EVR Top Groups (2021)
Hey monkeys,
I'm currently going through the group placement process at EVR, which is still quite new. Wanted to get some thoughts from the street on the top groups to join at EVR (culture, exits, dealflow) and maybe some thoughts on the usual suspects (Media, Tech, Telecom). Heard the Tech group culture has changed quite a bit with the exodus from last year. Can anyone confirm? Also interested in hearing if people have thoughts on other groups like Transpo, HC, C&R etc..
Thanks!
All are fairly well-regarded. Prob the “top” groups of today are the ones that just announced the latest mega deals in their industry. Evercore is probably involved in a fair amount of the mega deals in every industry but prob from the perspective of a recent graduate going there for a few years the “top” groups may ebb and flow based on which industry is currently the hottest and doing the biggest deals at the moment. So yea TMT prob nice now. RX. financials probably heating up given earnings. C/R prob doing well too with reopening stuff. Just my guess
They post their deals on their website, so just scroll through to see where they are active. Looks like C/R, HC, Media / Telecoms are pretty strong.
Maybe go based on what industry you like also. Evercore is probably strong across most verticals. Healthcare is pretty busy with secular drivers, so would consider looking at that.
Tech, FIG, Healthcare
Overall best is Media — good hours and good deal flow.
Generalist is a total joke due to lack of oversight. The kids — who either are unwanted by other groups (most) or managed to avoid dedication due to luck or circumstance (a few) — basically don’t work. Inch-perfect fit if you’re trying to optimize for hourly pay and lifestyle, but definitely some downsides experience-wise. Think they’re trying to get rid of it, though.
Chemicals, Sponsors (the GP-selling one), and RE are all chill.
Transpo and Telecom are fratty and generally well regarded. Definitely on the harder working side (of Evercore, not the street), though. But if you’re on the beach, you’re on the beach. They go hard only when they have to.
Notoriously grindy (again, vs. Evercore average; still good vs. Street) groups include Healthcare, Industrials, Tech, Banks, and P&U. First three are bigger so you can find a niche within, though.
Anyone not mentioned above is a middle-of-the-road experience.
They recruit separately, so not to hard to do, but try to avoid all the product groups (other than maybe Rx and DCM/ECM). Being crossed-staffed with them sucked — time-wasting, work-shirking, and generally clueless.
Source: 3 years at the ‘Core.
any more insight on C&R?
Still newish. But solid. Lots of initial focus on alcohol and restaurants, but coverage has broadened steadily.
That’s helpful, thoughts on RX? What is the culture/reputation?
Second tier compared to PJT, HL, etc.
But definitely smarter than the rest of the product group folks (even though Activism, etc. are the ‘best’ groups on the street in their areas)
As someone who has done RX at HL and MC and has had friends and still has friends in EVR RX I can say in my humble opinion EVR is definitely up there. Maybe because it’s size it is not always a leader in the league tables as the regular guys are but in terms of knowledge, skill set, exits etc it sounds like a top tier group. My friends there have gone on to amazing stuff and one of my favorite associates from MC is now a VP in EVR RX. I think the group is respected on the street but I think the RX side of the busienss may just not be as emphasized at EVR since it’s a very heavily invested business in the mega cap M&A world as compared to HL, MC and even PJT to some extent
Sounds like someone's salty they weren't a generalist. Based on what I've heard from buddies, that is the best banking gig on the street (by far lol)
Definitely the best lifestyle, especially when you take pay into account. Most of the kids coming out are pretty clueless, but some of that’s more nature than nurture.
Agree with your takes, but don't think you had to call people clueless...
Sorry? Ask (for opinion) and thou shalt receive — I can delete the post and kiss everyone’s ass (and not answer the question), if you’d prefer.
Just sharing 3 years of experience working with said groups. Even at a place like Evercore, there are incompetent people. And they tend to coagulate.
How can you “agree with [his/her] takes” as an intern? Especially one who assumedly is doing/did a virtual internship? And what exactly did you expect in an opinion thread about tons of groups? Uniform positivity?
Sounds like you should try for one of the “clueless” groups.
Irrelevant to this thread, but how’s the energy group perceived in the firm?
Houston? Good shop, though definitely grindy.
The NY guys are a bit of an enigma.
