Most of the threads on Evercore M&A are pre-pandemic. Obviously, the bank has grown quite a bit since then. Would be helpful as SA recruiting approaches to have an updated view on EVR M&A hours/culture. It seems like exits have held up, but what are hours looking like? Any groups particularly bad or good?
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As the bank grows, it gets harder to generalize culture - it varies more between groups. Only way to actually get a feel is through networking, but I'd say most of the analysts know how to have fun. Hours depend on deal flow. I haven't really heard of anyone in my class getting grinded for no reason.
Exits are still top tier. For SA recruiting, Evercore kinda just gets filled with whoever is the most ready for early recruiting, which tends to be the more finance hardo type of kids.
At the end of the day, there are still only a few other places kids consider if they get an offer.
And in terms of other places, I think taking GS/MS makes sense if you plan on leaving finance or CVP if you want to do banking long-term / have patience to do an extra analyst year. Other than that, I don't really think EVR has changed as much as some other make it seem...
Would disagree hard about knowing how to have fun. Found folks to be not social at all - very limited junior camaraderie and non-existent senior mentorship. Little to no social events and HR just won’t give you any budget even if you want to try planning something. Will also get grinded probably a bit worse than other folks at different banks (various group to group ofc). If I could go back in time, I would 100% pick GS/MS and maybe a few other BB’s over EVR
Which group are you in?
.
Yea, idk what that guy is on about. Money is thrown around for social events all the time - the bill for my group’s last outing was ≈$15k. Also, pretty sure the HR budget during group placement was $3k (or something around there) per week per group, which resulted in some groups taking 1st year analysts out to Michelin star restaurants and other groups hosting ragers until 3am at a club for 5 weeks straight. The firm doesn’t skimp on social events by any means lol.
Yeah come to EVR. As an analyst, it provides a ton - mainly regarding exits ops. That being said, don't let anyone fool you saying that there's WLB or that the people are great.
I got tricked into thinking both before* I actually worked here. Def on a group by group basis, but our firm has no sympathy as a whole. FUCK my group especially though lmao
Lol what group?
Are there any notoriously bad groups? Which groups have better people/WLB?
Tech, Media, Industrials, and IUR are the 4 groups that stand out the most when it comes to unpleasant people, in-the-office 24/7 facetime culture, seniors assigning the juniors time-wasting work, VPs who don’t protect their junior teams, and 5am nights.
Tech has the reputation of being the most toxic and brutal by hours through all of EVR but top-tier exits and tons of deal flow.
Are Evercore bonuses all cash?
Until VP level yes
Is this for sure? Also, do you have numbers for An/Aso bonuses over recent yrs at EVR?
This is false. All bonuses have a portion deferred after associate stub. % stock varies by bonus size on a graduated scale
Is evercore supportive of buyside recruiting?
Yes, the one redeeming quality of the firm
how are the Menlo groups?
Very strong in exits and experience for the most part. Suffering from rapid senior expansion on the tech side so hours tend to be more brutal due to extra random coverage and general BB feel is creeping in as they poach from other shops. Would still pick Menlo if you want first look at top tech exits. Seniors supportive of recruitment.
know anything about healthcare?
How are HF exits? Seems like most exits are PE
There are usually like 3-5 people who go the HF route every year. Not as many spots out there to go after Street wide, which naturally just makes it less popular among the class. A lot of people who are interested in the HF path also generally just do the more typical 2 year PE associate > HF path since PE recruitment usually hits first and is easier. Historical one-off placements right out of EVR that come to mind are Coatue, D1, Maverick, Anomaly, etc.
How’s the real estate group?
Did you get an interview? Saw the posting and wondering the same.
Anyone hear about a super day?
I had a first round and did well until we dove into the corporate finance technicals. Background is in asset level acquisitions.
Not great. No deal flow and bad culture. That current job listing is out there because an An1 left after just 4 months on the desk.
Any color on why he or she left
Any insight on their Chicago office?
Paper and packaging only. Small office w ~15-20 people. Strong deal flow with great culture from what I've heard
Sounds boring
It involves paper and Packaging companies. Self explanatory.
IB might not be the best fit for you
Have heard from multiple sources that Tech group run by Naveen is one of the sweatiest and most demanding out there. Constant working during PTO, Associates pulling all nighters, Analysts getting staffed multiple times even while sick or on vacation, 0 respect for personal life. Rumor is that even the old staffer in the group tried to quit because the group was so toxic. When other groups have access to the same high caliber of exits, I'd stay far away from this group if you at all value your mental wellbeing.
Lol firm management makes Naveen go to therapy to learn how to stop being so abusive. He's a rainmaker and next in line for the CEO spot in most people's opinion, so they're trying to make him less of a PR liabilty.
Top exits on the street out of this group - just not sure whether burning out in your analyst years is worth it
pretty sure management not only makes him go to therapy but also work with a personal life coach to deal with his anger management issues
Naveen absolutely prints deals
How much worse is tech compared to the other sweaty groups like industrials/media/healthcare?
All four groups work terrible hours.
Tech, Media, and Healthcare are known to have great deal flow. Industrials has deal flow, but not at the level of the others mentioned.
Tech, Media, and Industrials are known to have terrible culture/senior bankers (which are all discussed in depth in comments above). Healthcare is one of the best teams at Evercore in terms of senior bankers/culture though.
Thanks. Does healthcare exit well into non-healthcare investing roles?
I agree with the comments about culture in this thread so far but tech and industrials have some of the best deal flow. Pre-COVID media crushed deal flow but for the last 2 years and currently it’s a different picture. Just look at the deal announcements by group.
Any intel on any other groups?
I swear the whole place is sweaty and at all levels not just the junior ranks… if bonus print is bad we might be seeing a GS13_vEVR lol
At least EVR pays for our laptops and coffee cups lol
Can one lateral from M&A SA at regional office to M&A in NYC full-time? How does group placement work?
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