11/17/07

Anyone know about dealflow/reputation/etc. for the middle-market I-bank Harris Williams?

Comments (142)

11/17/07

dealflow: Very good. 2/3 of their pitches turn into deals, and as an analyst only like 15-20% of your time will be spent on pitching. Pretty impressive if you ask me.

reputation: Tops in the middle-market.

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7/23/08
mark klein MD:

dealflow: Very good. 2/3 of their pitches turn into deals, and as an analyst only like 15-20% of your time will be spent on pitching. Pretty impressive if you ask me.

reputation: Tops in the middle-market.

Are you feeling alright? Is everything OK?

11/19/07

Two-thirds Mark Klein? That's a pretty crazy success rate from what I've heard is normal for banks, even smaller ones that target specific types of deals.

11/20/07

They are a very well-respected middle market bank. 2/3rd might be a little high but I heard it's above 50%...

11/22/07

I've heard you basically can get into any 800mm of less PE fund after your time there

11/26/07

HW is an excellent choice if you want to work in the middle market. It won't get you into KKR, but as waltersobchek said, you have an open invite to most PE shops.

CompBanker

6/3/08

Any idea on compensation? Comparable to bulge?

6/3/08

Base comp is around 55k-56k - not sure on bonus, but I know it is below street generally. Trade off is Richmond is pretty damn cheap, although I didn't really like the city all that much.

6/4/08

Any idea how far below street the bonus is?

Also, any additional comp for San Francisco over Richmond?

6/4/08

like others have mentioned, they're very well-respected in the middle market. they run very good processes and they're able to get some pretty rich valuations on their deals as a result. i know PE firms (mine included) talk about how tough it is to win a HW deal simply because the multiples are too rich, but i guess from an analyst's perspective, this is the type of work you want to be doing if you're looking to get into the middle market.

6/4/08

something to keep in mind at the analyst level - it seems like they do primarily sellside M&A. while this is definitley helpful in the transition to PE, it doesn't sound like they do much or any buyside m&a at all. i'm still in school, but had offers from HW, and chose another bank primarily for this reason, as I felt that I could get more exposure to different products and whatnot.

Don't know much about the SF office, but the MDs/Directors in Richmond are actually really cool.

7/23/08

know a few people that work in the regional offices. base is 60k in sf and boston. bonuses last year and this year were slightly higher than street, believe it or not. hours also not as bad.

7/24/08

Hillarious. Mark Klein MD For Prez all da' wayyyyy

7/24/08

ideating and Alphaholic ... Mark Klein's statement is actually pretty accurate. I know a lot of analysts at Harris Williams and they are almost never pitching.

CompBanker

7/24/08

I have a friend who went there this summer. Smart guy but he isn't all put together. He did aweful in BB interviews and I guess once all the competition was out of the market he got a job there. That's kind of how I see the place.

BB scraps

7/24/08

No, you're mistunderstanding. It's funny because mark klein, be he parody or whatever, is actually providing solid information. No back-handed advice, no insult or snide remarks.

7/24/08

Shocking

CompBanker

7/25/08

Whoops. Sarcasm is hard to sort out on the internet.

mark kleinnnnnn

7/25/08

I know a few current and former HW guys, both personally and professionally, and it's a very good shop. Most of the guys I know still there are Assoc / VP now (know one Director), and I can tell you that pitch stat is darn near accurate, at least in true bake-off scenarios--I was actually discussing that very topic with one of them at an industry event just a few months ago. All the former HW folks I know are now either in PE or bschool, and at some very good places, too. There was that faction that split off from Cobblestone to do their own thing, but that's a totally different ballgame. Oh, and I don't recall if the retention bonuses from PNC have all paid out--pretty sure they have--but I know the attrition hasn't been nearly as bad as it could've been. Firm didn't really flinch, and is still full steam ahead, from what I've seen and heard.

With respect to the hours, their Analysts generally don't have it much if any easier than the kids up on the Street, believe me. Associates, maybe a bit better, though it's still pretty intense. VPs travel a little more than I'd like to, at least in RIC, given that few clients are truly local (though there certainly have been some). And no, you won't spend as much time pitching as you would at a lot of other places, but that sure as hell doesn't mean you won't work as hard.

On the pay side, San Fran gets the biggest premium for cost of living, Boston I believe gets a small premium, and Richmond at bottom. Think their first years get $50 - 60k salary or so, bonuses about Streetish or more in some cases. Their more senior associates and VPs on up do very well.

