I am at a mid-tier BB looking to lateral to another BB with a very strong TMT group. Currently in a great retail group but am staying on A2A and looking to change sectors. From research i've done it seems like this is the consensus in terms of deal flow (M&A) and street reputation. 1.) GS 2.) JPM/MS -Know that the Media Com group is extremely strong at JPM, don't know a ton about MS 4.) Citi/BAML 5.) CS 6.) DB/Barclays/UBS Appreciate any insight anyone has into top performing TMT groups (BB).
11 Sep 2020
Would love to hear people's thoughts on the comparison between Wells Fargo IB (platform offer - all divisions and locations) vs. a small tech boutique (think USA/GCA/FTP in NY office) for SA position. Here's what's important to me: Learning experience & responsibility Potential to re-recruit for full time at BB or EB Exit ops - preferable PE or lateral, and the more optionality the better Getting experience in tech/TMT (whether at SA stage or later on) Culture Thank you so much for sharing. This community has been incredibly helpful throughout recruiting.
10 Sep 2020
I have a Bachelor's in Political Science from a target European University. I then started a master's in Marketing which I didn't finish and did the same with a master's in Finance. By that point, I had secured a full-time offer in a BB in London, in their TMT team. After a bit more than 18 months, I moved to a large bank's Merchant Banking Division, where I have worked across the capital structure (LBOs, Mezzanine, Debt) and I am now focused solely on LBOs and a few special situations investing. I am happy to answer any questions from how to get into IB, lifestyle, TMT exit opps, to how to
22 Sep 2020
Hello fellow Monkeys, I hope everyone is doing well in these crazy times. In light of the Barclays FSG thread, I would love to hear thoughts (culture/exit opps/hours) for the Barclays TMT group in NY. I realize there is an old thread regarding the group, but it seems a lot has changed since and would love to hear about the new changes (good or bad). Specifically the Tech Group.
14 May 2020
Hello! I was hoping that someone could shed light on which group would provide me with the best learning experience for exits into PE? Will any of these groups pigeon hole you? As in if I am in TMT, will I not get to work on bigger deals because of the nature of the industry compared to Industrials where there are many established, big companies (more of them)? I have read that Industrials provides you with a very good transferrable skillset from a modeling perspective, is this more so true than TMT or FIG? It seems like in the TMT space a lot of the deals are ECM/IPO deals and there is not as
13 May 2020
Both industries are interesting and have a lot of developments happening within them. I know that Technology and Healthcare go hand in hand often - does this mean that the Healthcare group will cover a healthcare technology company or would that be covered by the Technology group, does anyone have any insight into how this works? Is one industry better for PE/VC than the other? It seems as though with TMT you could transition into a startup/tech company/VC/PE, it seems with healthcare it is more common that analysts would go into PE? Does anyone have any insight into this or could argues pros
01 Jun 2020
I am currently from a semi-target NYC school in Los Angeles and am looking to make my way back to where I grew up, New York. I am very passionate about Technology and Finance which obviously leads me to a TMT group. There was a forum from 2015 on the topic but I assume a lot has changed since then. I have been preparing for several months and know that San Francisco is the home of the TMT group but I am wondering which groups (in BB, Elite Boutiques, or MM) would be the best to go for in NYC. I've heard Goldman Sachs has a great program - past that I don't know much. Would love to hear from
06 Jan 2021
Hello all - I have a final round coming up for an infrastructure fund focused on telecom, airports, roads. I have read a lot of posts on modeling type of case studies and am comfortable with those, but can someone provide tips or general idea of how more on-the-spot type of case questions would like? I'm currently guessing market sizing type of questions or modelling approach? I frankly have no project finance experience, just TMT experience for the most part, so any tips / pointers would be appreciated. Thank you!
