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Generally agree with you but I've got offers at one of the EBs and one of the BBs. Trying to muddy the waters a bit.
Depends on the group then
why so salty it sounds like he is choosing between offers
I went to a competing EB over some BBs
Would say overall, personally would pick EVR > Citi, BAML, CS > PWP = Barclays> DB, UBS
But depends if you like the culture for some of the EBs it's a bit love or hate, also depends if u can get the right people to like you or not, eg at my EB a few VPs/EDs like me and put me on all their best deals, while some other analysts are being shifted around and always work with different people and on the more obscure sectors / geographies. So its up to you to stand out and avoir the obscure Indian chemicals staffings, while I would think in larger BBs people will barely know your name So it's more random
Your comment only applies to the US, it's obvious you're not aware of the IBD landscape in London.
Evercore London has bad dealflow and is definitely not considered "top notch preftigious".
I work at another EB in London, but thanks for your contribution.
Reason for Evercore is super high pay and recruiters only knowing US rep. Also they’re actually not so small in London compared to other EBs
Speaking from your extensive intern experience?
You lot are overstating EVR in London. They do have a strong reputation and brand name but they don't pay higher/that much higher than other top American banks in London. Their dealflow is okay but for a while they were on MM and LMM M&A deals. If you want the proof, check out their transactions page and the HY1 2021 MergerMarket EMEA Deal Drivers report.
On the report you'll find Citi, UBS and CS in the top 10 but not EVR for most sectors. The numbers speak for themselves.
Not got much info in terms of culture, but I hear they are friendly / have a friendly culture and definitely not sweaty in terms of working hours. For the BBs it is probably more team dependent.
Still see EVR analysts and associates making good exits, I think HH do recognise the brand name.
If you think UBS is better than Evercore, something is wrong with you
EVR=PWP>BB’s
Mid/lower/top/whatever BBs only exist on this forum. There are full service banks, middle market, and independents.
BAML LevFin is top-tier if buyside Credit is on your agenda
My view is that US BBs are more or less equal to EBs depending on your preferences (M&A only vs cross product offering), pay may be 10-20k higher for EBs so coming out post tax at 5-10k, I would not make a career decision based on such a “small” amount of money.
I am really not a fan of evercore these days, they have diluted talent a lot by aggressively hiring and are really going down to do some small deals - not that it’s a bad experience, just up to you as to what you want to do.
PWP remains super selective (both for talent and deals they do) and has hired few more seniors, I really like how they approach things - i.e. don’t want to purely be a volume shop but wants to do big fee events deals (you work the same amount on big and small deals but in one case you make much more $$$ - so to make the same PnL you need to work less...).
CS has struggled recently so I would not necessarily take such risk, DB seems like is picking up again - levfin still doing good and some M&A here and there. UBS is nowhere it seems these days.
You still have cross product at EBs, ie M&A, IPO, PIPE, RX, fund placement
Any idea on how HL fits into this thread? Pay, exit opps etc
Idk about pay, would think RX oops are quite good. Otherwise a bit under EBs, but actually I sometimes see HL guys at very good VCs as well
M&A or RX?
For top PE exits only:
It is all much of a muchness in Europe, I would say EVR is the weakest of the lot tho. The only banks that really do have an edge are GS/MS/JPM. If you look at Linkedin/ListAlpha (the latter of which doesn't register EBs due to their size), BofA and CS seem to place slightly better among the BBs but that is very marginal. Note this data is backward looking by nature so caveat emptor. In general I would say in Europe if you are deadset on exiting, going to a BB (any of them) is always the safest bet, but honestly EBs are building out their franchise and reputation too in the region so I would imagine they are on headhunters' radars.
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