Evercore PFG v CVP
Basically what the title says. I have offers from both and both in NYC. For evercore, I got an offer from their Private Funds Group and the CVP offer is generalist with mostly focused on M&A in HC/C+R I believe.
Based on the offer letters, pay is basically the same or pretty much around the same to the point where it doesn't make much of a difference to me. I like the EVR culture better because it fits me more. I guess I'm more curious from a exit ops standpoint so want to know what you guys think...
These are completely different jobs, correct? CVP will be their investment banking program. Evercore will be their fundraising group. So completely different exit ops.
Yes correct. I'm curious to know what the exit ops might look like from that.
I would go with CVP in this case because it's for M&A. PFG isn't really comparable in this situation if you're looking at exit ops.
I mean, what do you want to do bro? What are your interests? Most people want to do one or the other because they are so different
I'm not a 100% set on either yet. PFG sounds super interesting but I'm trying to find more information on what the career path for something like that might look like. I couldn't find a lot of threads on WSO or even outside going deeper into this so thought I would ask.
Okay. It seems like youre still exploring and arent too sure about your interests, so in that case a generalist m&a program would be the safer bet
From what I have heard most exit opportunities from PFG are into investor relations roles. These roles are typically limited in pay due to the soft skillset demands. Additionally, I have heard that these investor relations roles are often dominate by women because they tend to outperform men in this area.
CVP will allow you to recruit for the same opportunities someone from the Private Funds Group would be recruiting for, but not the other way around. I see no reason to pidgeon-hole yourself so early on in your career, and would strongly recommend you join the CVP group. After two years of doing long hours in CVP, you'll know a lot more about the industry than you do now, and will be better informed about what to do next in your career.
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Both firms have great culture. The generalist model at CVP would probably be a better fit if you're unsure where you want to go long term. That being said, the 3 year commitment means that you should be at least considering a career in banking.
Exit opps definitely CVP.
But out of curiosity, how were the interviews with PFG?
Regular first round --> second round --> superday. Kind of technical but nothing crazy.
Was first round behavioral or a mix between behavioral and technical?
What were the technicals they asked and any more detail you can provide for how their super day for this group is setup at EVC?
CVP will definitely give you more flexibility in terms of exit opps.
PFG is less technical and you'd be more limited to what you can do right after. Either another placement agent role or maybe IR.
Doesn’t even seem like a debate to me... Unless you’re deadset on a career in IR, the CVP offer is much more attractive: phenomenal pay, great work experience, great exit ops (if you choose to pursue them) and great culture all make it a very sought after opportunity.
EVR offer will pigeon-hole you hard. If you have any questions about that group I saw a thread about it either earlier this week or last week
Don’t think EVR will pigeonhole you as much as others say. That being said exit ops wise CVP will certainly pays dividends.. you’ll get worked plus it’s a 3 year program, but you’ll be paid well. After your stint the world is your oyster
Dead wrong. PFG is an outsourced IR / fundraising role.
Cvp is normal banking
Less hours working in PFG if that’s what you value. You can also pivot to another team in EVR since you’re already there. In my opinion you get pretty good experience to the fund raising process with PE, then make the switch to another group by being a top bucket analyst. You’ll have that traditional banking experience after you rotate and you’ll have the fundraising experience. Pretty solid going into PE
what are thoughts on Private Placements? More transaction experience / modeling? better exits than PFG?
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Or you could start in a transactive role at a just-as-good competitor in CV, from which you can get any PE job out there, rather than doing IR / fundraising for a year or two and hoping you can sneak into M&A at EVR.
100% cannot pivot to another team, they are very very seperate. PE exit ops would be only in IR, unless you pursue something completely unrelated.
Is this for SA or FT?
SA
Join Evercore PFG if you want to pigeonhole yourself for the rest of your career (maybe a top MBA will save you), become a glorified admin and do the most mind-numbing work in all of front office finance
would you say the same for Private Placements?
What do you for private placements? Private placements is a banking product, nothing PFG related. Bankers refer to private placements as private debt or equity capital raises for companies.
If you're talking PFG, you must mean placement agent work which is essentially just fundraising for PE funds. As mentioned, at a junior level, you'll just be a glorified admin with zero analytical work and zero transferrable skills elsewhere.
My contact at CVP says 2021 SA recruiting hasn’t kicked off yet? When did you get your offer?
im curious, What type of technicals did you get for the interview? and How did you study?
CVP and it's not even close.
This shouldn't even be a question - Centerview M&A hands down and it's not even close
Dont be fooled into thinking Evercore PFG = Evercore M&A. There may be a chance to transfer after a couple years, but a key attribute of your analyst career should be to maximize optionality, which a funds group does not provide
Can guarantee this -- also very, very unlikely to be able to move teams within EVR. Perhaps only take the EVR PFG internship for the name and then apply to FT in M&A.
Pay is also not the same due to variable (bonus) comp that doesn’t show up in your offer letter. I doubt PFG pays as much as M&A at Evercore, but even if that’s the case, expect lower-mid 5 digits more $ per year a CV.
Pay is the same as M&A and usually their bonus is higher at an Analyst level. Not sure how this translates to more senior positions in PFG.
Can I ask what kind of questions did you encounter in PFG interviews??? The information about it is really limited...
“How quickly can you send out a dial-in?”
“What’s the best way to align logos in PPT?”
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