Anyway, long story short, it's a good place, with very smart people (that comment about BB scraps is completely ridiculous), and you would do well to be an Analyst or Associate there. Exit opps are very good, and you'll certainly learn how to run a rigorous sell-side process. In fact, in line with what numi said, rigorous is an understatement--we joke that HW just flies over a city and drops books out the window. That carpet bombing approach generally leads to rich multiples, however.

And no people, I don't work there, just know a few of the current and former bankers, and have a healthy respect for the firm (they're technically a competitor of ours, in fact, but we don't bump up against them that often).

Hope that sheds a little light for you (HW people please speak up if I misrepresented anything). Remember, though, I'm just one data point. Do your own research and good luck!

And as for the whole is-doing-mostly-sell-side-work-a-bad-thing remark, that's a topic for another discussion, but I don't really think so. Very difficult not to get pigeonholed one way or another (either product or industry) in this business, especially from the get-go.

<><><><><><><><><><><><><><>

Once more into the breach, dear friends.

7/25/08

good info, Indeed. do you know anything about which specific offices have the highest deal flow? I'm really interested in HW, and would like to know which office is their most active one.

7/25/08

I know PNC acquired Harris Williams a few years back --- is it just a loose affiliation or what (being that both have their own HR groups, etc)?

7/25/08

Gorilla, if you take a look at their recent press releases, most of the deals are being led out of the Richmond office. Not too surprising given that is the headquarters. My buddies in their Boston office are kept busy though, so it may just be a size thing.

CompBanker

7/25/08

Pretty sure all their offices are busy right now, but that's just a guess. The guys I know are all out of Richmond, and I know that office does well. Both the Boston and San Fran offices have been around a while--through ups and downs--so I feel like if they were incapable of generating adequate deal flow they wouldn't be around anymore.

And yeah, thus far the PNC relationship is arms length, from what I've seen and heard. I really don't know how much origination they've got out of it and vice versa. HW has their own HR, at least as far as their recruiting goes, so don't bother contacting PNC directly if you're looking for a job at HW.

<><><><><><><><><><><><><><>

Once more into the breach, dear friends.

8/31/08

Does anyone know what a post-mba associate pulls in at HW? I'm guessing its definitely below the street but how far and does it compare to DC MM firms like ACAS or Allied?

8/31/09

bump, I'm interested in any info on associates?

9/1/09

sf office. their base was on par with street. bonuses were a bit higher. hours were a hell of a lot better too. cant say it would be the same for associates. prob would be a tradeoff between lifestyle and pay.

12/18/09

Deal flow is strong across all offices; however, I think the deal flow is strongest in Richmond given it has the most MDs. As far as compensation goes they pay equivalent or higher than the street. I think base 70k for analyst, bonuses very comp. / equivalent to BB.

I've heard nothing but good things about the company.

12/18/09

talked to a director at a networking thing couple weeks ago...he said they are all sell side and the only buy side they do is advising regular clients from time to time (or something like that, sorry not the most expert on the subject)

12/18/09

Bad thing about HW is the location. Ew at richmond!

12/22/09

Read this:

IDD Magazine

Harris Williams Has Aspirations in Europe

M&A boutique filling London office with European pros to establish a beachhead, serve the middle market and expand into new areas

By Ken Tarbous
December 17, 2009

Middle-market investment banking boutique Harris Williams & Co. opened a London office as part of an effort to capture what it expects will be a pickup in European cross-border M&A activity.

The company joins other boutique firms like Moelis & Co. and Houlihan Lokey that have opened doors overseas to capture market share at the expense of large investment banks.

Thierry Monjauze, who was recently brought in from Deutsche Bank by Harris Williams, will spearhead the expansion. He is a managing director and head of the Richmond, Va., firm's European business.

The London office will focus on technology and new media M&A as well as other verticals, Monjauze says. Harris Williams has six professionals already working at the new location and it expects to grow that to a dozen by the end of next year. "As we build the office we will naturally think about the areas where we are strong in the U.S. We think most of the activity will be in Europe, and we hope that will be the perfect strategy," says Monjauze, a technology banker.

Supplemented by Harris Williams' 160 bankers in the U.S., the London office hopes to land more work in the areas of private placements, divestitures of businesses within public companies, as well as advisory assignments related to capital markets and IPOs.

It is common in Europe for independent firms to act by behalf of a company or its shareholders in helping select banks that are best positioned to help the company go public, says Monjauze.

London will be the seventh location for Harris Williams, a unit of PNC Financial Services Group of Pittsburgh that was started up 18 years ago.

