CS/Barcap LA vs Guggenheim NY vs Ducera Rx vs HLHZ M&A NY
Currently sitting on these offers for SA at the moment.
I don't know if I want to do career banking or go the PE/HF route. I want to keep my options open. Location doesn't matter for me, I like NY or LA equally.
Would appreciate any input.
Correct me if I'm wrong, but CS LA is the gaming/lodging group and BarCap LA is FSG and TMT? Personally It would be a toss-up for me between those two.. with HLHZ coming in at a close second. If you're unsure about whether or not you want to stay in IB/PE/HF... the bigger names can't hurt.
If HL is for RX, I think that's a no brainer. They have top notch exits to both distressed and non-distressed funds and its probably the strongest one here. Also heard they have a fantastic culture.
If HL is M&A, I would probably take CS LA. I heard its rough but you will get really good exits especially if places into their sponsors group. HL M&A, while still good, I believe does purely MM deals.
I agree with the poster above. If HL is RX take that obviously. HL M&A does pretty much only MM deals but they are comfortably the top bank in that space and have good relationships with their MM PE clients. This gets analysts there good MM exits but not to the extent CS LA would.
So if HL is M&A, I think CS would be the best pick, especially if you can get placed into their sponsors team. However, CS LA is known to have a terrible culture and works analysts exhaustively.
Guggenheim is a great bank and works on some amazing deals and also has decent exits.
Curious to know what Ducera was like? What was your impression of them?
CS LA is known as one of, if not the best shop in LA. You will have great exists.
That being said the culture is known for being completely terrible. My brother worked 46 hours straight a couple different times last summer.
First of all, congrats on all your offers - you definitely have some great options, and in the big picture, I don't think you could go wrong picking any of them. With that said:
If you're aiming for pure exit opps, I would definitely aim CS LA given your choices - unsure of the culture right now but had a friend way back who interned there and went elsewhere for FT (a comparable firm) because he was getting crushed. But that was around 2012-2013 so unsure how it's like now.
Barclays LA is essentially a LevFin/Sponsors group run by former CS LA senior bankers (way back, a bunch of CS LA people jumped ship to Barclays), and they do a little but of real estate / gaming on the side. Unsure of the quality of exits but I've heard from third party sources that they have one of the best cultures among the West Coast BB groups.
Unsure about Guggenheim - they seem to have a lot going for them (recently were the lead advisor on the Pfizer/Allergan deal) but can't comment on culture - I've seen many analysts lateral after a short period to other EBs/BBs (I believe there was even an analyst that left to Evercore after just 6 months).
HLHZ M&A is decent for what they focus on (essentially all MM deals) but keep in mind that they are clearly treated as inferior to the RX team (based on 2 of my friends in the NY M&A office there). I believe there is even a separate dining stipend for the RX team vs. the M&A team (RX gets more)...
Hope this helps.
HL M&A is not necessarily inferior by any regard. I think it's only perceived that way maybe internally just because the their RX team is one the top groups on the street. However, compared to other MM M&A group, which is the real comp set, HL's is by far the best.
I would add that you should definitely go to a place that has a mix of good culture and exits. Banking is a physically and emotionally taxing job as it is without the extra burden of dealing with asshole bosses.
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