Pay above street? Work more than BB?
Does anybody know the recent and historical story on pay at good, smaller shops (blackstone, lazard, greenhill, evercore, moelis, houlihan lokey, centerview, rothschild, etc. etc. etc.) compared to the street.
I am particularly interested in Lazard, Moelis, Evercore, and Greenhill. Does anyone also know how long people work at these 4 shops versus most BBs?
I know that this has been discussed before, but I'm sure things changed a lot recently, so I was wondering if anyone had an updated story on this.
Thanks.
You can expect that you will work at least as hard as in the hardest BB group, if not harder. Base pay will be street or above, and ALL bonuses will be as high as or higher than the highest BB's top bucket (generally speaking, that is not the case for all the banks you mentioned).
I've heard from sources that Houlihan pays horribly.
The others pay well (street or above)
Source: both direct and indirectly from current and former analysts
You will get crushed at Moelis and Lazard (especially Moelis). Evercore will work you similarly to a BB; Greenhill probably less than a BB.
Base pay will be same/better than BB; bonus will probably be equivalent to top, top bucket at a BB.
She when you say "crushed" what do you mean in specifics? I have an offer at one of Lazard/Moelis/Evercore/Greenhill and a final round interview at another, and a good friend is in the same situation. I definitely have an interest in knowing specifics if anyone has that.
"Crushed" means you will work 'till 1 or 2am four nights a week, 12am Friday night, and 8-10 hours on both Saturday and Sunday. And that would be a standard week (could be better or worse). Lazard and Moelis are known to be like this, Greenhill is known to be a bit better, and I'm not sure about Evercore but I'm going to guess it's like Lazard/Moelis.
Basically... these places are absolute SWEATSHOPS.
reading your post makes me depressed.
getting "crushed" at my bb group means having a string of 4/5am nights. i can only dream of being able to leave at 1am on a consistent basis
Evercore is worse than a BB in my opinion in terms of hours, just not to the extent of Lazard/Moelis.
For Moelis, based on the people I know there, I'd add that two of your weekdays expect to reach territory of 4 or 5 AM on average. The key to survive there is to rapidly learn how to say no or push back on deadlines (although you'll still be working terrible hours) while not crossing the line.
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I guess when I speak to people at the firms before making my decision I will try to see what they have to say about hours as well. Thanks for the help!
The people I knew at Greenhill said the hours were better than BB but obviously still working IB hours. Lazard has a rep for running people into the ground as far as hours. There have been a lot of posts on here about Moelis' hours being bad too, might try searching for the old posts.
It really depends on with whom you work... you will be screwed up especially when you work even for 1h with those who are bad tempered and under pressure but above you unfortunately...
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