Incoming 2027 SA so obviously take this with a grain of salt, but after doing a lot of research/networking I genuinely don’t understand why people still automatically put GS above Evercore for M&A.
My current US IB tier list:
S+: Evercore
S: PJT, Centerview
A+: Goldman, Morgan Stanley
A: JPM, Lazard, Moelis
B: BofA, Citi, Barclays
C: UBS, Deutsche
Before everyone says “student take” — yes, I’m a student. But that also means I’ve spent the last ~6 months researching this pretty obsessively and talking to analysts at basically all of these firms.
My reasoning is that if you actually want to do M&A/PE rather than just tell your parents you work at Goldman, EVR seems objectively better. Smaller deal teams, more responsibility, better pay, arguably better exits and you’re not getting stuck doing random financing work.
GS obviously has the better overall brand but I feel like that matters way less than people on here pretend it does once you’re actually in finance.
Also slightly controversial but I’d probably take PJT RSSG over GS TMT at this point too.
Imagine take UBS/DB over PWP. I will say at this point even JEFF/GUGG/Roth/WF are better than UBS
EVR > GS imo but GS TMT > EVR, although I’d probably take PJT RSSG > GS TMT but CVP > PJT unless you want RX obviously. MS M&A > JPM but JPM Sponsors > MS coverage, Lazard > Moelis overall but Moelis RX > Lazard except I’d take HL RX > both for actual reps although obviously HL Lazard. BofA > Citi but Citi M&A > BofA coverage, Barclays > UBS US but UBS > Barclays globally, DB both but DB LevFin > UBS and probably Citi depending on exits. Rothschild > Barclays in Europe but Barclays US. So overall probably CVP > PJT > EVR > GS > MS > JPM but group dependent. I’m a freshman though so could be wrong.
go outside pls
** feels the aura **
congrats on micropenis
Congrats on no return offer
Congrats on negative ratio sb/ms
Brand matters massively long-term, and Evercore has almost no brand outside this bubble of "high" finance. Nobody outside finance has heard of them. Roger Altman? Most people know him as a Clinton cabinet member, not as Evercore's founder. GS alumni are everywhere, PE firms, corporates, other banks, etc. That network compounds over your entire career. More importantly, GS is the stamp that tells future employers you're legitimately smart and hardworking in a way no other job can simply because of it's reputation. In two years when you're recruiting outside IB/PE (the likely outcome for most of us as both are declining), you'll realize GS opens doors Evercore can't touch.
"Smaller deal teams" isn't the flex you think it is. You're learning from fewer people, which means fewer mentors and a smaller alumni base to leverage later. That GS analyst cohort? They'll be your peers at PE firms, in corp dev, everywhere. The Evercore cohort? Way smaller, way less useful network.
You clearly don’t work in the industry or have done as much research as I have… better pay, better IYKYK clout, better people
You're an intern. I'm a senior associate at a top VC shop, ex-GS with friends at the boutiques. Here's reality: when you tell founders you were at Evercore, they don't care. When you say GS, they still don't care, but at least they've heard of it and crack a joke about the hours. That's the difference. GS has clout outside your small bubble of finance nerds. Evercore clout is IYKYK stuff that doesn't matter in the real world.
Holy AI slop lol
If u love Goldman so much why don’t you marry it
AI slop but unfortunately true
Just figured it'd better to give a more comprehensive answer edited by AI than a less comprehensive one not edited by AI. Speech to text using Ai is wonderful for getting your broad points across, even if AI can sound off at times.
Rare WSO top post even if it's clearly AI. For better or worse, saying you worked at Goldman when you are interviewing will help you far more in the vast majority of possible instances than any other bank. That's why Goldman can afford to pay the Goldman discount (unsure if this is still a thing, but was back in the day).
Also they definitely won’t be corp dev because a couple analysts I’ve spoken to said that corp dev are just failed bankers
Ah yes the great wisdom of IB analysts, who know so much. This might be shocking to a prestige-obsessed person like you, but people have different interests. I was actually at Evercore before PE, and some of the smartest people I know are now in corporate roles in part due to them getting exciting roles and/or wanting better WLB. When you are closer to 30 and thinking of starting a family, the equation for WLB changes a lot. Btw, I agree that Goldman has a stronger reputaton outside of high finance, but Evercore is pretty similar to Goldman within the industry (maybe slightly lower than Goldman, but still very high), especially for top Evercore groups. Both are top-tier spots and will get you whatever PE interviews that you want.