In addition to Richmond, other offices are in Philadelphia, Minneapolis, Boston, Cleveland and San Francisco.

In its nearly two-decade history, the boutique has focused on the sell side and worked on a range of verticals, including industrials, building products, and transport and logistics. But the London effort looks to expand Harris Williams' reach both geographically and in its scope of business.

The boutique has closed deals in Europe since its inception in 1991 and has partnered with other firms when there was a local emphasis.

Monjauze, who has 14 years of investment banking experience, has worked in London since 2002, most recently as co-head of European technology investment banking at Deutsche Bank.

Born in France, he studied in the U.S. and received a master's at Stanford. Monjauze founded a software- and services-focused venture capital fund prior to joining Deutsche. He also oversaw the European software and Internet groups at Credit Suisse First Boston.

Monjauze says the boutique bank is recruiting and hiring only professionals who know the European landscape, rather than trying to transplant bankers from the U.S. to a new home.

"It takes a long time to get accustomed to the client base, the various cultures, the various regulatory cultures. Europe is many countries. I've seen people have trouble adjusting, and bankers go back to the U.S. If success is tied to knowing the private-equity groups and venture-capital groups, having worked in Europe makes a huge difference," Monjauze says.

The vast talent pool of professionals in Europe both displaced by the economic downturn and those looking to move out of larger investment banking firms has enabled the boutique to find bankers who fit well into its culture.

"We didn't believe that moving a bunch of Harris Williams people over there was the right move. We took people who are local and are seasoned and knew the market and it gives them the ability to grow something," says Harris Williams' co-founder Hiter Harris 3rd.

Other investment banking boutiques have sprung up in London and elsewhere in Europe as well as Asia in recent years, but the firm's founder is nonplussed by the competition.

"We probably couldn't have done this a few years ago when the market was hot. We would have found difficulty finding talent. With the market hitting the bottom, the talent available in the marketplace is unbelievable. We never could have attracted these talented people in a past market," Harris says.

Long-time Harris Williams client, private-equity firm The Riverside Company, has engaged the boutique on a number of deals in the U.S. and in Europe.

Bela Szigethy, Riverside co-CEO, says the move has been a long time coming for Harris Williams, but it will take some work to make the effort succeed.

"They're clearly one of the best middle-market buyout firms in North America. The one time they worked on an exit with us in Europe, on their own out of North America, they did an outstanding job," Szigethy says. "It'll be a challenge. There's a lot of tough competition in Europe. Starting from scratch is never easy. It will take a while for them to compete with firms who have been there for a while, including the local firms."

A major reason behind the new office is Harris Williams' expectation that the European cross-border M&A market is primed for more activity in the coming year. The firm's professionals see a lot of pent-up demand; capital on the sidelines needs to be put to work and business owners who held back from selling amid the height of the credit storm are ready to bring their companies to market.

"We really do see things improving both here and in the European market. We've been around long enough that we've seen four or five of these cycles in the M&A world," Harris says.

"Everything is getting more global, and the trend is growing for the middle market, where truly any company in the world can do a deal with any other company in the world. We think the London office is very material for us -- we've always had great global reach, but having our own people in London really gives us a launching pad for the rest of the world."

When it comes to advisory work in the U.S., Harris Williams appears to have been busy in the final three months of this year. So far this quarter Harris Williams has advised Barker Co. on its sale to Hill Phoenix Inc., a subsidiary of Dover Corp., and it also advised Sunoco Inc. on the sale of its retail heating oil and propane distribution business to Superior Plus Corp. Another mandate involved advising Yuba Heat Transfer on its pending sale to SPX subsidiary SPX Heat Transfer Inc.

Meanwhile, many market participants say they are not surprised that banking boutiques have made inroads or are looking to build a business overseas.

"We're seeing a trend. The bulge-bracket firms became global many years ago," says Stewart Kohl, co-CEO of Riverside.

With London as its beachhead in Europe, the firm has an eye to Asia and other markets.

"We're going to consider expansion past London, for sure, but we're focused on getting the office to a critical mass, a size that we want," Harris says. "I'm sure after that we'll consider offices in other geographic localities."

Find out more information about people mentioned in this article from our People Database:

H. Hiter Harris III
Bela Szigethy
Stewart Kohl

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  •  12/22/09

I feel that it is Tier I middle market, along with the likes of Stifel and uh...Raymond James, Piper, Wachovia. Definitely a good career choice if you're more interested in the middle market. I spoke with some of their people in Richmond during my summer interview process back in the day (along with a handful of other regional banks) - really nice guys and much more laid back work environment than NYC.

