C&R

Based on the most helpful WSO content, here’s a breakdown of top Consumer & Retail (C&R) groups on the street, including insights into tiers, culture, hours, and hiring:

Top C&R Groups and Tiers

1. Elite Boutiques (EBs):

   • PWP (Perella Weinberg Partners): Known for being very strong across Food & Beverage, Beauty & Personal Care, and especially Tobacco & Cannabis. Exceptional culture with a "no-asshole" hiring policy.
   • Lazard: Strong presence in the C&R space.
   • CVP (Centerview Partners): Also highly regarded in C&R, particularly Tobacco & Cannabis.
   • Evercore: Focused more on alcohol and restaurants, though their coverage is broadening.

2. Bulge Bracket Banks (BBs):

   • BAML (Bank of America Merrill Lynch): Mixed reviews. The C&R group is noted for having "LOTS of work, and not in a good way," suggesting a challenging work environment.
   • Goldman Sachs (GS): The C&R group has a "work hard, play hard" culture with chill people, though hours can be intense.

3. Other Notable Mentions:

   • Moelis and PJT: Strong in media & entertainment and travel & leisure, which can overlap with C&R in certain contexts.

Culture and Hours

• PWP: Analysts have reported not being screamed at during their tenure, which is rare in the industry. The firm emphasizes a collegial and supportive environment.
• BAML C&R: Known for heavy workloads and a less favorable culture compared to other groups.
• GS C&R: Offers a mix of intense work and a more relaxed, personable team dynamic.

Bonuses and Hiring

• Bonuses and compensation vary widely across firms and depend on deal flow and group performance. Elite boutiques like PWP and CVP are generally known for competitive pay.
• Full-time hiring is common, especially for strong summer analysts who perform well during their internships. Networking and demonstrating a genuine interest in the C&R space can significantly improve your chances.

If you're considering re-recruiting or targeting a specific group, focusing on culture fit and long-term alignment with your career goals is crucial.

Sources: EB C&R Groups, Jefferies 2022 Outlook, Banks with best cultures, Good questions to better gauge culture and longterm fit of a startup PE fund?, Jefferies SA 2023