A friend of mine told me last week about having been sweet-talked by senior investment bankers as he interviewed at a prominent shop. They wanted him so badly, a first-year MBA with some tech experience, that they put a full press on, dragging him in to see the big kahuna bankers.
The preceding jives nicely with a scary piece in Investment Dealers’ Digest about the newfound scarcity of junior and mid-level tech bankers:
Larger firms, including Jefferies, which acquired tech boutique Broadview,
and Susquehanna, which started an investment-banking group last summer, are also
adding tech bankers. So is RBC Capital Markets, which plans to grow its US tech
group by 10-15% in the near future, according to John Brew, head of the group.
… While deal activity in tech has grown generally, bankers say that new media
and Internet deals have led the growth. More traditional tech sectors, such as
software, have been less ebullient, although in those areas consolidation has
continued to take place.