12/22/09

Middle market banks often provide you with a complete overview of M&A that you wouldn't find elsewhere. In terms of the middle market, Harris Williams is one of the best and viewed positively by PE firms.

12/22/09

Hey, Stifel Nicolaus recruits at my school, what does everyone think about them? How about A.G. Edwards? Are the hours lower at a MM/Boutique investment bank?

12/22/09

Any thoughts on Robert W. Baird & Co.'s IB dept? It's a middle market firm that I interned for this past summer and will be working for after graduation. The hours might be a little lighter than BB IB operations but its still investment banking so...ur probably at and going to and from the office more than ur at home. I really liked the atmosphere of the MM firm. But that's just one guy's opinion.

12/22/09

Interview Process: Standard Fit/Technical

Definitely be very enthusiastic about Harris Williams, they do not like people who are just interviewing with any ibank. Definitely have your story down on why HW vs. other firms. Talk to the people at the offices, cold call, show enormous interest and reflect that in your interview.

12/22/09

Dealflow is best at the Richmond office. There is a bit of a drop off, then comes Boston. San Francisco / Minneapolis still have decent dealflow, just not the mountain of deals that the Richmond and Boston offices process. The Cleveland and Philly offices are Cobblestone|HarrisWilliams, so they are working on generally smaller deals and the deal flow is not as strong.

