Technology, media & telecommunications
Software, internet, media and telecoms companies.
TMT spans distinct business models, B2B SaaS, cloud infrastructure, embedded finance, adtech, vertical SaaS, marketplaces, consumer platforms, superapps, creator economies. Each has different mechanics, so identify which model a posting actually concerns.
For SaaS, learn the vocabulary. ARR, MRR, NRR (above 120% elite, below 100% means revenue is leaking), GRR, Rule of 40 (growth + EBITDA margin ≥ 40), Magic Number, Burn Multiple. For consumer and marketplace work, the words shift. GMV (not revenue, $1B GMV at 2% take is only $20M), Take Rate, DAU/MAU (above 50% sticky, below 20% weak), ARPU versus ARPPU, LTV/CAC (target 3.0x, below 1.0x destroys value). Contractual businesses forecast retention from signed deals; non-contractual platforms rely on network effects as the retention mechanism itself.
Cohort analysis beats blended averages almost everywhere in TMT, selective cohort reporting is a classic red flag. So is take-rate compression, understated CAC (often 2-3x the headline), over-adjusted EBITDA, and customer concentration above 20% from the top ten.
Worth knowing the structural weaknesses too, social-graph platforms hit demographic ceilings and content fatigue; zero-to-one platforms face multi-homing and thin per-transaction margins; hardware-software hybrids carry supply-chain risk and margin drag from the hardware side.
Open jobs
| Job | Firm | Level | Stage | Posted |
|---|---|---|---|---|
| Mergers and acquisitions |  Circle Square | Analyst | 2+ years | 6 weeks |
| Investment banking · Technology, media and telecoms |  Deutsche Bank | Experienced | 4+ years | 7 weeks |
| Investment banking · Technology, media and telecoms |  Goldman Sachs | Analyst | 1+ years | 7 weeks |
| Mergers and acquisitions · Technology, media and telecoms |  Lincoln International | Analyst | 1+ years | 3 months |
| Investment banking · Technology, media and telecoms |  PJT Partners | Associate | 3+ years | 3 months |