No one cares. Go back to 400 question guides prospect before you discuss which one is better between GS TMT and PJT RSSG
Fair lol but you don’t need to have worked at both to compare them. Obviously I haven’t recruited yet but I’ve read pretty extensively on both groups and spoken to 2 analysts at PJT and an incoming GS SA. From what I can tell RSSG still has better IYKYK clout although GS TMT obviously wins on lay prestige. Just my 2c.
Wow you spoke to an incoming summer analyst?! you must really know everything!
fwiw u sound miserable to chat with - genuinely feel bad for those you networked with
Wdym? I’m just comparing the groups lol. I don’t think saying PJT RSSG > GS TMT for IYKYK clout is particularly controversial. GS TMT obviously has better lay prestige and arguably broader exits but within high finance PJT RSSG is more selective and has stronger finance clout imo. Same reason I’d probably put CVP > both for pure prestige, although GS TMT > CVP for tech specifically. Not sure what’s miserable about that?
Touch grass
Bro probably thinks EVR M&A >>> CVP HC >> GS TMT ≈ PJT RSSG >>> EVR Menlo >> MS M&A >> CVP Sponsors > GS FIG >> EVR RX >>> JPM Sponsors ≈ PJT Tech RX > GS Industrials >>> EVR C&R > CVP Pharma >> MS HC > EVR Sovereigns >>> JPM M&A > GS Sponsors > PJT Consumer RX >>> EVR Special Situations ≈ CVP Tech >> MS Media >>> GS LevFin >> EVR FIG >> PJT Strategic Advisory >>> JPM HC > CVP Industrials >>> EVR Cross-Border M&A > GS Consumer == MS Sponsors >> PJT Pharma RX > EVR Alternative Capital >>> CVP FIG > GS Strategic M&A.
Get some pussy and learn what sex feels like
I got a return btw
Bro probably thinks EVR M&A >>> CVP HC >> GS TMT ≈ PJT RSSG >>> EVR Menlo >> MS M&A >> CVP Sponsors > GS FIG >> EVR RX >>> JPM Sponsors ≈ PJT Tech RX > GS Industrials >>> EVR C&R > CVP Pharma >> MS HC > EVR Sovereigns >>> JPM M&A > GS Sponsors > PJT Consumer RX >>> EVR Special Situations ≈ CVP Tech >> MS Media >>> GS LevFin >> EVR FIG >> PJT Strategic Advisory >>> JPM HC > CVP Industrials >>> EVR Cross-Border M&A > GS Consumer == MS Sponsors >> PJT Pharma RX > EVR Alternative Capital >>> CVP FIG > GS Strategic M&A.
Evercore within finance while Goldman for anything outside of finance. No, Jessica from ACCT-101 will never date you anyways.
del
ban Canadians
.
All good bro but why are you bucketing all EVR M&A teams together? Just like there is a difference among various GS classic groups, the same applies to EVR. Like EVR Financial Services or Energy Transition M&A is not the same as EVR Tech or Media M&A.
Overall, though, within the "finance world", I would say that GS TMT stomps any EVR group, they are just too good. Once you go past that, you could argue that specific EVR groups are better (again, depending on what you're comparing).
If you zoom out, outside the "finance world", GS is still the better brand, especially if you go international (e.g., APAC, it is not even close). It has nothing to do with their current status (though GS is doing better on almost any front) but with their legacy, which won't change in the coming decades.
That said, EVR has done amazingly well over the past decade - They are probably the No. 2 IB firm nowadays if you base it on overall "prestige" (IMO they overtook MS, which hasn't been that great given the WM focus. CVP is awesome too, but given their size they don't yet have EVR's reach).