Exit ops are generally the same universally. Harris Williams places amazingly well into MM PE.

~~~~~~~~~~~
CompBanker

CompBanker

12/22/09

Thanks for the responses guys. Does anyone have any info on compensation? How about other benefits/perks?

12/22/09

Compensation is street level or above street level. This applies to all locations, including those not in major cities.

CompBanker

12/22/09

...

12/22/09

Give it more than 18 minutes before bumping.

HW has a good rep on these forums. Strong dealflow (little pitching from what I've heard), hours are about the same as a bulge bracket, solid culture at the junior levels, pay is at or above Street, and as it has been quoted around here, when analysts look to go to the buyside, senior guys will "go to bat" and help them exit. They do a good job of placing analysts into top MM PE firms.

12/22/09

do a search, great shop, I know a guy there (this isn't just from the forums) and he speaks very highly of the shop

12/22/09

are there any other firms that "go to bat" for their analysts?

12/22/09

dude H&W goes to bat for their analysts

12/22/09

i know but what about any other firms? do those MDs not give a shit?

12/22/09

Only HW "goes to bat" for their analyst.

12/22/09

do they go to bat for all their analysts or just the best ones?

12/22/09

i duno they just go to bat, they place well into MM PE, those MDs will go to bat for you

12/22/09

I once interned for their competitor, H&M, and they didn't go and bat for me... H&W is better for batting

12/22/09

interesting...good to know for all those prospective monkeys out there

12/22/09

funniest dialogue I have seen in a while

12/22/09

How does it compare to places like Stephens/Edgeview Partners/Lincoln/Sagent?

12/22/09
Seuthes:

How does it compare to places like Stephens/Edgeview Partners/Lincoln/Sagent?

Harris Williams will compete with Edgeview, Lincoln, Sagent, and McColl. Edgeview, Sagent, and McColl are more focused on the southeast, whereas HW is nationwide and Lincoln is worldwide. Stephens is much larger ("full service") and I would hardly consider it a boutique.

12/22/09
Modern Day Yuppie:
Seuthes:

How does it compare to places like Stephens/Edgeview Partners/Lincoln/Sagent?

Harris Williams will compete with Edgeview, Lincoln, Sagent, and McColl. Edgeview, Sagent, and McColl are more focused on the southeast, whereas HW is nationwide and Lincoln is worldwide. Stephens is much larger ("full service") and I would hardly consider it a boutique.

Sagent is more focused in the southeast? What are you smoking?

12/22/09
Ricqles:
Modern Day Yuppie:
Seuthes:

How does it compare to places like Stephens/Edgeview Partners/Lincoln/Sagent?

Harris Williams will compete with Edgeview, Lincoln, Sagent, and McColl. Edgeview, Sagent, and McColl are more focused on the southeast, whereas HW is nationwide and Lincoln is worldwide. Stephens is much larger ("full service") and I would hardly consider it a boutique.

Sagent is more focused in the southeast? What are you smoking?

Sagent, like Edgeview and McColl, has an office in the South, whereas Harris Williams and Lincoln do not.

12/22/09
Modern Day Yuppie:
Ricqles:
Modern Day Yuppie:
Seuthes:

How does it compare to places like Stephens/Edgeview Partners/Lincoln/Sagent?

Harris Williams will compete with Edgeview, Lincoln, Sagent, and McColl. Edgeview, Sagent, and McColl are more focused on the southeast, whereas HW is nationwide and Lincoln is worldwide. Stephens is much larger ("full service") and I would hardly consider it a boutique.

Sagent is more focused in the southeast? What are you smoking?

Sagent, like Edgeview and McColl, has an office in the South, whereas Harris Williams and Lincoln do not.

HW is based in Richmond, VA, which if I recall correctly is still part of the South.

12/22/09

They don't go to bat for their analysts.

12/22/09

MDs... Analysts.... bats....

12/22/09

Lots of plate appearances, few hits

12/22/09

Harris Williams batted .400 in 2007. Definitely Cooperstown-bound.

12/22/09
12/22/09

Good shop - I had an offer FT but took a NYC offer. I have had a few buddies go through there - ended up at great MM shops with good experience. They work just as hard as some offices in NYC - but strong deal flow and a lot less pitching if you compare against other MM banks.

12/22/09

Sagent opened a Charlotte office last year, as well as Chicago/SF - ironically the regional offices are doing a lot better than the NYC office...lot of people have left NYC recently

12/22/09

Yeah I agree with you on the opening offices and maybe the Charlotte office doing better per banker basis because it closed a huge deal on Stanley.

Doesn't mean it's more focused there though lol I would say it's still more NYC focused and each office runs its own operation from what I have seen.

12/22/09

Harris Williams is definitely the only bank that goes to bat for their analysts. they are spending about $5 million on a new baseball park with automatic pitching machines just so their MD's can practice batting prior to going to bat for the analysts.

this gives them a huge competitive edge and monopoly in going to bat for their analysts. if u want bankers to go to bat for you, u'd be a fool not to consider Harris Williams, the home of those that go to bat for analysts.

12/22/09

ive heard that HW MD's have been accused of used PEDs while going to bat for their analysts in the early 2000s...they have since struggled with their average and thus their analysts no longer have great placement into the mega funds

12/22/09

they never placed into megafunds except as support roles like janitor and data entry clerk.

However this doesn't stop them from going to bat for their analysts. I heard one year an analyst didn't want to go to PE and told the managers there. He was swiftly assassinated and his body dumped into one of the many ghettos of Richmond, VA. You better not disrespect them since they are going to bat for you.

12/22/09

