An.1 PWP vs. Jefferies
Hey guys,
I’m thinking about PWP Fintech vs. Jefferies Tech for full-time since their replacement process is kicking off soon, and I could use some advice. I interned at PWP over the summer and worked a lot with the fintech group which I liked a lot. The culture there is super chill, but things seem kind of off now. I heard that one of the better MDs left after just a few months, though I didn’t really know him. The two juniors I worked with over the summer were amazing, but they both just quit, which isn’t exactly reassuring. The partner running the group is barely involved and people say he’s kind of a narcissist and doesn’t really know what’s happening day-to-day. The senior team doesn’t seem to be doing much meaningful work, and deal flow is basically nonexistent. If I got staffed on even one deal over two years, that’d be considered busy. Expectations are super low — heard about an analyst who barely did anything and still didn't get canned. That said, I now also understand they pay well and have strong total comp, which makes the idea of a low-stress job even more appealing. I had little exposure to other groups there so would appreciate any other insights on Healthcare , Consumer etc.
On the other hand, Jefferies Tech is a complete 180. It’s one of the sweatiest groups on the street, known for insane volume and a brutal workload. But they do real deals, and the senior team has a solid track record. If I go there, I know I’ll be working crazy hours, but I’d also be getting legit deal experience. What I’m not sure about is how the brand stacks up for exits or if the grind is really worth it.
So, here’s where I’m at: PWP would give me a low-stress, easy ride, good pay, and strong comp, but with little real experience. Jefferies would be intense, but I’d actually be doing meaningful work and getting exposure.
Anyone have thoughts on exit opps, brand rep, and overall career impact between these two? Would you take the chill route at PWP or suck it up at Jefferies for the experience? Appreciate any insights!
How could you have 2 offers at the same time
From the looks of it he accepted his return offer from PWP but is thinking of reneging for Jefferies. I would go Jefferies if the situation is as bad you say it is. However, I think you shouldn’t make a decision before reaching out to the people that left the team and seeing what they say about these opportunities. Even if you weren’t friends with them, it doesn’t hurt.
PWP. Especially if you know the team and the culture. As long as there is enough flow.
Jefferies has terrible culture. Marginally better MM PE exits but no worth your mentail health.
I agree with you the culture is awful at JEF but when you’re a banker bad deal flow is the kiss of death and the PWP senior mgmt team can be brutal when things aren’t performing for a while. If you’re the kind of personality with thick skin, go with where the deals are.
Can’t you just network for another group for full-time for PWP?
You can also just go do on - cycle and coast for two years. Know a couple people in lifestyle groups at other banks that did that and no one really regretted their decision.
Go to fintech 100%. You’ll still be able to exit to thoma bravo or wherever lol.
PWP FinTech gets my vote. Much higher pay, strong enough name that you can easily lateral if you want to stay on as a banker, and strong exits (lots of UMM Tech funds and they just had an analyst leave prior to finishing his 2 year stint to Thoma Bravo).
Right, but this analyst was super talented and got pretty lucky, especially since he had to recruit without any real transaction experience. What’s the risk of finishing two years as an analyst with zero deal experience? I’m not really into doing a ton of marketing work and willing to grind for the next couple of years.
Go to PWP. Jefferies is a better group from a dealflow perspective but few groups at Jefferies have reputations that have “caught up” to the dealflow. Might literally just be energy. So exits will be better from PWP, and comp will be meaningfully better.
Take PWP please. Jeff Tech is absolute sweatshop and has horrible culture. Know someone who was there for close to 9 months without touching a model and was literally doing admin work for like 100 hrs a week lmao
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