Nah this is still way too firm-level. GS TMT >>> EVR Menlo > CVP Sponsors >> EVR M&A > MS M&A >>> GS M&A > EVR Industrials >> PJT M&A > JPM M&A >>> GS Industrials > EVR C&R >> MS Sponsors > GS FIG >>> JPM Sponsors > EVR FIG, but for MF PE I’d go CVP Sponsors >>> EVR Menlo >= GS TMT >> EVR M&A > MS M&A >>> PJT M&A, whereas for UMM it’s CVP >>> EVR >> PJT >= GS > MS. RX obviously PJT RSSG >>> EVR RX >> HL RX > LAZ RX >>> MOE >>> CVP, except traditional PE where EVR RX > PJT RSSG >>> HL and credit where PJT >= HL >> EVR > LAZ. London specifically EVR/Robey >>> GS UK > MS >> PJT >>> CVP for advisory, but GS >>> EVR > MS >>> CVP for general optionality, while IYKYK is EVR >>> PJT >> CVP > GS >>> MS. If you normalize for class size though CVP >>> EVR > PJT >>> GS = MS, unless you’re talking tech where GS TMT >>> EVR Menlo >> CVP, except software where EVR Menlo >= GS TMT >>> CVP. JPM M&A > PJT M&A for breadth but PJT M&A >>> JPM Industrials, while JPM Sponsors >> PJT M&A but CVP Sponsors. So overall EVR >= GS >>> CVP > MS >= PJT, but adjusted for exits CVP > EVR >= GS >>> PJT > MS, and adjusted for actual finance clout EVR >>> PJT >= CVP >> GS > MS. Not really controversial.
So gay I can’t believe this is what you do in your free time
This guy (and this post) is obviously a troll. Some of the groups you mention don’t even exist (lol CVP sponsors) or rankings make 0 sense.
The level of granularity is poking fun at all the people on WSO who actually think this way.
EVR is a great firm, so is GS. Arguing which is better is like arguing whether a Bugatti is better than a Koenigsegg. Both are super cars, one is more of a household name while the other tends to be known mostly by enthusiasts.
This has to be AI genuinely concerned
I mean, energy transition is like 1/5 of the people in tech and they are doing crazy revenue per capita. It’s definitely one of the top groups in NYC
Such a Canadian takeObviously depends on what you are optimizing and this is all very team dependent for but in general (as a firm)
GS >> EVR
CVP >> EVR
EVR >> PJT
MS > PJT
PJT >= good groups at JPM
This is just for m&a obviously different story for RX - but ranking would be so different idk how you could factor RX in when bulge brackets don’t participate
For RX from my understanding PJT >> HL > EVR > LAZ > MOE > CVP but others will know better prob plenty of threads on this
Also you would only be considering which you would choose between gs tmt and PJT rssg if you are exclusively optimizing for exits - other than that they are doing a completely different job / recruiting process is very dissimilar
Nah I think you’re overrating GS and CVP here. I’d have EVR > GS overall for pure M&A, but GS TMT > EVR generalist, while EVR Menlo > GS TMT for pure advisory. CVP > EVR for sponsor exits but EVR > CVP for corporate M&A, although I’d take CVP over both if you’re specifically optimizing for UMM/MF PE rather than general optionality.
PJT is harder because I’d have EVR > PJT M&A but PJT RSSG > EVR RX, although EVR RX > PJT RSSG if you want traditional PE rather than distressed/special sits. MS > PJT M&A but PJT > MS if you adjust for analyst class size and IYKYK clout.
So probably EVR > GS > CVP > PJT on pure advisory, GS > EVR > MS > CVP on broad optionality, CVP > EVR > GS > PJT for sponsor exits, and PJT > EVR > HL > LAZ for RX. But if we’re talking people actually in the upper echelons of finance rather than general brand recognition I’d probably move EVR and PJT up and GS/MS down slightly.
Agree JPM has some good groups but don’t really see how you can put “good groups at JPM” >= PJT as a firm. Maybe JPM M&A > PJT M&A, but PJT RSSG > JPM M&A, unless you want traditional PE, in which case JPM M&A > PJT RSSG. Different conversation though.