echoing the post above, H&W not only goes to bat, but will also pinch hit if the analysts are sup-par. They batted for analysts into some great middle-market firms, including left outfield partners, center field capital, and second base management venture partners LLP.

12/22/09

You guys are really struggling. These last few posts have really sucked... I think it's time to give it up.

12/22/09

i heard Harris Williams bats their analysts

o wai

12/22/09

I've heard them referred to as the Joe DiMaggio of the middle market.

12/22/09

does Harris Williams go bat for their analysts?

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IB Templates, M&A, LBO, Valuation.

Wall St. Interview Secrets Revealed

30,000+ sold & REAL questions.

Resume Help from Finance Pros

Land More Interviews.

Find Your Mentor

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12/22/09

I've also had really good experiences with them as well. Didn't work out, but easily the nicest guys on the street. Sounds about right.

12/22/09

No direct experience with that role myself (it didn't exist as a separate group at my bank), but whenever we had to help out with marketing presentations when I was in banking, it was basically putting together pitch decks with a general overview of our firm and market activity in general. It involved pulling a lot industry and deal data and making newsletters / presentations. My guess is you won't be working on any live deals, but developing HW's relationships with potential clients.

Not sure what the exit opportunities are for this type of role, I'll leave that to somebody that worked at HW to respond...

- Capt K -
"Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham

12/22/09

Drew Carey did fine there.

12/22/09
12/22/09

I hear they are good at going to bat for analysts

12/22/09

I know a few people who work/worked there. Great place and you're dead on with saying they're nice people. Always willing to help as well.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

12/22/09

I have an aquaintence who interned at GS over the summer between his first and second year of business school and turned down a FT offer from them in favor of working at Harris Williams. He mentioned a lot of things that I think you are witnessing.

While I did not interview at HW, I saw a lot of the same type of environment at William Blair as well. In fact, if WB had given me an offer I would have taken it above the 4 BB IBD offers that I recieved. WB also had a much more diverse group of people, at least in terms of their background. Many of the BB IBD folks came from the traditional banking career path (i.e. 2+2, B School, Associate, VP, etc) while the WB people came from all walks of life prior to arriving in banking.

One thing to note about HW.... Make sure you are comfortable with living in Richmond as that is where they are based. They also have a significantly sized office in Cleveland as well. While those places have some good things going for them, they are not banking/finance hubs.

12/22/09
FormerHornetDriver:

I have an aquaintence who interned at GS over the summer between his first and second year of business school and turned down a FT offer from them in favor of working at Harris Williams. He mentioned a lot of things that I think you are witnessing.

While I did not interview at HW, I saw a lot of the same type of environment at William Blair as well. In fact, if WB had given me an offer I would have taken it above the 4 BB IBD offers that I recieved. WB also had a much more diverse group of people, at least in terms of their background. Many of the BB IBD folks came from the traditional banking career path (i.e. 2+2, B School, Associate, VP, etc) while the WB people came from all walks of life prior to arriving in banking.

One thing to note about HW.... Make sure you are comfortable with living in Richmond as that is where they are based. They also have a significantly sized office in Cleveland as well. While those places have some good things going for them, they are not banking/finance hubs.

+1

succeeding at MM >> flaming out at BB

12/22/09

$500/month in rent also isn't bad (if you're in RVA)...

12/22/09
Slingin'CrackRock:

$500/month in rent also isn't bad (if you're in RVA)...

and every morning when you wake up, you'll be in RVA.

12/22/09
GorillaJuicehead:
Slingin'CrackRock:

$500/month in rent also isn't bad (if you're in RVA)...

and every morning when you wake up, you'll be in RVA.

Definetly true. The only time I would love somewhere like RVA is when I'm pretty much settled down and set to live life on cruise control.

12/22/09

You can get houses (5 - 6 bedrooms) in Chesterfield County for about 400K +. You could also live in the west end by Short Pump, where all the development is happening also...

12/22/09
StyleT:

You can get houses (5 - 6 bedrooms) in Chesterfield County for about 400K +. You could also live in the west end by Short Pump, where all the development is happening also...

Who would want to drive to and from bars? Live downtown. Also 400k in Chesterfield is like 1.5X what you actually need for a nice house there. None of the analysts I knew in Richmond ever, ever lived in short pump for more than a month before hugely regretting it.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

12/22/09

It's all about "the Fan" in Richmond, yo.

"An intellectual is a man who takes more words than necessary to tell more than he knows."
- Dwight D. Eisenhower

Check out my blog!

12/22/09
Vontropnats:

It's all about "the Fan" in Richmond, yo.

If you wear skinny jeans or are still in college. Live in the bottom if you have the cash.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

12/22/09
happypantsmcgee:
Vontropnats:

It's all about "the Fan" in Richmond, yo.

If you wear skinny jeans or are still in college. Live in the bottom if you have the cash.

Don't mean to hijack this thread into a RVA debate, but living in the Fan has many more benefits than living in the Bottom, one of them being the ability to heckle all the hipsters.

