Which of the above 2 firms is better from a 1) overall compensation 2) strength of sector teams (M&A only not Rx) 3) deal flow/wlb (live deals vs just endlessly pitching and 4) exit ops (to MM PE)? Appreciate any insight on the London offices
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Bump, also interested
did a mid-market PE internship so im biased but I think HL is miles ahead because of the volume of deals (M&A teams only as you said)
no clue on comp but a 10-20k delta shouldnt be your concern
get your deal exp and get out
HL >>>>>>> DC
Other than Infra, I'm not well-versed in DC Advisory's M&A teams. DC Infra has a very strong rep, decent MM Infra PE Fund exits and they're paid more than other DC teams (both base and bonus). HL is a dominant MM volume shop (touch anything 50m upwards) with strong deal flow - Healthcare, Consumer (food&bev), Biz Serv perform well. Both DC / HL will likely involve aggressive pitching but i'd feel its rewarded with both having good deal flow, especially HL will be swamped with sponsor sell sides and having good relationships with LMM / MM PE houses
HL far above DC except for infra in terms of deal flow and comp. DC consistently loses mandates to Big 4 lol
Both AN1 salaries at £65k iirc but bonus far lower at DC. Exception: DC infra is £75k base
HL much superior but incredibly sweaty, especially top teams in HC and TMT. All about volume, and the staff churn shows it…
Can anyone comment on the respective Capital Markets Advisory groups at both firms? I understand that at DC Advisory, juniors work on Restructuring and Debt Advisory transactions, while at HL, the team covers Debt Advisory only and has a separate RX team. Which would you choose? The brand name of HL is obviously better, but is the RX + DA experience at DC superior to just DA at HL? What is the pay (base & bonus) like and what are typical exits from both firms?
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