06 Apr 2020
I have a Bachelor's in Political Science from a target European University. I then started a master's in Marketing which I didn't finish and did the same with a master's in Finance. By that point I had secured a full time offer in a BB in London, in their TMT team. After a bit more than 18 months, I moved to a large bank's Merchant Banking Division, where I have worked across the capital structure (LBOs, Mezzanine, Debt) and I am now focused solely on LBOs and a bit of special situations investing. I am happy to answer any questions from how to get into IB, lifestyle, TMT exit opps, to how to
20 Oct 2020
Can anyone provide any color on the following banks regarding their tech / fintech coverage? Any info appreciated regarding dealflow, comp, culture, etc. How would you rank them? For NYC. * Jefferies * Cowen * Nomura * Rothschild * PJ Solomon * FT Partners * GP Bullhound
12 Feb 2020
Now that Evercore's M&A NYC Analyst class is getting bigger (~50 Analysts) and they are placing Analysts into groups earlier - I was wondering what the top groups at Evercore are considered to be? I'm interested from a deal flow perspective, prestige perspective, and best exit opportunities into PE mega-funds (Blackstone, Apollo, KKR, Warburg, Carlyle, Bain, TPG). Specifically for NYC and specifically for M&A.
23 Aug 2019
What BB investment banks have the best TMT group? I do not mean Tech or Media or Telecom I only mean TMT. I would preferably like to only know the NY location as well. I already know that Goldman has the best TMT group but what other companies are up there and can you rank them?
24 Jul 2018
Not much information on this highly successful TMT boutique shop. Anyone have good intel on these guys? Yes I know they work on TMT deals and own the SoftBank relationship and etc. But what about culture, hours for junior employees, leadership and direction of firm, chance to rise thru ranks, etc.? Do associates and above work across advisory and investing? Anyone have first hand experience? Not much info on WSO or online like Glassdoor.
17 Apr 2018
Hey Guys- Wondering if I'm completely insane here or just stupid. I've been working in Large Cap TMT companies in a variety of roles for the past decade: Corp Dev, Biz Dev, marketing, management consulting, analytics. Past few years, I took the side-door into corporate development as an operational expert for TMT companies. In short, we had a few acquisitions that looked great on paper, but any sort of operational expert in TMT would see early on large issues with the transaction beyond the IRR. Because of that, they put me on to oversee all the operational due diligence and sourcing from
03 Jun 2019
This is a throwaway account because a lot of people know me on my usual handle. I am starting to get sick of my family and my blackberry surprisingly has not gone off in the last couple of hours, so I figured that I would try to give back to WSO, which has been monumental in my career development. I am currently in my second year at a top boutique (although not at the EVR / LAZ level) in TMT M&A. I can field any questions regarding networking into analyst interviews, HH and buyside recruiting, boutique analyst experiences, etc. Happy holidays!
26 Dec 2015
tl;dr: Assessing career next steps. Pros / cons of IBD associate vs. Corp dev. Like many of you, I've been following WSO over the years and am in need of some advice. I've done 3 years of banking and am now thinking about next steps for my career. I enjoy my job but I want some outside perspective on how to think about what my next move should be or if I should continue along my current path. 1. Recently promoted to Associate @ TMT IBD ($250k all-in comp). 2. Option to move into a Corporate Development role at a Tech / Media company ($150k comp). (sidenote: Long term goal is to learn to find
07 Nov 2016
What are considered to be the best TMT groups in LA, NY, and SF individually; please provide both BB and boutique. I know different banks choose to have their TMT groups in different locations, so was just curious where they were. Where is the best TMT group of all!
08 Jun 2015
I'm an incoming associate that's going to a BB with a split MT & Tech group. It seems that I have to choose one or the other. What are people's thoughts in terms of deal flow for each sector over the next few years? Tech in NY seems to be primarily BPOs, payments and some East Coast tech (IBMs etc). I also want to be cognizant of exit opps, which I assume will primarily be CorpDev at the associate level
10 Feb 2016
I've done some research but can't find a updated review of various tech banking groups. From what I've seen, the consensus for top tier seem to be GS SF, MS Menlo Park and Qatalyst. Could anyone shed some light about other BB/Boutique tech groups? I'm mainly looking for info at associate/vp level and overall group performance/culture but analyst level info/placement could be helpful to other people too. Thanks!
03 Mar 2015
For a few personal and professional reasons, I left a BB to join a smaller boutique. This has come with a promotion up a year in standing & pay well-above street (190k base as an Associate 2). I am greatly enjoying it, but the inner ambition in me is curious as to my future career prospects given the size of my current firm. Is it feasible to spend a year or two here and then jump back to a BB or an EB? I'm aware jumping from a boutique to a BB / EB is typically a difficult path to trek, but given I have 3+ years of experience at a top BB already I was wondering / hoping that would mitigate
21 Jan 2020
I know firms like Raine, LionTree, Allen & Co, Union Square Advisors, Financial Technology Partners, etc don't have a lot of precedence for exit opps, but do they still get looks from recruiters for PE? In general, how are the exit opps coming from each of these shops? Interested in starting off at one of the above firms for two years and moving to PE.
