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HW is super encouraging of recruiting and will help with it. MD are known to "go to bat"
What's this "go to bat" I keep hearing? Some people are memeing it lol
Yeah it is a meme but still accurate from what I've heard. I go to an HW target and not a single analyst in recent years has stayed on A2A. All have gone to PE
They both have a strong name for MM PE exit ops, but HW may be marginally higher. I have friends that work at both- HW definitely work more, so I'd say go Piper. You'd be fine with both, but I'd take the option of working less. Obviously, this is group specific, but overall
This is extremely helpful bro, I have been searching everywhere for insight for the past few days. I haven't worked a single hour in IB yet. From your perspective, you think it's better to work less over the marginally stronger exit?
Honestly I'm not sure HW would have better exits. Piper Sandler Chemicals has had 4+ $1b+ deals YTD, including one that was something like $6-7B if I recall. They're very much unlike the rest of Piper in the type of mandates they seek, and they're pretty much whale hunters. This can be a bit boring if those deals aren't hitting, but I still imagine they'd be quite solid for PE recruiting. As someone that was at Piper last summer in a different group, I can say that people were pretty impressed with the team, and the analysts who were there must have gotten some of the best creds out of anyone at Piper. Don't quote me on this, but I'd imagine if you're a good candidate you could spin UMM with a bit of luck.
I'd pick working less any day. Ultimately, the name won't get you the job, the experience will. I've seen people get into very reputable MM PE shops from regional boutiques. Depends what group you're in too
HW has an amazing culture. I'd say go HW over Piper any day of the week. Their exits are similar anyway.
I'd go with HW unless you are interested in Chemicals. HW has a bit of a bad rap for running excessively broad processes, but their consumer team is solid. They've beat us on a couple of pitches in the past.
Hw if you prefer culture > living in nyc. Everyone raves about culture there, bunch of extra nice southern guys and they do all sell side m&a and win like 75% of their pitches.But some people (probably myself) wanted to be nyc > all else so id take piper, just make sure chemicals isn't a brutal place to be. Heard they do very well though
I literally just hear someone said "Friend just left, he quit cause it was so bad." Now it's really a tossup because I heard both firms have really long hours with HW having better culture and Piper being in NY.
Have no experience with Piper chemicals but I chose hw over piper (non nyc offices for both). Didn’t like Piper culture
Totally depends on group. Piper is known for HC, chemicals, maybe FIG. HW is strong in TMT. If you have a group specific offer, I’d pick based on that. If not, pick what you’re interested in and go for the bank thats stronger in that industry
It's actual HW TMT vs. Piper Chemicals. That's why its so hard to choose. HW might have better culture but Piper is in NYC. What's your take boss?
Hw tmt has great placement. I would chose the two year sacrifice of living in Boston or sf for the long term opportunities. Also if you’re interested in tech do tech, if chemicals do chemicals.
Why are you eschewing the bulge brackets and elite boutiques?
Valence group is a very well respected team on the street, there's a reason why they are referred to by their group name and not just Piper. At Piper in a different group that was acquired and the people at Valence are phenomenal.
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