Low-tier BB Tech IB in SF or NYC BB Coverage for VC/Growth?
Hi everyone. I'm interested in recruiting for growth PE and VC after IB and I understand you're more competitive to do so if you were in tech or healthcare coverage.
Right now, I'm an incoming IB SA at a low-tier BB (think Citi, Barcap, CS) in NYC. I've been thinking about trying to lateral internally to my BB's Tech group in SF but I understand that the tech banking scene is dominated by Qatalyst/GS/MS/JP.
Would I be better off recruiting for VC/growth from a low-tier BB tech coverage group in SF or a "more prestigious" non-tech BB group in NYC? For example, Citi real estate is better than Citi tech, Barclays energy is better than Barclays tech, CS Sponsors is better than CS tech - this is what I mean.
Any feedback is very much appreciated.
go to BB tech in SF
This is a tough question. I guess it depends on the disparity between the two exact groups and how relevant/irrelevant they are to tech.
Obviously Barclays energy would be touch because despite how strong the group is it's just not a great gig to spin yourself as a tech guy. If you're in M&A or consumer it might be easier, although it probably helps to be in tech still.
If you're set on tech, SF. If there's any doubt you may want to work in broader buy-side roles then stay NY.
the only one of those banks that actively covers tech in SF is Citi. Don't really think it's fair to call Citi a lower tier BB overall, since it's definitely a mid tier one, bit unfortunately you're at the one mid tier BB that's pretty shit at tech. you will likely have better luck trying to lateral to healthcare within Citi.
I mean he could be talking about Menlo Park
Yes, SF, Menlo, Palo, Bay Area, whatever
CS/Barclays Menlo tho
All 3 of the ones he mentioned are in fact in SF.. Barc just opened their new office in Embarcadero.
Also interested to hear how UBS and Deutsche TMT might be for exits despite the declining rep of their broader bank brands
Surprisingly, UBS TMT does well
what other UBS cov groups do well? I heard tmt is the best.
How is their TMT compared with M&A and LevFin&Sponsors? Thanks.
Agreed- UBS tmt certainly punches above its weight for exits. Not sure about DB though
DB does well in certain areas too, don't think any BB is really really weak in tech given how much biz there is to share
Not really true since GS MS Q take up like 80% share. Plus JP, Allen, etc
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