To add something for the OP, I have known many Harris Williams analysts. I think the place is great considering the analyst camaraderie, deal flow, exit opportunities and location.

12/22/09

.

Damn you Rodger!

My WSO Blog

12/22/09

I've heard good things about them and have spoken with the guys in the Minneapolis office. All of them were super nice, even the MDs. If I go back to b-school next year and have to pursue the IB route due to lack of PE opportunities, I would say that HW is one of my top choices. The draw back in my mind is Richmond, as it's far from the places where I know people and it isn't a big city...maybe more of a big town from what I hear...and I think you have to be ready to live that lifestyle otherwise you might be miserable.

Realistically, I wouldn't stay there too long (assuming I could jump back to the buyside eventually) unless I met the person I wanted to marry, then it wouldn't matter where I lived. And don't get me wrong, Richmond isn't a bad place to live from what I hear, I just don't know how excited I would be to go there over a decent boutique offer in Charlotte or Atlanta...just because I'm from the south, the pay wouldn't be much different, the cost of living would be comparable and it seems there would be more to do in Atlanta or Charlotte.

Ultimately, I think you have to do what makes you more happy. If that means living in NYC, then you could pick the "lesser" offer, if working at the "better" firm meant more, then you could pick HW and learn to like Richmond. You just have to be realistic about what you can handle. Most places offer a decent amount of things to do, especially if you have money, but you have to realize that those things won't be the same in every city, so in some places it might be attending professional sporting events or world renown art museums, in others it might be great outdoor activities or great access to historic sites/venues.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so."
- Ronald Reagan

12/22/09

How many kids who are clearly UR/UVA/W&L kids from Richmond can post here....come on guys

Clearly we all know River Road is the place to be...500k and you have a palace in VA.

As an analyst, live in the fan and then move to the west end when you are married.

That is all

Flying Higher and Higher

12/22/09

How many kids who are clearly UR/UVA/W&L kids from Richmond can post here....come on guys

Clearly we all know River Road is the place to be...500k and you have a palace in VA.

As an analyst, live in the fan and then move to the west end when you are married.

That is all

Flying Higher and Higher

12/22/09
FratStreetVA:

How many kids who are clearly UR/UVA/W&L kids from Richmond can post here....come on guys

Clearly we all know River Road is the place to be...500k and you have a palace in VA.

As an analyst, live in the fan and then move to the west end when you are married.

That is all

500k is a joke on River but it doesn't matter. Middle Management lives in the West End, Monument is where its at.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

12/22/09

Now every kid that reads this is gonna call them up since they're so nice and go batting, forcing the bankers to improve their doucheness to ward them off.

Good going

12/22/09

oh and they go to bat for you

Flying Higher and Higher

12/22/09

you guys are clowns

12/22/09

I just talked to my guy at Harris Williams. Not even trolling, he is extremely friendly. I want to work there.

"An intellectual is a man who takes more words than necessary to tell more than he knows."
- Dwight D. Eisenhower

Check out my blog!

12/22/09

I hear they really go to bat for their analysts

12/22/09

For what it is worth, you will 100% get a legit MM PE job out of here if you want it

Flying Higher and Higher

12/22/09

I got rejected from their two week training things for SAs...they picked douchy vandy guys instead. Just my luck. They seemed pretty nice though and from what I've heard they get to participate in all parts of the deal.

Great placement into PE. and I mean really great. BUT they were a wee bit boring.

12/22/09
mokey1234:

I got rejected from their two week training things for SAs...they picked douchy vandy guys instead. Just my luck. They seemed pretty nice though and from what I've heard they get to participate in all parts of the deal.

Great placement into PE. and I mean really great. BUT they were a wee bit boring.

-1

Vandy d bag here

12/22/09
ginNtonic:
mokey1234:

I got rejected from their two week training things for SAs...they picked douchy vandy guys instead. Just my luck. They seemed pretty nice though and from what I've heard they get to participate in all parts of the deal.

Great placement into PE. and I mean really great. BUT they were a wee bit boring.

-1

Vandy d bag here

Pleasure to make your acquaintance.

12/22/09

they go to bat for you

I didn't say it was your fault, I said I was blaming you.

12/22/09

I have a good friend that works there

business seems to be going well, we hear about them on the sell-side frequently

very fratty types of people, if thats your thing

also if you want to be the rich and laugh at your NY friends go for it...cost of living in richmond is a joke

12/22/09

I have a friend who went to a superday at Harris Williams Boston. He didn't score the position. After the interview, he gave his MD contact a call and asked for feedback. The MD took 10 minutes to describe tips and tactics to better prepare for the interviews. He also mentioned that the other candidates simply had more prior IB experience, and offered my friend an invitation to next years SA Superday. Talk about supporting analysts, IB hopefuls, and leaving a great reputation for your firm.

12/22/09

know a couple people working there and here's what i got..

  1. you can get into a MM PE fund, but pretty hard to get into a top MM fund like new mountain/advent etc.
  2. people are friendly, they actually treat you like humans (or well, sometimes they do)

Not a bad place to start your career if you aren't the ones that focus on the whole prestige thing. But it looks like if you want to stay in banking, you might like this better than bigger banks due to its people.