05 Dec 2015
Mod Note: Each day we'll be posting the top WSO forum posts of 2014. This one was originally posted on 6/29/14 and ranks #20 for the year by total silver banana count. You can see all our top ranked content here. Given the positive response to our post on FIG, we are starting our TMT overview. Part 1 will cover Semiconductors, Telecom, Hardware and Internet. The second piece will cover Networking, Software and other technology. Introduction: Technology Media and Telecom (TMT) is an interesting space particularly for those that enjoy seeing valuations that can range from "WTF was that"
18 Dec 2014
Hi everyone, I recently took an internship offer at one of the Bulge Brackets' TMT groups in San Francisco area. Just to get a clearer picture of this industry, I am interested in knowing more about the differences between BBs in the TMT space. I have looked online and asked around, but so far, what I found was very limited and outdated. I am very set on TMT, specifically Technology, and I am "open" to staying in banking. I am mainly interested in groups in the San Francisco/Menlo Park area. I specifically would like to know: 1. Does it worth the effort to lateral from a second tier BB (think
10 Dec 2015
I am reevaluating my career path, any input and advice would be appreciated. How are the exit opportunities for a CFA level 3 candidate working in corporate credit ratings at a CRA for the TMT industry (masters/MBA position with client and c-suite interaction)? Prior to this, I worked a few years at a BB in a portfolio monitoring role (financial analysis and internal credit ratings for a leveraged product group). Interested in asset management in tech/media or corporate finance roles at tech/media firms.
19 Sep 2018
Hi fellow monkeys, I am looking to read stories and accounts of past mergers and acquisition deals (past 2-3 decades). On Amazon and other websites, I only find technical books 'how to do merger and acquisition' which i don't want. I want the stories of actual deals, people involved. If not any book, is there other resource?
24 Jul 2014
What are elephants and zebras? What are elephants and zebras? What are elephants and zebras? What are elephants and zebras? What are elephants and zebras?
19 Nov 2019
How would you evaluate these two opportunities? A media focused boutique M&A shop and an alternative HF w ~10Bn AUM. If I were to work for the M&A shop for 2 years would I have a chance to get into the HF if I want to? - senior at a target ivy - this FT offer isn't a SA return I was at a different IB shop - I'm certainly more interested in banking and media coverage but the lifestyle at HF is considerably attractive - I think I just like the people at the HF much better. It's a leaner team sure, but the Co-CEOs both called me personally and told me how happy they'd be if I joined. Everyone I
10 Nov 2019
I am moving from a mid market bank where I've been covering The chem sector for the past ~1.5+ years over to a relatively new boutique advisory shop where I'll be joining the TMT group they are building. I was hoping some of you currently (or previously) in a TMT group could give me a couple sites (free or subscription) to check out for solid industry coverage and up to date news. So far I've been looking at wirelessweek, wired, mediaweek, and the Reuters industry news. Any guidance would be very much appreciated.
10 Aug 2015
If you had an offer from GS or MS TMT group and Qatalyst Partners for an analyst position, which would you take? I'm honestly having a hard time with this. Since starting in 2008 Qatalyst has done $70B in TMT advisory and has truly set itself apart as an best in breed boutique. On the flip side, I feel the perhaps GS/MS would have a better alumni network, a broader set of deals (as opposed to primarily M&A), a more defined analyst program,ect... How would you compare the two? What would you weight more? Most importantly, who would you choose?
05 Jun 2013
I was looking through job postings on GoldmanSachs.com and found this: http://www.goldmansachs.com/a/data/jobs/30807.html It looks like a regular IBD TMT Associate job, job title: Associate, IBD10814SRTMT Typical description stuff: Duties: Structures, analyzes and executes transactions on behalf of companies in the technology, media and telecom (TMT) space (specializing in technology specific to internet, e-commerce and software). Reviews proprietary financial models for the TMT sector, such as M&A, DCF, and LBO valuations. Helps senior team evaluate models to develop key judgments..... But then it has this line: " Work Schedule: 40 hours per week (9:00 a.m. to 6:00 p.m.) "
24 Nov 2014
Hi guys I cover TMT in London (from IB) and I love my sector. As the passion grew, I actually found myself learning things like software development and network engineering as a hobby. I am keen to meet up with like-minded people who work in TMT to discuss sub-sectors, careers, developments etc If you are interested - pm me.
