How would you rank these? Lets say you are interested in both PE and HF.
And just to add, this is for SA. One of these is an offer and two are superdays. All offers are generalist but I have multiple senior alumni who pushed for me in said groups.
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GS Fig >> Laz >> MS P/U
I was thinking Lazard would be on top since it's generalist?
GS FIG has had the best exits out of any of the GS IB groups, it's easily better than Lazard
I see you've been through the GS FIG process - can you tell me more?
If you haven't, you should probably just close that yappy mouth of yours.
GS TMT much?
Goldman > MS > LAZ
P/U is the best coverage group at MS. If you can get it, take it over Lazard.
I would actually agree here if it is Lazard generalist (if it was restructuring or another top group I would put that above MS).
That said, even if said alumni in those groups pushed for you, you will still have to go through the placement process like everyone else in the spring- pretty certain that they cannot guarantee you group placement this early.
I'll expand this and go into detail a bit more about each of the 3.
GS FIG- up with TMT as top group at the firm in terms of exits. Massive group, and I've seen much more leave for HFs vs. PE, but I'm sure both routes are very possible at a top level. Fairly rigid culture, but nothing particularly unusual. Group is broken into verticals, and you don't interact much with those outside your specific vertical- (to the point where you might only 'know of' someone in the same office and in FIG but who works in another sector). This is as a result of the group being so large, even compared to other FIG groups on the street.
MS P/U- As was said earlier, on the east coast (ignoring West Coast Tech), probably one of the strongest industry groups at the firm. Placement is worse than M&T (though placement in that group is declining), but still places very solid to Upper MM PE (including infrastructure and energy funds) and top tier HF as well. Known in the firm for having a phenomenal culture and also being one of the larger groups.
Lazard- really depends on the group and cultures vary group to group. Firm on the whole is known to have a particularly rigid culture. Exits are superb, though, particularly from healthcare and restructuring, though TMT exits are also strong. Restructuring as would make sense is lots of exits to distressed funds.
PM me if you'd like- almost joined 2 of these groups and know a pretty good deal about them
Thanks for the offer but I can't PM yet. Do you mind PM'ing me? I can still respond.
if you are up for 2 years of FIG take GS, otherwise Lazard. Surely you will get good placement from all of them in any case
It depends on what your idea of "better" is. There is no arbitrary standard. TMT (and CRG) put multiple analysts into the MFs perennially. FIG doesn't put as many into MFs, but there is consistently strong FIG PE placement and stellar HF placement. Many analysts don't wait to finish their two-year program before leaving for their HF exit. I imagine this will only continue now that the 2013 and future analyst classes don't have the contract. This leads to a lot of lateral hiring (recently Citi FIG, UBS FIG, Miller Buckfire, McKinsey, etc.) and a fairly frothy turnover rate. Add that to the fact that the group (as others have mentioned) is very large, and it may not be the ideal analyst experience that most people are looking for.
Arbitrary ranking is always pointless, but given what you have on the table, I'd say the informed decision would be made based on your career interests. If you want PE, you aren't going to get ignored at GS FIG. Headhunters hit you up consistently, even as an SA (they want to put you in front of the MFs for their full-time analyst programs [KKR, TPG, etc.]). GPUG at MS has a solid culture from what I gathered during the undergrad recruiting process and from friends I know, but I don't know that much about its placement. Lazard is never a bad name. They do well in PE, and the restructuring guys have sick opps all across the buy-side.
In short, if PE isn't your strongest interest, GS FIG or Lazard (push for restructuring) is a wise choice. If you want PE, I think GS or MS might be wiser given that the headhunters always go straight to those two firms knowing that's where the strongest candidates tend to be concentrated.
Another thought would be to get some of these offers and push for a Blackstone interview (either M&A or R&R). The firm hosts a fairly hush-hush accelerated process for summers that usually launches right before Thanksgiving. If you go to one of their targets (Harvard, Wharton), reach out to alumni. If you go to one of the other schools they take 1-2 candidates from a year (UMich, Stern, UVA, Columbia, Duke), also try. Placement out of either of their banking groups will be stronger than any other group on the street.
They love to poach top candidates from GS/MS; if you can't get the summer offer, stay in touch over the summer and make sure you get an interview invite by the last week of your internship. Each group interviews dozens of candidates at the end of August.
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