Frank Quattrone and your arrogant little brain won't be able to be molded into any industry group the bank you'll be working at chooses?

You are correct on one thing. I did get rejected from most of the Ivy League schools; NYU Stern was definitely not my top choice. However, that was roughly four years ago and I've been pretty happy with my college experience; have learned a lot, got my dick wet quite a bit, made good friends. You, on the other hand, should probably get well-acquainted with rejection; judging by the way you handle yourself, you will feel it quite often in your life.

    • 1
Apr 8, 2011

Are the GS and MS TMT groups in Cali? From previous posts, it seemed that the Cali analysts were generalists. So I would think that TMT would be run out of NY. And I am only basing this off of previous posts.

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Apr 8, 2011

There are dfinitely group specific analysts for both GS and MS in Cali. I have a friend at GS TMT out in Cali. That being said, I think Citi Tech is pretty average, and its probably not a good bet to summer in Citi Tech and think you'll get GS/MS Tech out in LA.

Apr 8, 2011

Citi tech is in Palo Alto, and the impression I get is that they're not very strong.

In the world of West Coast tech, if you're not GS, MS, Qatalyst, BarCap or CS, you're the fire hydrant getting pissed upon.

Apr 8, 2011
whateverittakes:

Citi tech is in Palo Alto, and the impression I get is that they're not very strong.

In the world of West Coast tech, if you're not GS, MS, Qatalyst, BarCap or CS, you're the fire hydrant getting pissed upon.

where did barcap come from???

Apr 8, 2011
Ricqles:
whateverittakes:

Citi tech is in Palo Alto, and the impression I get is that they're not very strong.

In the world of West Coast tech, if you're not GS, MS, Qatalyst, BarCap or CS, you're the fire hydrant getting pissed upon.

where did barcap come from???

Mid-2010 tech M&A league tables. They were #1 or #2 until MS took over with some major deals.

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Apr 8, 2011

So GS TMT is based out of San Fran? This may not be very accurate but I looked at the Wharton Career Survey for this past year and of all the GS analysts, none went to SF. I find it hard to believe that nobody went to TMT.

Apr 8, 2011
Millhouse:

So GS TMT is based out of San Fran? This may not be very accurate but I looked at the Wharton Career Survey for this past year and of all the GS analysts, none went to SF. I find it hard to believe that nobody went to TMT.

GS TMT is based out of SF - the TMT group head sits in this office. However, SF is mostly tech. Media & telecom is based primarily out of NYC.

MS Tech is down in Menlo Park. Tech at MS is not integrated into a TMT group.

Apr 8, 2011

Ah okay. Thanks for the clarification.

For GS, so would both NYC and SF TMT groups be considered the "top" groups that everyone refers to? Or is it mainly one over the other?

Apr 8, 2011
Millhouse:

Ah okay. Thanks for the clarification.

For GS, so would both NYC and SF TMT groups be considered the "top" groups that everyone refers to? Or is it mainly one over the other?

Same group, same rep. However, like I mentioned above, each office has a slightly different industry focus with TMT.

Apr 8, 2011
PrimeTime212:
Millhouse:

Ah okay. Thanks for the clarification.

For GS, so would both NYC and SF TMT groups be considered the "top" groups that everyone refers to? Or is it mainly one over the other?

Same group, same rep. However, like I mentioned above, each office has a slightly different industry focus with TMT.

So is it accurate to also assume that in terms of PE recruiting, there is no difference? And in general, exit opps for TMT in SF would be more west coast focused whereas NYC would be NYC?

Apr 8, 2011

I've heard decent things about Citi Tech in NYC...

Apr 8, 2011
Solidarity:

I've heard decent things about Citi Tech in NYC...

Same here. I was under the impression that they have even been outperforming comms for the past year.

Apr 8, 2011

PrimeTime - I sent you a PM.

Apr 8, 2011

I definitely was at the time. I got into a couple Ivies but didn't want to be in a non-city environment, and also liked the idea of UG business, so chose Stern instead. Am I still mad? No. I'm pretty happy with how things turned out.

Apr 12, 2011

Interesting that you're thinking of applying now for SA. Isn't the process usually over by now?

Apr 8, 2011

uh..i would not put barcap the same category as ms,GS,qatalyst or cs and i dont think anyone who works in tech ib would.

But to OP's question, Citi tech is not very strong in menlo with regards to M&A. They recently did a LBO on one aerospace IT deal but I think that's from NYC. They were, however, on a couple of other equity deals thus far so you will be doing deals, just not as much as other shops I mentioned.

Apr 8, 2011
Ricqles:

uh..i would not put barcap the same category as ms,gs,qatalyst or cs and i dont think anyone who works in tech ib would.

But to OP's question, citi tech is not very strong in menlo with regards to M&A. They recently did a LBO on one aerospace IT deal but I think that's from NYC. They were, however, on a couple of other equity deals thus far so you will be doing deals, just not as much as other shops I mentioned.

OK, refute what I just stated. They were killing it last year.

Apr 16, 2011

you got the interview?

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."

Apr 16, 2011

At the moment I'm just trying to find out more info about the group since there doesn't seem to be much recent stuff about them in the forums.

Apr 16, 2011

have a friend that recently left that group - deal flow wasn't as great as other groups or tech teams at other banks. mainly 70-80% capital raising activities, mostly credit memo writing.. Exit opps are reasonably good (think Centerview Partners, etc.) if you can spin your experience well and get lucky getting staffed on a major project.

Apr 16, 2011

Thanks techno! Would you be able to say whether your friend moved to the buyside, corporate finance, or another ib group?

Apr 16, 2011

bump. any other information?

Apr 16, 2011
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Apr 16, 2011
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