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May 31, 2024
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Cantor is probably going to be at the top given new hires. It’s not a BB btw.
JPM = MS > GS imo.
Also I would recommend you don’t focus on gunning for a select few banks. Openings in this industry happen randomly and it’s for 1 seat. If you get an offer to break into the field you take it.
You have a PhD or MD?
After doing more diligence and networking, it seems that smaller shops have more relevant research for buyside. I’ve gotten my hands on several BB research, and the quality is quite low vs smaller shops imo (biotech). Three banks in particular have peaked my interest: 1) SVB, 2) LifeSci Capital, and 3) Cowen - fair to prioritize these over the BBs?
Isn’t LifeSci capital buyside?
Agree, seats are hard to come by so apply broadly. I know Evercore, Stifel, and Cantor are still hiring.
In my case, sending a copy of my resume along with a brief note and model to the DOR yielded the highest interview rate. Also, suggest passing the SIE.
You land a job bro?
Would love to see any thoughts on best banks for biotech across the board (BB, EB, MM, etc). Most rankings I’ve seen have been HC as a whole
Stop being a Shimmer shill. Yes, he was top ranked in Smid cap biotech but that doesn’t mean his research is top notch. Seriously, you should asked your buyside clients on what they think of his research. Also Cantor is Cantor. Without a strong IB arm you think they can actually pay anyone else other than Schimmer and Schmidt? No, IB deals won’t just increase 10x because they’re there. Do you really think IB bankers depend on ER to do IPOs and follow-on? And working for him won’t give you a better chance going to buyside than working for a low/no ranked analyst at a strong BB. In the end, you will get looks by working at a well known firm regardless of who you work for. A serious advice for op, do not choose Cantor over JPM/MS or other respected BB/MM.
I used to say the opposite of this, but bros right. Def easier to get looks from recruiters at BB with a not so great analyst vs. a random firm with a II ranked analyst.
BD people at HFs don’t care that you work for Mike Yee (although PM probably do). BD are gonna be your first line of defense you’re gonna have to break.
But is this BD concept only applicable to pod shops? Or are you saying single managers have BD people (that I never know of)?
IDK what you're smoking. Schimmer well regarded on buyside. If a junior works for schimmer, that opens doors (off the top I can think of 2 recent associates of his that now work buyside at Viking and a prominent crossover fund). For some of the more jr folks, undergrads etc. just goes to show how off base WSO comments can be
Lmao bro doesn’t know anything about the industry. Goldman Sachs biotech is a joke. JPM is decent and MS also didn’t have a top II ranked analyst.
Agree. Biotech is its own thing and imo best research comes out of (not in order) Leerink, TD Cowen, LifeSci capital, and Stifel.
The BBs research is pretty crap tbh. Very very rarely do you get alpha from them. The other banks I mentioned actually do quality stuff from the stuff I’ve read. I read most of those banks work regularly if relevant companies.
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