Everyone and their moms are trying to lateral to Centerview
Current analyst at a BB. CVP people, y'all have it lucky.
Objective Factors
- COMP: Yes. 130k base 75k stub 50 k signing as an A1. For the other two analyst years, it's around 330-360k. Associate 3s get 780k on average. I'm guessing it's an easy 7 figures for principals and above. NOT TO MENTION ALL CASH COMP. Source: Friends and litquidity comp survey.
- Ubers to and back from office
- Free breakfast/lunch. Sushi bar once in a while.
- Gym in-office
- Relatively large dinner stipends and generous expense policy (100 and below no receipts)
- 200k A2A
- Partner led trips to the Hamptons and ski resorts for the juniors
- Month-long time off/sabatical for A2A promotes
- As well as all the other things for why people generally take the independent advisory firms over BBs (lean deal teams, feeling appreciated by seniors, etc)
More Subjective Factors
- No facetime culture
- Training is done completely in house
- I love the strategic advisory focus as I find the work more interesting
- Generalist program across M&A/Rx so exposure to lots of different industries. Spices up the work.
- Whale hunting model so higher value deals on average
- Accounts based staffing. The good: you really get to see how the life cycle of a client relationship develop; weeks can be 30-40 hours when accounts are not blowing up. The bad: when accounts are blowing up, hours can get up to 90-100 severals weeks at time.
Exits are probably the weakest among the EBs, but that's simply due to self-selection. Friends have gotten looks from every single MFPE. Personally I want to stay in banking, and it literally seems like everyone in my group is trying to lateral there.
If you want to stay in banking, Centerview has separated itself from the rest of the pack. I'm actually so jealous lol.
I did a lateral interview there and they spent 15 mins asking me about my thoughts on the us vax policy and how to get more people vaccinated. Weird af.
Strange vibes all around. Didnt want to continue any discussion with them srs.
awwwwww, is the little baby scared of a needle?
No I'm vaccinated.
Just wierd af to be spending 15 mins of an interview for a lateral hire on "what policies would you enact to increase the us vax rate". This isn't a public policy position...
I’ve been injected with more crap than most via the military. Ever have a hung over infantryman try to stick you with an IV? Needle fear is non-existent after that.
Putting up a fight to not have to report my status with my company was one of the better decisions I made. I ended up catching covid, it lasted 3 days. Worst day consisted of chills at night and what felt like a moderate whiskey hangover the next day. My wife teaches at a rural school, where the parents resisted masking, bounced off of her like a racquetball on concrete. She had a mild headache for a day.
Meantime after they dropped the mandates (which I knew our C level execs weren’t following in their NYC office) 8 vaxed coworkers in my office, that I had direct contact with, were out of work for 1-3 weeks. I didn’t get so much as a sniffle. Heck, I even had to cover for a coworker because of the crap that hit him after his second dose. Couldn’t be happier that I dodged this experiment and resisted corporate overreach.
They are actually known to ask obscure consulting like case questions. I remember getting a brain teaser on how many people drink rockstar and was asked to develop a strategy for essentially growing their market share but it was worded weird. If you can’t take the heat just say it, their strategy isn’t for everyone lol
Meanwhile Evercore is on the decline LMAOOOOO
You mean overall comp wise? Or the deals?
Can’t have HR find out that your mom and I work together
How is one firm so far ahead of the pack in comp? It’s insane
Relatively small headcount and huge deals. Same reason why Qatalyst and Dyal pay similar amounts.
For CVP specifically, they’re also on retainer for their strategic advisory work
Don’t forget it’s very sweaty - why would people leave otherwise?
Are those comp numbers verified?
What bucket is 75k bonus for An1?
It’s a stub bonus in December. So basically bonus for half a year. CVP doesn’t really bucket. Comp spread is about 15k at most between top and bottom performers.
On the other hand:
- Work extremely hard and long
- Comp has big deferrals
- Discourages ppl leaving to buyside
Great firm if you want to be a career banker but most ppl dont want that
Comp doesn’t have deferall. All given up front. Just stipulates that you stay a certain amount of time.
I think thats true for analysts but not sure above that
My main point was that you can't leave and take all your comp with you. Whether its deferred or clawed back. Everyone should think about that in their assessment of the firm and if its right for them
Sounds like paradise. FTPinsider what are your thoughts
"At a BB"
Username: "pwplover"
Can we get a “CVP Perks are paradise” in the works
Meanwhile they get 2nd tier candidates as they are last firm to recruit everywhere besides Wharton
80% of their analyst classes are from the ivies + t10s. Almost no non targets place into CVP. candidates slip through the cracks all the time so I’m sure their interns are just fine
Only 130k base? ;)
Yeah CVP is the place for career bankers, but a lot of people want to do other things in life. And the clawback policies are brutal/basically handcuffs you to stay
Ah yes, $255k for A1. Other banks can seriously fuck off. Just pulled $150k for A1 at a BB and hate myself.
Upvoted post because the more banks like CVP get praised and people realize how shit other banks are, the higher chance other banks will be forced to budge.
Barclays?
Wild
90-100 hours?! How do you you people do it?? The few times I’ve had to work ~50 hours I cried like a little baby.
I work 55-65 as an intern, how are you crying about 50?
Because sitting at a desk for 10 hours a day sucks?? I’m bulking right now and it makes it extremely hard to control my diet and workout. It’s also hard to have any semblance of a social life or spend time with family because after the 10 hour work day I also usually feel way too tired to do anything except make dinner, take a shower, tidy up my apartment, and then go to sleep.
Can someone please elaborate on this account based staffing model please? Thankyou!
How does full time recruiting work?
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