Province Firm
Is this a good place to be as an analyst or no? How are exit opps?
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Based on the most helpful WSO content, Province is a niche restructuring and advisory firm. While it may not have the same brand recognition as larger investment banks or elite boutiques, it can still be a solid place to start your career, especially if you're interested in restructuring. Here's a breakdown:
Pros of Being an Analyst at Province:
Exit Opportunities:
Considerations:
If you're passionate about restructuring and want hands-on experience, Province can be a good starting point. However, if you're aiming for broader exit opportunities or a more prestigious brand, you might consider lateral moves after gaining some experience.
Sources: Breakdown of Post-IB Exit Opportunities, Restructuring prospects, why you should not consider restructuring, A Few Observations on Investment Banking Exit Opportunities, Reputation of Union Square Advisors, FT Partners, and RBC?, Top firms for distressed investing. Solving for brand and deal experience more than ability to growth within the organization.
Not a bad place, if you're in their RX group, then that's really good, they're a tier under the FTI / Alix / A&Ms, but good dealflow (albeit very UCC heavy). Good comp, used to be ridiculously high in the past under the old comp structure but now that's not the case I believe. Lean teams so if you like the culture you'll love working there but if you don't it's gonna suck. Exit's aren't bad, but you'll have to get out there and market yourself, it won't be handed to you (given it's a really niche firm)
Everyone does merged work/tasks OCFO, Special Committee, Windown, Litagation, trustee...etc. there is nothing besides the RX group...
They do a limited amt of OCFO services I thought
Firm is quite niche, generally the success measure here will be seeing how the Intern -> FT -> Exits will be. Do not see many exits generally and RX CO typically is a place you stay. See on linkedin they had a decent sized intern class so imagine they will have a big incoming analyst class barring reneges (would be insane if a firm like this did not give 80%+ returns). Seeing the performance recruiting buyside should be indicative of how firm trajectory will be going forward regarding exits. My firm personally has not looked at anyone from here.
What firms do you / your team look at?
Unique firm in the sense that we are quite involved post the initial Headhunter screen...quite honestly very few RX CO candidates come to us through the headhunter intro/interview channel. To comment on firms we do look at/prefer. Most RX IB candidates come in very strong compared to others we interview ie. HL guys are quite sharp same as the occasional Miller Backfire, Greenhill, Guggenheim. We do not get many inbound from the RSSG or EVR class but have a few alumni from those teams, top BB groups and MM's make up the bulk of candidates we receive. Have had a few FTI on the RX CO side and that really has been it, doesn't seem to be a very large 2+2 culture in that space which is why I see so few I imagine.
Was very impressed by a kid who interned there his soph summer. Decided to check the incoming class and almost every intern is not returning. Pretty shocking, maybe a lot of non junior summer kids there?
Buyside recruiting also seems poor, have not seen anyone trained from Province.
Agreed. Interviewed a former employee there, and they were extremely sharp. Got into the standard tell me about yourself and your past work questions, and they brought up that the firm was on a hiring spree a while back, but once they hired to where they were happy, they started cutting down aggressively on hiring, to the point where intern return rates were also slashed down.
Also, the person we interviewed didn't even have Province listed on their LinkedIn. Not sure if it's a company policy or something, but thought it was pretty interesting. Just had it on their resume. They ended up at a diff investment firm so it worked out, but interesting that recruiting is poor. Maybe smaller shops don't have too much traction w. the buyside?
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