12/22/09

Wtf, how can every single person at the firm be a really nice guy? Something smells fishy here.

Competition is a sin.

-John D. Rockefeller

12/22/09

I did some interviews with them during my senior year, but dropped out of the process because i got a full time offer in Asia (where i want to be). I remember thinking during the interviews that Harris Williams looked pretty good though. Friendly, personal, and I like the mid market space because the people you are dealing with are more often the founders/entrepreneurs as compared to large corporates and state owned enterprises.

Go East, Young Man

12/22/09

I've worked with the Harris Williams folks quite a bit from the buyside - we've used them to sell a few portfolio companies and, like virtually every other MM PE firm, we have participated in a number of HW auctions. A few observations:

  • As others have mentioned here, they are a very friendly, collegial bunch. Getting on the phone or meeting with the HW guys is always a pleasant experience. And they all have slight southern accents, so that makes them seem friendlier.
  • They do top notch work. The difference between HW selling your company and Houlihan or some random boutique selling your company is night and day. From putting together the CIM through deal close they are on it and very client focused. They are also known for consistently getting great outcomes.
  • As you may have guessed from the previous two points, their bread and butter is middle market, sellside M&A. If you work there, that is all you will be doing. CIMs, buyer lists, summaries of indications / LOIs, and sellside pitchbooks. If this is what you want to do, great. If not, look elsewhere.
  • As far as exit opps, when I was coming out PE shops didn't get too excited about sellside experience at a MM shop because sellside M&A doesn't involve a lot of modeling from a buyside perspective (i.e merger consequences or lbo models). It's a lot more comps, DCFs, and buyer logos in powerpoint. But that was a few years ago. I know recruiting is a lot more wide open now, and the BB experience isn't quite the same as it used to be. I can't say you will come out a PE magnet as others in this thread have indicated, but you will get some deal flow there and that should count for something.
12/22/09

Glad to see that batting has been mentioned six times so far, because it's a crucial part of the analyst/exit opp experience at HW. First thing I did when I saw this thread was open it up, ctrl+F, and typed in "bat."

12/22/09

what are the odds of breaking into a megafund from a place like Harris Williams...even if they do go to bat for you

12/22/09

@AstonMartin:

0.00% chance. You will live like a rich kid in Richmond for 2 years making street comp at half the taxes/cost of living then have easy access to MM PE anywhere (although mostly NYC) but by then you'll have 100k in the bank....

Flying Higher and Higher

12/22/09

PNC owns HW, didn't know that http://www.harriswilliams.com/about/history

I wish HW had an office in NY. Hopefully they open one sometime in the near future. Though I wouldn't mind living in Boston or San Fran since they have offices over there.

12/22/09

RAY BANS???? I'm definitely working there if they give me $150 sunglasses for FREE!!!

12/22/09

Send em out with bats, Ray Bans, and a chunk of change-- ready for business. Awesome lol

"Harris Williams has seen a record number of applications this year...."

"That dude is so haole, he don't even have any breath left."

12/22/09

"Harris Williams bat batting bp batting practice private equity jobs md swing bats wooden baseball homerun grand slam the path"

Best tags ever? Possibly.

12/22/09

I have mentioned this before on a different thread, but I have an friend-of-a-friend who went to the same B-school as I did who works there. He interned at GS over the summer in NYC, received a FT offer, and turned it down for HW.

He loves it, regrets nothing, and has not looked back. Sounds like a great place to work, IMHO.

12/22/09

Also have heard great things about HW, one being that their deal flow has been relatively consistent over the past few years and that they have had nowhere near the amount of layoffs or pay cuts the BBs have had (this seems to be a consistent theme across all top tier MMs). And since so many analysts at BBs are getting axed right now, and since HW and other MMs pay just as well if not better, it's seeming like a better and better deal to go MM.

And don't bitch about exit ops to PE, I'd rather make 350k in Charlotte than 500k in NYC any day of the week.

12/22/09

And don't bitch about exit ops to PE, I'd rather make 350k in Charlotte than 500k in NYC any day of the week.[/quote]

$350 in Charlotte and you live like a king. Half a mil in NYC and you're still taking the subway. Hell, after taxes the take home pay amounts might be pretty similar....

12/22/09

Here we go again with happypantsmcgee

All the Virginian's start chirping

-long time batting analyst

Flying Higher and Higher

12/22/09

Wrong sport. It's all about golfing.

"Every man should lose a battle in his youth, so he does not lose a war when he is old"

12/22/09
RichardPennybags:

Wrong sport. It's all about golfing.

oh right, cuz you can't hit a golf ball with a baseball bat...

12/22/09

Front page. Well done

Flying Higher and Higher

12/22/09

I'm a sucker for perks...

When I get sad, I stop being sad and be awesome instead.

12/22/09
WWHD:

I'm a sucker for perks...

I see what you did there

12/22/09

I wanna work at H.W now. If I ever were to move to Boston it would be because of H.W. How is there SanFran office?

12/22/09

Yes there are quite a few.

This to all my hatin' folks seeing me getting guac right now..

12/22/09

Here to learn and hopefully pass on some knowledge as well. SB if I helped.

12/22/09
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My name is Nicky, but you can call me Dre.

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