Most Helpful

Most fintechs want to be valued like software or payments companies. So the goal is to have recurring revenue or take rate revenue models (or both). Saw extremely high multiples in 2021 like well over 20x revenue. Look at the performance of recently public fintech companies, though. Getting completely battered and some are off 60-90% from IPO price. (E.g., Hippo, an insurtech)

Multiple compression in private markets has lagged but every fintech startup internally knows they'd raise flat or down in this environment. Seeing much more aggressive stipulations on term sheets like higher liquidation preference, participation, cumulative dividends etc. You’re going to see the effects of a 2023 round on these cap tables for years.

I would bet two things.

  1. Many 'unicorns' that raised at valuations near $1B in 2021 are worth nowhere near that right now.
  1. Companies that stayed private are going to wait on the sidelines until the IPO market improves.
 

Adipisci consectetur quaerat veritatis. Hic sit beatae ducimus. Consectetur dolore architecto sit veritatis perferendis quis culpa. Enim libero voluptatem accusamus similique.

Hic ut odit voluptate ut qui. Sed deleniti facilis quos. Aut reiciendis placeat magni facere aut voluptas. Nulla rerum voluptas quam nesciunt.

Est accusamus aspernatur voluptatem quam cumque. Ullam et et corporis modi neque necessitatibus. Qui laboriosam adipisci sit dolor et delectus.

Odit aliquid quis id id natus recusandae dolor recusandae. Voluptates omnis quas illum tempore voluptate saepe blanditiis.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 19 99.4%
  • Lazard Freres 06 98.9%
  • JPMorgan Chase 09 98.3%
  • Morgan Stanley 05 97.7%
  • Moelis & Company 01 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (22) $375
  • Associates (94) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (69) $168
  • 1st Year Analyst (206) $159
  • Intern/Summer Analyst (151) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”