Goldman FIG vs Evercore M&A Fulltime Analyst
Hi Fellow Monkeys,
I find myself in a very fortunate situation with the choice between two great groups, Goldman FIG and Evercore M&A for a full time analyst offer.
Both offers are for the New York offices.
My goal is to recruit for mega fund PE.
Specifically I want to maximize for Blackstone, Carlyle and KKR (just like everyone else on this forum). Additionally, my eventual goal is to attend HBS.
Which would you choose and why?
Some further detail.
As some of you may know, Goldman FIG is divided into 3 verticals. Banks, Insurance & Fintech/Asset management. My offer would put me in FTAM, which reportedly recruits the best of the three and does the most interesting work.
At Evercore I would be in the generalist group, then asked to choose an industry to focus on after my first 6-12 months.
Here is my current list of things that are important to me (in order), and which firm would get the edge based on what I know, but would be happy to hear I am wrong if someone has better information:
PE recruiting (I am not sure)
B school apps and later career options (GS FIG, just because for whatever reason the GS name is a notch above everything else)
Hours & Culture (from what I have heard on this forum, EVR is the winner here, but there is certainly mixed information)
Compensation (I have heard EVR wins by probably 50k/yr pre-tax for the analyst years)
Location (this is nitpicking, but I prefer midtown to fidi so Evercore wins here)
Given both choices will place you well for MF PE recruiting, this is mainly a FIG vs non-FIG decision. If you can't see yourself doing FIG M&A for 2 years (like the most of us lol) then go Evercore and you'll be fine.
Personally I would go with Evercore unless you’re specifically interested in FTAM. Having said that, both are great offers and you’ll be able to recruit for MF PE from either seat. Well done.
If you’re set on PE I’d do Evercore since exits from both will be great, but GS name will hold more weight if you leave finance.
I would take the cash 10 times out of 10 at Evercore. Both will get you in the same PE interviews and the truth is converting to an offer is all about how well you interview not what group you’re in. And I’m pretty sure HBS has heard of evercore before lol.
If you're willing, I'm curious to hear how you ended up in your situation with 2 FT offers in June like a month before I'm assuming the standard July start date. Just networking and there happened to be hiring needs on both teams?
Evercore all day. More comp, better experience, more time to recruit (and HR tells all associates and up to lay off during on-cycle). Meanwhile, GS is super anti-PE.
Unless something dramatic changes, I don't see a single good reason to pick GS over EVR unless you plan on working in like APAC or Africa where EVR is less well known.
Even if you decide to exit finance for tech, the EVR name is extremely strong at this point and can absolutely get you looks at pretty much every company in the U.S.
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I've heard that most FIG groups pigeonhole you, but since GS FIG is the top group, is it an exception to the rule?
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I think the idea that fig pigeon holes is no longer as applicable as it used to be now that fintech has become so prevalent.
1) ‘Best culture at GS’ = fastest kid at fat camp. Evercore works its kids meaningfully less.
2) Evercore exits as well or better than GS FIG (and is supportive of recruiting, unlike GS, who will yank your bonus / fire you if they find out).
3) If you’re exiting to place that hasn’t heard of Evercore, you’re better off having $XXXk in your pocket than the “GS Brand.”
4) Unless you’re a BSD at GS, no one at the Treasury, etc. will care that you worked at Goldman. This is even more so the case is you leave after two years as an excel jockey, as OP mentioned is his goal.
The amount of bias this website has towards elite boutiques is incredible. I get that places like Evercore, CVP, Moelis, PJT, etc. place well in PE, but the breadth of experience you get at GS / MS sets you up well. The brand name of GS / MS does make a difference later on in your career beyond the standard 2 + 2. The elite boutiques definitely have great training programs and it sets you up well for Private Equity, but I would encourage candidates to take a broader view of your career. If you're a solid Analyst, you will get good MF looks at all these places. Even if you're in PJT RSSG or GS TMT / FIG, if you're a shit Analyst, you won't land that MF PE or HF job. I can guarantee you that.
Also, the rumors of GS yanking your bonus or firing you if you get caught recruiting is not true. Please don't believe everything that you hear on this website.
All this only matters if you went to a non-target.
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Deal flow doesn’t matter. You recruit one month into the job. Even for off-cycle, I know plenty of Analysts that got jobs at MFs that never closed a deal.
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