Analyst, Technology M&A

The London-based M&A Technology team at Lincoln International is hiring an Analyst, posted 3 August 2026, and the firm calls the team 'growing'. You would support origination and execution, typically reporting to an Associate or a Vice President: assisting with client presentations (the posting's own word is 'pitches'), researching public company and transaction multiples to support valuations, supporting the drafting of information memoranda, collecting and interpreting complex datasets, conducting industry research on target companies, market size and competitive position, and providing administrative support including meeting agendas, meeting notes and management of the deal Q&A. Source

What the M&A product is, from our own orientation: mandates are won in beauty parades against three to five banks pitching on market overview, process, track record, team and fees. A sell-side then runs four to six months - seller diligence, quality of earnings and data room setup; buyer outreach on teasers and NDAs producing five to ten indicative bids; a narrowing to two to four bidders with full data room access; best-and-final bids and SPA negotiation; then regulatory clearance to closing. Sell-side fees run 1-3% of enterprise value against 0.5-1.5% on the buy side, which is why banks chase sell-side mandates. The analyst's deliverables are the Confidential Information Memorandum of forty to a hundred pages, the management presentation, the data room and the valuation work behind them. Source

Take the title apart. 'Analyst' is the junior seat on the deal team, and this posting is unusually honest about what that includes - the multiples research and the information memorandum, but also the meeting notes and the Q&A log. Anyone telling you the first year is all modelling has not done it. 'Technology' is the sector you cover, so you follow software, internet and hardware companies rather than a product line. 'M&A' is the product, and it is the first service line Lincoln lists about itself, so this is the house's core work rather than a side desk.

The team is the London-based M&A Technology team, described by the firm as growing. The reporting line is stated, which is rare and useful: an Analyst here works to an Associate or a Vice President, not directly to a partner, and the same posting says the team originates as well as executes - the market analysis and competitive positioning work feeds pitching for new mandates. Source

The homework for this desk, from our TMT orientation: technology is not one business model but many - B2B SaaS, cloud infrastructure, embedded finance, adtech, vertical SaaS, marketplaces, consumer platforms - and each has its own arithmetic. For SaaS: ARR, MRR, NRR (above 120% is elite, below 100% means revenue is leaking), GRR, the Rule of 40, Magic Number, Burn Multiple. For marketplaces and consumer: GMV rather than revenue (a billion of GMV at a 2% take rate is twenty million of revenue), take rate, DAU/MAU (above 50% sticky, below 20% weak), ARPU versus ARPPU, LTV/CAC with 3.0x as the target. Cohort analysis beats blended averages almost everywhere, and the diligence red flags are selective cohort reporting, take-rate compression, customer acquisition cost understated by two to three times, over-adjusted EBITDA and top-ten customer concentration above 20%. Source

Lincoln introduces itself as an adviser to business owners and to senior executives of private equity firms and their portfolio companies, and it sells private funds advisory and valuations alongside M&A. Expect sponsor-owned software and tech-enabled services sell-sides rather than headline mega-cap deals - which is good news for preparation, because it means the recurring-revenue vocabulary above is the actual day job rather than an interview flourish.

Lincoln International, Inc. is NYSE-listed as LCLN and describes itself as an investment banking adviser to business owners and to senior executives of leading private equity firms and their portfolio companies, as well as to public and private companies. Its services are M&A advisory, private funds and capital markets advisory, and valuations and fairness opinions, delivered by more than 1,400 professionals in more than 30 offices across 14 countries. The posting also states the working pattern: employees are in the office Monday to Thursday, with the option to work remotely or from the office on Fridays. Source

15 people have held London roles at Lincoln International as a whole since 2018 - a firm-level figure, because the London office is too small for us to publish a count for the technology desk on its own.

Fifteen people across the entire London office over eight years, against more than 1,400 globally, sets your expectations correctly. This is a floor where you will know everybody, be on live mandates rather than in a training pool, and be judged by two or three seniors rather than by an HR scorecard. The flip side is that almost nobody in your year will have done this job, so the usual route of asking a friend how the interview went is closed to you.

Two rows carrying this exact title and the same 3 August 2026 timestamp sit on Lincoln's board under different Greenhouse ids - 8103298, which is this one, and 8103296. The descriptions are the same job. We cannot tell from the source whether that is two seats on one desk or one seat listed twice, and it does not change what you should do: apply once, to whichever link you have open, and say in the note that you saw both. Two applications into the same small desk reads as scattergun rather than keen. Worth knowing before you choose: this version of the page carries the visa and hybrid-working lines and the other one does not, so read this one for the terms.

No deadline is stated and the row has been open since early August. A single named seat at a firm this size closes the day someone accepts, so apply promptly rather than polishing. Absence of news is not closure - we keep a posting live until the firm gives positive evidence it has gone.

Stated qualifications: experience in an accounting firm, preferably in financial due diligence, or at least six months' experience in an investment bank or a boutique M&A firm; solid financial knowledge across accounting, financial analysis, financial modelling and company valuation methods, with the analytical ability to work alone and in a team; attention to detail, organisational skills and commitment to excellence; strong interpersonal skills, timekeeping and delivery; fluency in written and spoken English; and comfort with the IT tools of the role. Source

The hard gate: Lincoln International is not currently hiring individuals for this position who now or in the future require sponsorship for employment visa status. If you would need a Skilled Worker visa at any point, this seat is closed to you whatever else your application says. Source

Read the experience line carefully, because the bar is far lower than the phrase 'named-desk analyst seat' usually implies: six months in an investment bank or a boutique, or a stint in an accounting firm's financial due diligence team, is enough to be inside it. That puts this within reach of someone about a year out of university - a Big Four FDD analyst, or a graduate who has done a six-month off-cycle. It is a permanent job rather than an internship, so do not read it as a student seat, but it is one of the few named-desk London rows a recent graduate can honestly answer.