Moelis vs Terra Firma vs BAML FIG (London) ?

Wok Monkey's picture
Rank: Chimp | 15

Hi fellow monkeys,

What are your thoughts on the following for a graduate programme in London:

  • Moelis generalist
  • BAML FIG
  • Terra Firma

I am interested in exit opps in tech investing.
I've had the better fit with Moelis. Don't care much about FIG but BAML seems to have a better brand name, and Terra Firma pays a really low salary and doesn't have much capital.

Thanks !

Comments (13)

  • Intern in IB - Ind
Feb 21, 2020

BAML has best rep of the three you mentioned. Would still take BAML FIG over Moelis, despite the possible FIG 'pigeonholing'.

Feb 21, 2020

terra firma is a shadow of its former self

  • Analyst 3+ in PE - Other
Feb 21, 2020

FIG is only an option if u like it
If u are only ok with it, it may not be a very good choice for u

  • Incoming Analyst in IB - Gen
Feb 21, 2020

Would you mind sharing the starting salary at Terra Firma for grads? I'm curious.

    • 1
Feb 21, 2020

Terra Firma has poorly performed over the last few years so would advise against going for them.

Now BAML>Moelis but it is FIG, so its quite specific, don't be just fine with it, you need to be keen on learning about the sector. I would guess you are keen on the sector/know what to expect as you must have had FIG technicals.

You can PM me for more infos, had friends interning at both firms and one of them is joining FIG at BAML.

Feb 21, 2020

.

Feb 21, 2020

Thanks for the replies !

I am not particularly keen on FIG and was mainly wondering whether a stronger fit with Moelis (team and work) was worth sacrificing the recognition gap between Moelis and BAML? Especially for exits at top tech funds (Accel, Insight, etc) long term

For Terra Firma, you're probably right. The entry salary is PS35k I believe, from public sources

Feb 21, 2020

Quick side note, does anyone know what are hours like at TF?

In terms of your exits, for Tech investing in VC (London) I think brand name helps a lot if you previously did IB. I interned in VC and people coming from banking typically were at top BBs (but maybe it was just who I came across). Goldman is definitely popular. However you don't have to necessarily come from a tech coverage group. Guy I worked with came from FIG, and so was super knowledgeable of industries like insurance, which are very very complex but also attracts a good proportion of FinTech investments. His knowledge was therefore valuable. There are also other ways for you to build a tech resume, e.g. working as an Angel investor, I know people who did this whilst in banking. They invested a few thousands, got close to the ecosystem and built valuable knowledge. Definitely not easy given time constraints etc. but possible.

About Terra Firma, they spent significantly more on salaries for 2018, so maybe salaries have been bumped up. Here's the link. Currently interviewing pretty much everywhere (HF/AM/PE/VC) but not banking as it isn't for me so unfortunately can't comment on your specific firms, but if I get to the last stage with TF (currently going through recruiting) I'll share whatever I find out. Should be over by end of March.

Feb 24, 2020

Thanks for the replies !

So everyone agrees I should take any of these 2 banks above TF?

Feb 24, 2020

Yes, I would take BAML FIG and try to position yourself to Fintech. I am surprised that Moelis in London is still recruiting, because it is not going well for them as their MD-ranks has thinned out quite a bit. When did you interview with them if I may ask?

Feb 24, 2020

BAML FIG is a sweatshop, nice group but... If you are leaning towards Tech I would go to Moelis or try to change groups. Not sure if those long hours are worth it or not in order to move to Tech

Feb 24, 2020

True, but Moelis is perhaps worse in terms of hours. It is also not doing really well...

Feb 24, 2020
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