You always hear about top EBs and Boutiques on the street for coverage groups, M&A, and restructuring which is technically more of a product group than a coverage group. Haven't been able to find much, but was wondering which EBs or Boutique shops are best in DCM, Structured Finance, and ECM. And how their pay stacks up against their peers in the coverage and m&a groups.
Trending Content - Investment Banking Forum
| +442 | Don’t work at UBS - UBS Sucks | 41 | 12h |
| +329 | Article - UBS’ Investment Bank Keeps Losing Ground | 41 | 5d |
| +199 | Should My Intern Get a Return Offer? | 56 | 11m |
| +64 | When to Leave Office as Intern | 8 | 6d |
| +56 | F*ck it I'm Going to Med School | 19 | 2d |
| +50 | Getting Laid in IB? | 27 | 23m |
| +46 | Would you rather be a Touse Squid or a Bouse Mogger in IB | 3 | 10h |
| +45 | Living in greenwich as an analyst? | 9 | 1h |
| +32 | STEM student lost in London IB recruiting | 19 | 7h |
| +27 | NYC Associate Budget | 9 | 21h |
Career Resources
Interested as well. At the bank I interned at, cap markets is under ib so they get the same base (85k). Wondering if anyone can share specific numbers the differences in bonus.
I don’t know of any EB’s with DCM or Structured Finance teams as almost by nature of their value proposition they don’t lend to clients from their balance sheet. That said, EB’s will advise clients (usually through their M&A teams) on debt raises or bond offerings especially as the private debt market has grown to the extent that corporates and sponsors may be less reliant on bank financing. I know some of the EB’s and boutiques do have ECM teams - I know Evercore does and I know that many boutiques do, especially boutiques focused on Healthcare (e.g. leerink)
yeah I know Structured Finance will be harder because they're more B/S dependent, but figured a firm like Evercore could probably accomodate if they wanted to.
*SVB Leerink now has DCM capabilities with the silicon valley bank acquisition
Evercore's ECM has seen incredible growth the last couple years, same base pay as M&A. Their DCM and ECM have poached some top senior talent from BBs. The analysts have been working a ton there lately so would assume bonuses will be strong too
If you look at EVR's earnings releases, seems like their cap markets team is really pulling a ton of weight for the firm (triple digit growth due to COVID) so this year, their bonuses are pretty guaranteed to be great
I don't really know much about "rankings" because the idea of independent CM advisory is so nascent. I will say, as someone at an independent platform that is all-in on the idea of CM advisory to complement M&A and Rx, it has been going gangbusters and I really encourage anyone currently in CM to consider jumping platforms. Our team sits next to the corporates and walk through capital raising options, then run bake-offs and advise on creditor, underwriter or book runner selection, forcing competition between underwriters and the large credit funds. It's really interesting, especially in a post-covid era where it isn't just up and to the right all day everyday. CM here is basically in line with M&A in the sense that, we don't need to crank CM deals to feed the beast the way JPMorgan or Citi does, so the work usually focused on more complicated situations than vanilla raises. As far as comp, it is the same as M&A. We do not, as far as I know, hire into these groups out of undergrad (though generalist analysts will work closely with them) and usually look for prior experience.
This Moelis? Know they've made a bunch of hires recently.
Can I pm you? Interested in learning more
Where do people exit to?
Top CM teams are within BBs for some of the reasons listed above (B/S etc.)
Ofc they are. But I'm not talking about top CM teams in general. I'm talking specifically about CM teams at EBs/Boutiques.
check out lazard capital structure advisory. dope group
Can you elaborate on this group?
their website is pretty exhaustive
Not sure how people normally categorize it but Guggenheim does pretty at esoteric structured finance. Not sure abou pay.
Guggenheim is big into structured credit trading/investing. Haven't heard much on their cap mkts business within structured credit.
They do pretty well on the capital markets side for really esoteric ABS but unsure on CLOs and don’t really see them on more on the run securitizations. They definitely do a bunch of data center deals, some MCA, some whole business, and then they’ve done some oil and gas and diamond receivable and music royalty deals.
Anyone know anything about Evercores debt advisory?
Got same base pay as M&A in junior years, and separated from the restructuring arm, do refinancings, acquisition financings and recapitalisations mainly
Anyone know if the typical exits are available to capital markets analysts at EBs (lazard specifically)? Looking to get into a hedge fund afterwards
Bump
bump
Reprehenderit dolorum eos voluptas quia consequatur modi. Incidunt dolores qui illum facilis asperiores.
Soluta sit libero iure et accusantium soluta iure occaecati. Et illum libero ullam quod saepe sed. Sunt quia quia assumenda.
Rerum rem et et culpa sit tenetur. Molestias sit nesciunt pariatur veniam labore ea. Doloremque voluptatibus commodi in sunt et modi eligendi. Et eum ullam consectetur culpa aliquid. Et odio assumenda est eos explicabo repudiandae tempore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Cupiditate vel eaque voluptatem eius vel tempora cumque omnis. Autem animi rem veniam exercitationem quo qui eaque. Quia eos totam iure enim dolor sit laboriosam ea.
Libero consequatur animi eos inventore temporibus vel. Quasi natus voluptates vel impedit dolores.