Cowen Reputation?
Hi Guys-
I have a first round coming up next week with Cowen for their SA IBD. I have a good idea of what to expect out of the interview, but I was wondering if some people could chime in on what the current state of Cowen is. I searched through the forums but there doesn't seem to be any recent discussion. Mainly interested in pay, exit opps, and how good their HC and Tech coverage groups are compared to other MMs.
Tech is stolen from piper, they are growing. Pay is slightly lower, exit opps to midmarket pe fund is very doable. They are solid/decent.
I don't mean to be a dick, and admittedly have started similar threads (albeit asking more about interview prep), but you have a first round phone call- you need to do well on that, get to the next round, do well on a super day, get an offer, and do well in the internship to even think about exit opps/private equity. Just do as well as you can and try to get the job.
Cowen is a fine firm for anyone in the middle market.
Listen to black Jack though in terms of your career and attitude, many people don't even last 1 year in the industry, let alone make it as a career.
In fact, an obsession with the buy-side is usually done from people with low experience. Many guys on the sell side make a killing financially relative to buyside.
Not to totally derail the topic - hopefully it will spur even more discussion but can anyone provide insight into S&T at a company like Cowen / Sandler O'Neill / Jefferies? I think these companies are often always associated with IBD (and rightly so), but what about the other side?
At least regarding SA, I'm going to guess that Cowen doesn't take anyone in S&T- IB is their primary business, and even there they only take a small handful. Sandler I believe does a rotation program for the interns- spend some time in IB, some on an equity desk, some on a fixed income desk.
Would you say these companies S&T arms are as well respected as their IBD divisions are? I'm assuming it'd more or less be similar?
Maybe? Have to realize these are very small divisions of already pretty small firms. I know a bit more about Sanlder S&T then I do Cowen, but at least for Sandler the guys there are pretty smart/respected guys and it wouldn't be a bad place at all to work.
cowen does in fact take S&T interns
Bump for 2014 SA. General rep on the street right now? I am interested in their HC group.
NY or SF?
Sorry, NYC.
Both HC groups are enjoying the attention that all the biotech companies are getting and were getting a decent amount of action, albeit mainly as co-managers. NY group is alot smaller than the SF group so its probably very lean teams.
PM me I can probably get you more info if you want
From what I gather, NYC's current most lucrative line of business is their debt and equity offerings, primarily in the healthcare and biotech space. Just know what you're signing up for (as you should for any banking job or job in general). If you're looking for modeling intensive M&A work, you're likely going to be disappointed. The ECM desk is booming over there and Kevin Reynolds is a great leader. I know some of the younger bankers there as well - great group of guys and quality of life is solid. You'll come away with a great skill set - just make sure it's the skill set you're looking for because no one likes that sour SA whining that he's not doing enough mahhhhhdeling.
Bump
Cowen IB (Originally Posted: 09/13/2010)
Anyone have thoughts on Cowen's various industry groups? Looking at their deals from the past few years it looks like things are going rather slow...
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Think healthcare and tech are both pretty solid. Not huge deals but have seen them recently on some mid-market IPOs.
Apparently they've canned a shitload of their staff. Morale there is supposedly pretty low, and the people that haven't been laid off are looking.
Is Cowen worth going? (Originally Posted: 04/01/2011)
I just got offer from Cowen in Beijing where they cover business from chinese firms going public in US and Cross Border M&A deals. They said they have better training and project envolvement though not big enough than BB. My planned career path is like IB-MBA-buy side. Is this company worth going? ps I'm finance major undergradute from Peking University.
The name is well respected. If you do well on the deals you are given then yes you can go to the buy side.
Obviously not a BB or even a top boutique, but is still a known name, can probably lateral to a bigger bank after a year, and then your path is more secure. Also, know they've had myriad issues in the US as of late, not sure if this extends overseas.
Whats happened recently?
Why not just shoot for what you want. But swithching groups is very very hard unless promised up front.
I know people who left Cowen NY for BBs - its a name which is know that helps, granted they don't do terribly well.
Asking the question is this company worth going to does not make much sense without hearing your other options. Without other offers, then of course you should go (applies for pretty much any IBD vs not decision), since your primary goal should be to break in. If you asked about Cowen a year ago then you might have received a slightly different response. Recently, Cowen has been doing better and brought in some new senior guys (post merger). Not too sure about Beijing though.
Cowen has a great reputation. Asia even more so.
i heard everyone is leaving Cowen/plans to/doesn't have a strong work culture
PKU -> Cowen should set you up fine... are they offering you global pay? That's a consideration.
Made superday but no offer. Not that good tho.
Bump - would appreciate any fresh perspectives on how Cowen is doing / how the future is looking for them
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