One of the better shops in Houston but they work for it
Can you specialize from jump in one of the niches in HC, Tech or Ind? Or do you have to work broadly across the group for a while first?
Have heard anecdotally that the chill/lifestyle groups like RE, GP-Stakes Sponsors, and Chemicals have regressed towards the mean in terms of hours. Have you found/heard that to be true? Would love to hear any additional info on those three groups since I’m looking at them pretty closely in the placement process
COVID has apprently been rough on everybody. Also, they’re smaller groups so “culture” is really dependent on how busy the group is. A couple large, time-consuming engagements can turn a “lifestyle” group into a tough one pretty quickly.
Any thoughts on the debt advisory team at Evercore?
They’re good. Same with ECM.
+1 MS for saying “the ‘Core”
What are the other product groups excluding RX, ECM, and DCM?
Can you join Rx after having completed a summer in generalist M&A?
Not typical (summer generalist program doesn’t feed into those seats), but probably doable.
Someone two years ago made this move I think.
any insights on how they went about this? or was it just timing?
Tech is a sweatshop lol
doesn't get more accurate than this source lmao
Agreed…
To add a few extra points, my current connections/friends/people I know there in terms of them/their groups:
CR: friendly guy. Former VP when we were at MoCo together. Never worked with him directly but was friendly and helpful and we had some mutual friends. I think he is pretty chill but I’m sure he can work hard during deal time, etc
teleco’s: another VP I worked with at moco moved over to EVR and does teleco or related I believe. He was definitely a fun guy and sometimes felt like just another “bro” in our analyst class even though he was a VP. Granted, for those who worked with him directly he was known to be pretty high expectations/brought the best out of you even if it was hard at times. I did work with him on some projects before I left which was mainly helping some ED do a ton of work and build out some of his personal practice to help him get the MD promote which our friend did and then this VP guy moved over to EVR not too long afterwards. Would work with him again, but I can hear and understand why people say this may be an intense group.
banks: interviewed with this group at one point when I was not working. Nice guys and it was to work on a recent SMDs team. They seemed very busy but kinda tough to work with. All the juniors were friendly but the SMD just kinda looked at me during the interview and kinda said “eh, not sure this is a fit” so that was the end of that…
Thoughts on Menlo Tech?
Have one friend from college who maybe summered there. Sounded like it was a hard working group. Not sure if he went back full-time / maybe lateraled to something else entirely
Hit or miss depending on the team. Mostly sponsor owned software assets and all over the place internet companies. They work hard but quality of work varies a lot.
They grind but the style is completely opposite vs EVR NYC
What do you mean by opposite of NY?
A ton of departures over the last year
Any thoughts on the new Renewables group?
Curious as well
what's menlo park healthcare like?
any REAL insight into PU&I?
Any insights won’t be too helpful because the group has had a fair amount of change since COVID happened. Used to be 2 groups (P&U and Infra, which had its own strange arrangement with the Transpo group). Then the partner in charge of P&U moved to Guggenheim and the two groups were merged. In the past month, they just hired 2 new partners so TBD on what the top-down culture will be like as a result
do you work at EVR? If so, can I pm?
How hard is it to move from a non NY office to NY after a year?
Bumparoo
What’s the Menlo tech group like?
Bump
Bumppp
What deals is EVR media even on? I keep hearing about how good they are but feel like I haven’t seen them on any recent deals big or small
Yeah bump, their website doesn't list that many media deals IIRC
They do a lot of data related software deals too. I’m not as familiar with the Media and Software spaces so idk if that’s typical for the rest of the street but that seems to be EVR Media’s bread and butter (alongside very close ties with Viacom).
IMO, they’re the top group for analysts not because of their deals (would rank HC and Tech as the best in terms of big name deals) but because of their training. The team is incredibly organized and consistent to the point where you don’t waste time trying to find out if MD A wants his LBO outputs a certain way vs MD B, the team has all of that standardized so you can focus on the content of your decks rather than formatting
How difficult is it to lateral groups internally?
TMT at EVR
Best Groups for Prestige / Exits: Media, Telecom, Tech, HC
Best Groups for Lifestyle: Sponsors (Alts), Insurance
How is transpo? Any other lifestyle groups?
What’s good lifestyle there like 75-85 hr wks?
Transpo is an awesome group, super underrated with strong exits and great culture
Transpo is legit. Very cool from the top down but they do work hard.
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