24 Oct 2019
Hi guys I cover TMT in London (from IB, not buy-side) and I love my sector. As the passion grew, I actually found myself learning things like software development as a hobby. Some clients love when there is a banker in the room who actually understands the operational side of the business being sold / acquired. I am keen to meet up with like-minded people who cover TMT to discuss perspectives on sub-sectors etc Please be assured that this is not a trick to meet someone from PE in order hand in my CV in the hope of switching to buy-side. If you are interested - pm me.
24 Oct 2019
Fellow Monkeys, I am considering joining Citi in London soon. I have the opportunity to either join their TMT team (which, from what I understand, is mainly focused on M&A transactions but will involve some ECM / DCM work as well) or their Financial Sponsors team (where 2/3 of the workflow revolves around the TMT and Healthcare sector). My career aspiration is to get into VC at some point (possibly post MBA), so I am looking for advice on which team I should join to better position myself as a strong VC candidate in a few years. I am mainly concerned about the transferability of the skill-set, the industry exposure, the networking opportunities and obviously the reputation of the group. Any thoughts? Thanks!
27 Sep 2014
Is there generally any advantages to networking with Analysts? The only advantage I see is if you hit it off with them, they can refer you to an Associate, VP, or MD. So, essentially, to work your way up the ladder. I know at smaller boutiques, Analysts are the ones that review resumes and make the shortlist, but is it the same at BB's as well? If anyone has any advice, I would greatly appreciate it. Thanks and God Bless!
10 Apr 2013
Hey all, Landed a GS offer through their regular process (target school). Had two TMT interviewers and two FIG interviews during my process - both sets responded to my follow-ups and offered to speak to me about their groups. I realize that these are considered the "top" groups at the bank, so I really just wanted to get a sense of differences in culture, deal flow, exit ops, etc between the groups. Thanks guys!
17 Feb 2013
Hi guys, So suppose you having been working in a BB for two years in ECM/DCM and have gotten the opportunity to interview for industry groups, specifically, TMT. What would be the best way to prepare for such an interview. Would the interview be very much like that for a new analyst aince you don't have prior industry experience? Or would it more associate level?
10 Jul 2011
As you may know, tech IPOs had one of their worst years in 2015, and there are murmurs of a bubble in private tech valuations, esp. at the higher valued companies (unicorn-level). At the same time, M&A was at an all-time high in 2015. I will be joining a TMT boutique for SA, and have no idea what to make of these two data points. Can any current TMT bankers comment on how TMT M&A might be affected, and how this might impact return offers?
27 Feb 2016
What makes it special versus other high-deal flow groups (Healthcare, etc) and say GS Sponsors? I can understand MS M&A since its the best M&A group, etc but why is GS TMT considered so great? Is it just great deal flow?
11 Feb 2010
It seems like everything I read about Technology M&A is based out of SF. Is it possible to focus on technology M&A but be based in New York? If so, is that more commonly done through finding a tech industry coverage group in New York or just join the M&A function? I want to focus on business to business technology companies. Any idea what IBs are best for this?
31 Aug 2014
Guys, anyone has any idea on how strong is Citi's TMT franchise in NY/SF/Palo Alto wherever it is based. I know they hired Union Square Advisors' founder last year, but hoping to get the view on current deal flow there? thanks a lot!
12 Feb 2012
When people talk about GS TMT being very "prestigious" and having great exit opps, etc., is this just for the NYC group? How does the SF group do in terms of hours/pay/exits? For someone in college, is it better to do SA/full time in NYC (for TMT)?
14 Nov 2010
I have an informational interview with an alum at BofA soon and he might ask me what groups I'm interested in. Media is the industry that interests me the most so I'd probably say TMT. Does anyone know anything about this group at BAML? What are some strong groups there? I imagine they have a great Lev Fin group since they can leverage their huge balance sheet. Any thoughts?
23 Sep 2010