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Greenhill for sure over the other two assuming all NYC. i would personally rank Moelis last in terms of culture considering the people i interviewed with, but i'd take Moelis LA over both of them for exit opps/learning experience.
I may be in the minority here, but I would go with PWP. Will explain more below. The firm doesn't get a lot of attention on WSO (likely because it is very new and pretty small once you remove Asset Management), but I personally think it is one of the top boutiques out there. Do you have offers at these places? If for SA, I know GHL has historically done recruiting quite late (Jan/Feb) so would be surprised.
Moelis- LA office is still great with the old UBS guys there and Moelis himself which ensures superb exits. Not the same for NYC- good exits for sure, but nothing that will blow your mind. Moelis is one of the few places (along with Rothschild and specific Lazard groups) that is a true sweatshop and I can confirm that 100 hours is pretty common there. Even in the case that exits were slightly better than GHL and PWP (which they aren't) the marginal difference would not be worth the significantly worse lifestyle (both GHL and PWP are known as very good lifestyle banks).
Greenhill- Definitely a strong boutique, but they have been in decline over the past 2-3 years. From what I've heard, Robert Greenhill is pretty much checked out at this point, and he was a big part of their success over the firms first decade. That said, lots of other solid senior people there, and they are still doing well. Exits are a bit exaggerated on WSO- they are good but not great. Mostly MM PE and not to the H&F/LGP types necessarily.
Perella- I love this place, and I am not affiliated with it whatsoever. Have a buddy from college who is now an associate, and he loves it as well. I would liken PWP in many ways to Centerview with a few differences- I believe they still have a 2 year program at PWP, but it may be 3. They don't pay the 200k or whatever it is that CV pays, but they are known to pay quite well and above street. PWP commonly exit to business schools, and the rumor is that you are almost a shoe-in at HBS (not sure how true that is). This exit to b-school matches CV. However, where CV doesn't have much of a track record sending analysts to PE, PWP from what I've heard places very well and the senior people are incredibly supportive (and with obviously lots of contacts). Culture-wise it doesn't get much better- hours are still banking ours but not horrendous, and the people there are great.
Anyways, can't go wrong with any of them, particularly GHL and PWP. PWP doesn't get a ton of attention on here for some reason (though there are a few recent forum posts on it). The people there are incredibly impressive and great at what they do, and that would be my choice.
I agree that among these three PWP is the most outstanding.
@"Black Jack", how exactly would your buddy describe the culture at PWP? Based in NY? Would you say 100+ hour weeks occur regularly?
Yes based in NY- he is an associate, so different from analyst hours, though his are pretty good. He loves the culture there and the people- hours seem to be decent (not Moelis/Rothschild type but also not ridiculously laid back). Pure speculation, but I would think hours would be similar to Evercore/Greenhill hours (probably more intense than most BB but not horrible).
Thanks for the reply, I have an interview this week for a lateral role and trying to get some updated info on culture and firm structure, given that most search results are from 2010.
Full disclosure, my perspective has been shaped by MBA associate recruiting: It seems Moelis doesn't get a lot of love here, especially NYC vs. LA. On paper, despite some growing pains inherent to their rapid ascent, they seem just as competitive in terms of deal flow as any of the other "elite boutiques". They also seem to have the momentum that PWP and GHL lack (or at least publicly take credit for). I know Moelis isn't as mature as an Evercore, but they sure seem to be headed in that direction in terms of consistency and quality of deal flow, pay, prestige, etc. Beyond some of the things already mentioned, can some of the industry insiders on this forum shed some light onto what is holding Moelis back in their view?
Lol @ PWP supporting analysts in the buyside recruiting process.
Go to Greenhill.
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