I feel as if an EB like Centerview/Evercore is 100x better than an EB like PWP/Moelis. How are they in the same "conversation" ? There are a variety of reasons to choose one BB over the other such as BofA over Goldman, but never is someone choosing PWP/Moelis over Centerview/Evercore
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Congrats on BofA
Only reason you might consider mid BB over GS Classic is if's GS RE/Infra/NR and you're not interested in those sectors.
Can someone give me a reason why someone would pick a mid BB over GS TMT/FIG/CRG/HC? Would give a lot of ego points, as I'm headed to mid BB myself.
There are many reasons to choose a BB over Goldman, but never would anyone choose Evercore/Centerview over a shit bank like PWP.
PWP has horrible exits and has no brand name
what's up with people having an anti-boner for PWP these days, wso used to be the PWP hype machine. Why does this forum swing between either "godly" or "bottom-tier bullshit" assessments of firms
BofA levfin > GS levfin
no shot
Easier decision if you start at a mid/low tier BB. I stayed at my mid-tier BB rather than lateral to one of the big three, all of which offered solid comp packages to lateral. I stayed for several reasons
1. Didn't want to go to a place where I would have to learn a new bureacracy, office politics, be at the bottom of the totem pole at my level
2. Start covering a bunch of companies that no one else wants to cover / busy work accounts - new guys always start with bad stuff unless they are very specialized in a sub vertical
3. Lose my standing within my group - I largely only work on stuff that I actually enjoy working on and can easily avoid senior people that I dislike / suck to work with. Results in significantly less hours worked on average (outside of intense stretches of deal processes)
4. I probably only work 55-65 hours max most of the time (less right now, given the market) - I know i'd have to work more at any of those firms for my vertical
5. My vertical is very competitive with the big 3 and is usually 2nd or 3rd in M&A league tables - less competitive with ECM/IPOs but I'm not a fan of being an active book runner on those anyways, lots of process and uninteresting work most of time
6. I have very little compitition at my level and good senior relationships so have less need to act like a hardo, which I'd probably have to do at a new place
7. Efficiencies - I generally know what the seniros I work with want and good past materials to leverage to make my life and the A&As life easier. I would lose all that and have to start over at a new place.
The math is a bit different if you are coming out of undergrad and deciding between offers
Feel free to not believe me but I took Moelis over Evercore and I did it for two reasons: 1) comp and most importantly 2) generalist
“BuT EvErCoRe hAs hIgHeR BaSe” yeah but from everyone I have seen and heard/talked to Moelis all-in comp is better for most groups (CVP obviously on a different level here, but I’m not trying to be a career banker)
Best of all, Moelis has (most) juniors be fairly generalist across products so you get to play in M&A and RX. Moelis RX kicks the shit out of Evercore RX and it isn’t close, Moelis is a top 3 RX shop these days and that matters when you’re in a recession and still want a job + nice bonus
I don’t believe you
i dont work for moelis but they did do a fucking great job with Hertz chapter 11
Since when have analysts been laid off during their stint at an EB unless they were gutter bucket shit at the job?? Lmfao
The last time we had a ~real~ recession (Covid recession was short so barely counts) was GFC and a lot of analysts lost their jobs
Also know someone who took Moelis over Evercore
Was it Moelis LA? That would make sense imo
The generalist point is very dependent on people though. Great if you genuinely don’t care, but if you prefer one sector like tech or healthcare you will be pissed when you get the occasional energy / industrials staffing
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Another important note is that Moelis’ class is about 40 nationwide and PWP’s is at 20-30 while Evercore’s SA 2023 latest class is about 90 nationwide (about 70 M&A, 10 RX, 10 SF/CHI). People love to hype of Evercore’s exits, but forget that Evercore’s class was only 20-30 people a few years ago. There will have to be severe dilution in exits in incoming classes.
Centerview and Lazard are not 70 each. Their NY offices are 25-30 and regional offices have way smaller classes.
this. Was in the exact same boat and thought similarly, also have a friend who chose Moelis over CVP for similar reasons, and bc she didn't want to be a career banker. Also know people who have done the opposite, so it's not really a 100% of the time thing, but just that everyone has their reasons.
Yea my pal chose PWP over PJT, given it was M&A however. My other friend also chose MOE over EVR. The EB’s are interchangeable.
You should make another post lamenting why tf anyone would work in DCM like you, when clearly IB is the superior career path.
Thank you for input HS kid, DCM is classified under IB on sell-side. I believe the term you may be looking for is M&A
A few banks have it listed separately. In some its capital/global markets.
Yeah during recruiting it was Evr/CVP or go to a top BB for me.
Don't really see the argument for Moelis given sweatshop reputation and the announcement that they’re moving away from the generalist analyst program.
tbh hours at top places like evr, PJT, Moelis are all similarly brutal. None of these places are what I'd consider a lifestyle shop lol
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