DC Advisory US - Good MM?
They ranked top 25 Vault in the last 2 years and seem to have a solid deal flow, cultures, and growth trajectory. Any thoughts about the firm? Thanks!
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Lol
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They recently started the infra team there - following on from the european team successes - i know a few analysts from LDN are going to NYC
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That is incorrect. They are Ranked #17 overall by Vault currently. They are also #3 for W/L and #11 for Comp. I know several people that work there and they all sing praises except for the lack of brand name on the Street.
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You are looking at the prestige list where they are unranked, not the overall list, where they are 17. All I'm saying is that I would always pick the tangible benefits of better comp and W/L balance over some amorphous "prestige" that I feel like every analyst and intern obsesses over. After you’re engaged and have a few bonuses in the bank, the whole “prestige” thing really doesn’t matter if you’re good at your job and can prove it.
There’s literally no way they’re 17.
Decent LMM firm, nothing special though.
They actually are somewhat unique insofar as they're the IB arm of a massive commercial banking enterprise but they actually have a real M&A franchise and aren't just doing IG Bond issuances for other huge banks with minimal M&A activity, as is common for the IB arm of large commercial banks.
So kudos for that, but yeah, agree with everyone else they aren't like anything wildly special. Just a decent MM bank that seems to be making a concerted effort to up their standing in the world.
Similar to a Solomon Naxitis (or however you spell it) except I’d say Solomon generally has a more built out practice
DC is known for the longest hours in Europe and is 3rd in your country for W/L Balance??
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i think moelis bankers were too jaded when they were filling out the surveys
I worked in London office (albeit left a few years ago). For all teams bar infra hours were very chilled relative to my peers in BBs. Infra grind hard, despite that everyone in the team seems to love it. Pay wasn't great but that reflected the hours.
They’re a good firm, I would bucket them as a regional lower MM in the U.S. Great place to start a career if you have an offer You’ll get some reps but if you eventually want solid exit opps, you’ll want to lateral over to a more prominent bank.
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Do you even understand the distinctions between regional vs mm? Lol
I would second this - just looking at their website it seems most of their tombstones are cross-border, so I’m not sure that regional is the best descriptor.
Their deal flow is good because of their international presence and growing US presence. They have solid leadership with good contacts as well. If you want solid M&A reps in the LMM/MM area and don't want to pick a coverage group immediately as a FT analyst (both SA and FT analysts are generalists), then they are a firm you may want to consider. Also, the people there seem to actually like each other and it seems like a pretty fun culture.
But again, they aren't an EB or close to that yet in terms of prestige. However, you can certainly exit to solid MM PE shops if you choose to do that.
Completely agree. Are you an incoming 2024 SA there?
No just talked to a good amount of people there. Their recruitment timeline is super late compared to other firms. They are probably going to start first rounds in mid-May.
MM PE? Is that actually a joke? LMM PE is probably a huge stretch. If you want MM PE from DC you better be the best analyst in your class with a dad who works at the PE shop
I mean LMM is probably more reasonable but generally the analysts that want to exit to PE typically end up successfully landing a gig in the CMM/LMM area. Of course it’s hard to say whether it’s because they are top performers or not since retention is weirdly high at DC Advisory after 2 years.
Work at UMM PE shop. They have literally not once been invited to pitch to us and we have brought in dozens of banks over them (Truist, Stifel, Lincoln). Had buddies who worked there and went thru their entire analyst stint without being on a closed deal. Seems like the only exit opp is to another bank. Hours can’t be more than 70 tho
Do they pay street? Their glassdoor says TC is 145k
Pay is street per a friend of mine who just did A2A there. They pay above street in London.
Pay = trash, think like 140 all in
Deal experience = trash (all you do is pitch mostly)
Exit opportunities = trash, at UMM growth buyout fund and we never consider DC analysts
Junior team capability = trash
Overall = total trash
I’m just curious, what motivates someone like you at a self-proclaimed “UMM growth buyout fund” to be so nasty about an investment bank you perceive to be vastly inferior to you? Are you insecure about your own career path?
Someone has been trying to trash the bank on here for a while. This stuff is demonstrably false. They pay $175K for Associates in NYC. It's probably all the same person with different accounts, including comments from people that claim to work or have worked for DC Advisory and then go on to make defamatory comments about the bank.
Actually very stupid. If anyone cared enough they would be well within their rights to make a case for impersonation/defamation. It's one thing to go online and say "XYZ Bank sucks" it is another to pretend to be an official member/representative of such a bank and then make profane or slanderous comments.
Some points to add. Dc office is their biggest rev generator even though ny has the biggest headcount. They are on full growth mode in the U.S with the goal of expanding team from 200 to 400 within next 5 years. Recently hired 6 mds (2 in infra, consumer and h.c each).
They might be an “international” bank but have a “country ceo” and have grown to different countries by rollups. India team has been doing really well.
Who knew a bank simply existing could be so controversial.
It’s funny to see OP ask the community for their thoughts, but then repeatedly argue with the unanimous opinion: congrats on the job, but if you want the market view, DC is mediocre at best. Now you can either ignore it and be gung ho about your firm (most respectable option) or you can take it and plan your next move.
Instead OP has argued with everybody using meaningless rankings to create a reality in his head where DC is some top firm. This just makes you and the company look bad. Either be confident about your bank or use your insecurity to lateral, not to argue on the internet lol.
It's almost like OP is a troll posting dozens of these threads / comments a week to intentionally make DC Advisory look bad...and it's working phenomenally lol.
Ex DC Analyst here. DC office culture is trash at the senior / mid level (software / tech head is so toxic and childish, VPs breath down your neck). Comp is street, DC office hours / WLB worse than street. And what others have echo'd, lack of brand name.
Retention is terrible, they don't pay enough or have the brand recognition to work analysts / associates that hard so lots of churn before the 3 year analyst stint is up.
Overall, decent experience but definitely go to another MM if you get the chance (RJ, HW, Baird, HL, etc)
I have heard the exact opposite.
Okay Intern!
Does DC have a restructuring team?
How strong / reputable is their Infra team?
its good (worked opposite them) - in london headed by 3 mds - 2 are good, one is a cunt. shared P&L with the US infra team (newly started) Mostly buyside m&a and debt advisory - little to no sell side. Difficult last year though. Modelling heavy team but good rep with sponsors (infra funds)
I'm interviewing for their US Infra team - could you ping me? Have some questions and would be much appreciated if you could help me out.
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