Lincoln thoughts?
Would be interested to hear about how Lincoln International is performing?
General thoughts like: - overall strength - how it compares to the top MM players like William Blair / Baird - strongest/weakest teams (Interested to hear about the Healthcare team?) - deal flow (they don't appear on any of the M&A rankings on deal volume/fees/size) - deal sizes - culture and hours (there was a recent thread on the intern dying so I’m guessing it’s a sweatshop?) - compensation (according to the WSO database their pay looks extremely low with it averaging as 30-50% bonuses for the analysts and 70-100% bonuses for the associate levels compared with Blair who apparantly pays associates up to 200% bonuses)
Preferably interested in the London office but generic overall / global / US discussions also welcome.
There was another recent thread on Lincoln similar to this but it ended up being hijacked by a debate on PE exit ops and didn’t provide any other useful info.
Thank you.
Having talked to people from there, it is actually a very good culture there and not crazy sweaty. I think with that intern situation I read that he had some sort of prior health issue (may have been exacerbated by the job)
Brand value in Chicago is weaker than Blair and similar to Baird. Outside of Chicago they are probably the best known, and they have a presence across Europe and Asia as well.
Middle market is their bread and butter, both in Chicago and globally. I know a few guys there across levels and they are good people and seem to enjoy it, don’t know how true it is that it’s a sweatshop.
Can’t give you much info on exits as the people I know have been there for ages. I would imagine in Chicago you could move into decent MM funds, but again maybe a notch below where you would land from Blair.
William Blair carries a huge amount of prestige in Chicago, which I can’t emphasize enough. It’s very much the old boys club of Ivy / East Coast educated guys originally from Winnetka, at least at the senior levels. Even my parents who are originally from Chicago, know William Blair, and they couldn’t be further removed from the world of IB / wouldn’t be able to tell you what Blackstone or KKR were. Lincoln is a great shop, but compared to Blair at least in Chicago, falls short.
Edit - missed that you’re interested in London office specifically. Refer to some of my points above, but should be better than Blair in London and considered a decent MM firm. No idea on exits though given general challenges of moving to buyside in the UK I would imagine more difficult from a firm like Lincoln.
Some of their sell side processes have gone completely off the rails and have not been smooth by any stretch. Could be related to specific situations not necessarily the platform
Culture: As someone mentioned above, the culture is very strong despite the unfortunate event that happened a few years ago. Strongest groups: Industrials and TMT, the TMT group is growing very quickly and currently is the most active group at Lincoln. Compensation: Pay is street and can be better if you’re a high performer. Can confirm the WSO data points are either wrong or outdated. Exit Ops: places well into MM/LMM considering they have very stronger relationships with the PE firms they work with.
Lastly the London office is a strong group at Lincoln and I’ve heard has a fun/strong culture. Dealflow is strong so you will be worked, but I’ve only heard good things.
Does anyone have any insight into how summer analyst/ analyst recruiting works for the London office?
I imagine it’s less structured and potentially directly through the office. It’s not grouped with the current summer analyst recruiting as that’s for North America. Your best bet is to network there and see what happens.
How does it match up compared to BBs
It doesn’t lol
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