You’re not a real person wtf is this
How can someone be like this? Makes me wanna quit this industry.
most Canadians in US IB are like that. Weird bunch for sure
seriously... its like they only care what other people think. once you actually break in nobody cares if you work at goldman vs evercore vs your local tiny boutique
This has to be a troll post otherwise I have no hope for this kid
Good lord the level of autism in this thread
Was the industry always like this…
I think so
del
Everyone commenting thinking I’m weird is lying to themself that this industry isn’t obviously about clout and one upping people on firm name - ur in the wrong industry if u disagree - just say u clearly didn’t get an SA role in a firm within the upper echelons / top tier
CVP HC is better than EVR M&A
PAHAHAHAH NO WAY!!! CVP HC > EVR M&A is too simplistic. EVR M&A >>> CVP HC for pure advisory, but CVP HC >> EVR M&A for HC MF PE, except pharma where EVR M&A >= CVP HC. General MF exits I’d go CVP HC > EVR M&A >>> PJT M&A, but for optionality EVR M&A >>> CVP HC. Per-capita looks probably CVP HC >= EVR M&A, but IYKYK clout EVR M&A >>> CVP HC >> GS HC. So realistically EVR M&A > CVP HC unless you specifically want the things CVP HC is better at, in which case CVP HC > EVR M&A. Pretty straightforward.
Not for exits but for prestige and more dominance IMO
Congrats on big 4
You are a loser. Is this your hobby? Shitposting prestige rankings on a finance forum. Please take some time to reflect and understand how foolish you sound. Genuinely not sure how anyone could stand to share a networking call with you.
He is being sarcastic....
These groups are not comparable. You just threw out TMT, RSSG, M&A as if the same candidate would be weighing these super specific career starting points.
Tier Ω — cannot be compared, only experienced
LAZ Sovereign Advisory
Q (entire firm)
S+++
PJT RSSG · EVR RX · EVR M&A · CVP HC/Biopharma · CVP M&A
S++
GS TMT SF · GS TMT NY · MS M&A · MS Menlo · HL RX · CVP TMT · CVP CR · CVP Activism Defense · EVR Menlo · EVR HC · MOE RX · Rothschild RX Europe · Eastdil RE M&A
S+
GS FIG · MOE LA · PJT M&A · PJT HC · PWP RX · JPM FSG · JPM M&A · JPM HC · Gugg RX · LAZ RX · LAZ PEI · HL Distressed · Rothschild RX US · Rothschild M&A Europe · MOE NY · EVR CR · EVR Industrials · CVP Industrials · CVP FIG · GS HC · MS HC · Eastdil Debt Placement · Eastdil Investment Sales
S
GS Classics · GS Industrials · MS FIG · MS M&C · PJT TMT · PWP M&A · PWP HC · JPM Tech · LAZ M&A/Special Committee · LAZ HC · Gugg HC · MOE Tech · MOE HC · LionTree M&T · EVR Energy · EVR FIG · CVP Energy · GS NatRes · GS CR · Eastdil Structured Finance · Citi HC
S−
PWP TPH · PJT Industrials · JPM FIG · MOE Capital Structure · MOE Consumer · MOE Industrials · PWP Industrials · LAZ Tech · LAZ Industrials · MS GIG · Klein
A++
Gugg Tech · Gugg M&T · PJT Shareholder Advisory · PJT FIG · Park Hill Secondaries · LionTree Tech · LionTree Consumer Internet · Allen & Co Media · Rothschild HC · LAZ FIG · LAZ Consumer · MOE Energy · PWP Energy · PWP TMT · JPM Industrials · JPM Energy · EVR RE · GS RE · MS Energy · MS RE · Citi M&A
A+
Gugg Industrials/Consumer/Energy · HL Tech/HC/Industrials · Rothschild FIG/Power/M&A US · LAZ RE · MOE Private Funds · PWP FIG/Consumer/Capital Solutions · Park Hill · JPM CR · JPM LevFin · BAML M&A/Tech/LevFin · Barclays LevFin (has been elite since it was Lehman, this has not changed in 18 years) · Citi LevFin · Citi FIG (Citi FIG has always been better than Citi) · GS Financing Group · MS LevFin · EVR PFG
A
CVP Private Capital · PJT Capital Markets · LionTree Sponsors · Rothschild TMT/Industrials/Consumer · LAZ Capital Advisory · Gugg FIG · Gugg Aviation · HL CFR · HL Business Services · Jefferies RX/Tech/HC · JPM DI · JPM RE · BAML HC/FIG/Sponsors · Citi Tech · Citi LatAm · Barclays M&A/Tech · EVR ECM/DCM
re Gugg Aviation: it is a group that is only aviation. I talked to one person in it for 40 minutes. he was the single happiest person I spoke to in six months. I love planes so much. I’m not autistic I just love planes. I don't know what to do with that so I am putting it here.
