Lazard, JPM, BCG help choose

Considering the NY offices of these firms?

Which would you choose? I'm interested in finance and in business in general.

Which would maximize long term opportunities?

I think it should be easy to eliminate one of the banks at least, which one?

 

Camondo, I'm pretty sure he has offers from all three, considering how late it is in the process. This general topic is covered pretty frequently, and the answer is the same; it's a personal choice, depending on what you want to do and what sort of culture you like. If you plan to stay in finance, Lazard is better, but that doesn't mean you can eliminate JPM, considering that Lazard is notorious for its culture; if you liked the fit when you interviewed, then that's good, but otherwise, caveat emptor. If you plan to go to general business, the JPM name will have better cachet than Lazard, but BCG would be best of all. I'd suggest you think about where you want to be in 5 years, and maybe even 10 years; consider what is important to you in a job and in life; and then put together a pro/con list for each position in terms of how it helps you meet your long-term goals, and how it would satisfy each aspect of a job that you identified as being important to you.

As an aside, please note that topics like this belong in the "Get a Job" forum, not cluttering up the IBD forum.

 
Best Response
openOutcry:
While Lazard does have quite the reputation, I have heard from people at megashops (KKR, BX), that sometimes people prefer analysts coming from larger shops like GS/MS/JPM rather than pure advisory shops. Congrats on the offers, you really can't go wrong with any of them.

Sometimes, sure. Most of the time they prefer the kids from Lazard over those from 140+ analyst classes like at JPM.

 
DontMakeMeShortYou:
openOutcry:
While Lazard does have quite the reputation, I have heard from people at megashops (KKR, BX), that sometimes people prefer analysts coming from larger shops like GS/MS/JPM rather than pure advisory shops. Congrats on the offers, you really can't go wrong with any of them.

Sometimes, sure. Most of the time they prefer the kids from Lazard over those from 140+ analyst classes like at JPM.

I know on this forum, the consensus asserts that, but based off personal experiences with people at both these firms, I've been told they prefer candidates from larger shops. Purely anecdotal, but for those shops and certain offices (which I won't state here), it is definitely 100% the case.

 
RedHill:
JPM M&A > Lazard M&A simply b/c you get more deal experience

Do have any idea what you're talking about?

The biggest sell point for boutiques like Lazard is that you will get more exposure and responsibility on live deals. On the Cisco-Tandberg deal, two Lazard analysts did all of the modeling. You will not find such lean teams at any BB for a high profile $3B deal. Of course, Lazard analysts also get worked to death, but if you can handle the workload it is definitely better "deal experience" than a BB.

 

I won't say one is better or worse than the other. The experience will be different.

The volume of deals you will see at JPM M&A will be greater. This is because at Lazard, you'll be more involved in the transaction and see the entire thing through. You'll have to do industry pages, build all the presentations, etc. Whereas in M&A at JPM, you'll just be focused on the financials and modeling. You'll also spend less time pitching at JPM, as your purpose will be to focus on execution and let the industry groups pitch. However, at Lazard you'll get better experience on how to run a deal from start to finish.

Another thing to consider is that at Lazard you will be put into an industry group and only learn to model their specific metrics. At JPM, you will model across all the industries.

 

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