Deutsche Bank v. Greenhill & Co. NY
DB Financial Sponsors v. Greenhill Generalist for FT
Exits? Culture?
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DB is a bottom tier BB bank. Greenhill will have similar exit opps and better comp than top tier BB's.
Do a linkedin search for alumni from both groups. A sponsors group will place pretty well.
Working at a BB and a boutique are two very different experiences.
DB Sponsors is very good group and I wouldn't necessarily say DB is a bottom tier bank. There are very good groups in all of the BBs and DB sponsors is one of them
GHL is a very good option too but based on what I'm hearing it's not as strong as the other EBs (EVR/LAZ/Moelis, etc.)
My vote would be DB Sponsors
DB Sponsors is a great group for both culture & lifestyle as well as experience. Greenhill is a great shop too. No bad option.
I would take Greenhill NY. It's a misconception that they are on the decline. The firm strives to actively maintain a boutique culture and only poach partner lvl talent that exactly fits the fabric of the firm. That's why you don't see them on top of the league tables. They also are the only pure play advisory EB on the street, everyone else has some sort of fund of funds or AM arm. Also at the analyst level, you will see some great dealflow they only have approx 16 analysts in the NY office and the partners bat well.
At Greenhill you get the option to do restructuring which is a great experience to have under your belt. That also means you don't get canned when the cycle turns. DB is in the shitter right now and compensation will also much be lower. Of course, at DB you will get to work on ECM and DCM assignments as well.
One other thing you should consider, do you want to do financial sponsor advisory or corporate advisory? Greenhill will only act as an advisor to the corporation and may do a sponsor deal in extreme circumstances. It's one of the foundations of their advisory business.
Also NY>SF, whatever you want to do( except tech). It's harder to move the other way around across firms.
I would have serious reservations about working for a European bank right now especially DB. While most cuts are coming (and have already come) in S&T I would imagine that comp will be downright awful in IB for the next two years.
Greenhill, without looking back.
GHL is considerably stronger, especially from an exits perspective. People at GHL also rave about the culture and it's a very selective firm- one thing that sets them apart IMO is that they haven't really been increasing the size of their analyst class like other EBs so their exits are still around the 80-85% mark they were in 2012.
I know nothing about DB Sponsors but would take GHL over any BB in any group anyways.
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