A−
UBS LevFin · UBS GIG · Macquarie Infra · Macquarie Principal Investing · RBC Energy (Houston/Calgary) · RBC Mining & Metals · WF LevFin · WF Sponsors · Baird Industrials · Jefferies Industrials/LevFin/Sponsors/A&D · BAML GIG/CR/Energy · Citi Industrials/Sponsors · Barclays NatRes/Sponsors · GS Salt Lake City · MS ECM
RBC Mining & Metals is the best mining bank in North America. it has never been mentioned once on this forum. I searched. 0 results in 4 years.
Baird Industrials is the best MM industrials group. it is in Milwaukee. I know. it's still the best.
B+ → B−
Blair Tech · Blair HC · Piper FIG (legacy Sandler O'Neill — ranked C by people who have never priced a thrift conversion) · Mizuho Greenhill/Energy/LevFin · Nomura Greentech · Harris Williams all · Baird rest · WF rest · RBC rest · DB LevFin · DB Germany coverage (if you speak German this changes the entire world and nobody models it) · BNP Europe M&A/Energy Transition/DCM · HSBC DCM/Asia M&A · SMBC + SocGen Project Finance (actually world class, actually) · Macquarie Energy/Real Assets/Commodities · UBS Sponsors
C+
UBS Tech · UBS ECM · Mizuho rest · Nomura rest · BNP LevFin/FIG · DB Tech/HC · Macquarie HC/Consumer/Tech
C
UBS M&A · UBS HC · UBS CR · DB rest · BNP rest · HSBC FIG/Industrials · SocGen rest · Nomura coverage · UBS FIG · UBS M&T · UBS RELL · UBS Energy · UBS residual coverage · HSBC US IB, which exists
D
• Anything in Charlotte (besides WF which is paradise)
D+++
• regional banks that made a league table once in 2019 and have referenced it in every recruiting presentation since
• the India team at any bank (no hate, just different)
• printing/production teams
• VDR salespeople who add the entire analyst class on LinkedIn
E
• Ducera / Solomon / Union Square / Raine / Dyal
Yeah these literally aren’t real chat - they’re like Santa Claus or feeling the touch of a woman
F
• any bank that hires an incel who ranks banks by prestige
Ducera/Dyal can't be that low
They literally don’t exist
your crush getting her walls destroyed while you rank firms on WSO 😭😭 get some bitches nigga
@OP I can tell already, you’ll fit right in at EVR 🤏
For discussion, what's the difference between EVR and Top BB since the last time a post like this has been made? GS/MS top groups have only gotten stronger with how much sponsors rely on them when deploying capital for the AI buildout, all while only hiring 10% - 20% more SA's.
I know that isn't indicative of all groups, but the majority of the top groups at GS/MS/JP (TMT/M&A/FSG/FIG/M&C/ GPUG) would get exposure to this
Keep dreaming lil bro, u probs think actual seat doesn’t go like PJT RSSG > GS TMT > CVP HC > EVR Menlo > MS M&A > EVR Industrials > GS FIG > Qatalyst > EVR HC > CVP Consumer > PJT M&A > GS Industrials > EVR C&R > MS TMT > JPM M&A > GS HC > EVR FIG > MS HC > JPM TMT > Lazard RX > HL RX > GS Consumer > EVR P&U > MS Industrials > JPM HC > Moelis RX > BofA Sponsors > JPM Industrials > MS Consumer > Jefferies HC > Rothschild M&A > Citi TMT > Barclays Sponsors > UBS HC > DB TMT.
Let me know when you ditch IB to become a founder, I would love the opportunity to work with you.
agentis capital??
blue origin merchants?
This is amazing 🤩🤩 i love elite boutique 😍😍😍👌
Bro successful rage baited everyone on WSO. This is going in the WSO troll record books. The WF anchorage guy wishes he was this good.
I think it’s particularly close
Which Ivey kid is this, go to Delilah's and get some bitches instead...
All these rankings are bs. The best bank is where you’ll be appreciated the most and thrive.
i heard something about evercore, zim, and hapag-lloyd.
anyone have more details?
Congrats on Dodge & Cox!
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