Centerview 2020 Performance -- WSJ Article -- Thoughts?
Article came out this morning, curious on everyone's thoughts.
WSJ reporting CVP revenue of $1.3 billion this year... That's way more than Moelis' ~$750m and PJT's ~$900m with only 60 partners and 350 employees.
Average fees per partner > $20m. How do they do it?
https://www.wsj.com/articles/centerview-resists-lure-of-record-ipo-market-11608719401
By working their analysts till 3am 7 days a week.
CVP analysts are busy but no busier than your average EVR or PJT analyst. #fakenews
I just tried networking with a CVP analyst and he responded to me a 3:40am, the poor guy
Is CVP actually a sweatshop?
I got shit on a while back for what I defined as an "elite boutique" and hopefully this puts the debate to rest... CVP and EVR are men amongst boys (PWP, Greenhill, PJT, Moelis).
***fully expect MS incoming
It depends on your role. From an analyst perspective, it would be silly to not call PJT an "elite boutique" as it has the best exits on the street currently. Analysts don't really care about league tables or average fees per partner since bonuses are pretty similar regardless (yes CVP pays more, but EVR doesn't compared to PJT/PWP/Moelis, etc)
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Actually kid, I rejected PJT. No regrets. I already did my time on the Street, and I'm now in the VC-backed start-up C-suite.
Anonymous Intern after you finish your degree from the University of Phoenix and get a back operations office job at RBC, you can come back and brag here about working on Wall Street. If you ever get laid off, you can continue attending your MAGA rallies and you still have that fall back option going for you - your mommy and daddy's front yard selling popsicles for a living and jerking off PJT and WSO during the night time.
EVR will have double the revenue with double the headcount in 2020 when compared to PJT. And PJT is going to double it’s revenue YoY while EVR is flat. Quite frankly, using your metrics, Liontree, M Klein and Dyal are better places to work than EVR. Just obviously a dumb way to judge these firms.
That said, CVR is a top shop with some awesome relationships in certain verticals and clearly have the whale hunting model down in a way we haven’t really seen elsewhere across the street. The juniors pay for it, but the firm also pays them so it’s a trade off. But not sure there is a better firm to go to if you want to focus exclusively on large cap advisory and M&A.
Do you think Liontree, M Klein and Dyal are not good places to start a career?
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