Have seen lots of interns leaving top coverage groups at Goldman (FIG, Industrials) for Evercore M&A full-time. Why is that? Are Evercore's exits considered to be noticeably better nowadays? Now that Vault's put them at 2 and Goldman at 3, is Evercore considered the better bank within the industry?
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Evercore has better pay, arguably better exit opportunities, and similar prestige within the finance industry. The only downside I see are no brand name outside of finance. However, you're best off choosing where you think you'll most enjoy your experience. At this point, you're splitting hairs.
I would echo a similar sentiment; better pay, definitely better exit opportunities. Evercore analysts not only exit to top megafunds but also top hedge funds which is pretty rare even from a top group at Goldman. Within finance, they have similar prestige levels although I personally have more respect for the Evercore guy / gal knowing they have their technicals down cold.
Goldman has diluted their pool of talent a lot by trying to reach certain diversity quotas. But Goldman also has the name advantage outside finance. You could get stuck with a shitty group at Goldman. If you're looking to stay in finance for the long-term, I would say Evercore M&A takes the cake right now.
You'd be delusional if you think the average Evercore analyst exits better than the average GS TMT/FIG analyst. Again, it's a self fulfilling prophecy. I can guarantee that when on-cycle kicks off, we tell our HHs to reach out to GS/MS on top of EVR. An analyst who is competent will do well with regards to buyside recruiting from either shop. No advantages afforded to Evercore over top groups at GS.
Sure, from TMT and FIG the PE exits will likely be similar (I'm assuming by your name you work in PE). But outside that, yes Evercore will do better on average than every single other coverage group at GS including industrials and healthcare. Also hedge fund exits are better out of Evercore than GS FIG nowadays. Not sure about TMT. Tell me the last time a GS analyst went straight to a tiger cub. I can count at least 5 from Evercore.
I don't have an opinion one way or another about GS vs EVR but I am not comfortable with this "Goldman has diluted their pool of talent a lot by trying to reach certain diversity quotas"
What assumptions are you making here?
Evercore doesn't care about diversity? I don't think that's the case. Evercore has some of the most diverse group of junior employees. Not that this matters that much, but vault put evercore higher in diversity than goldman, specifically for banking.
Goldman diversity hires are inferior. Again, not true and this is just wrong.
I’m not at all implying that diversity hires are inferior. Even without quotas, banks will always have diversity kids. They just won’t sacrifice talent to reach silly meaningless quotas. That the talent pool is diluted is just a statistical fact. Ftr, I would classify as a diversity candidate.
Im not sure who is leaving GS to go to EVR. I cancelled my EVR interview once I got a GS offer, couldn't be bothered to even try. FYI from my group at GS the exits in one year were: 2 top tiger cubs, 9 large cap pe, 3 mm pe, 1 mid-sized hf, 2 people stayed. Soooo?
RBC.
Evercore has a great culture, basically the same exits, and higher pay. Seems pretty obvious unless you know you’re going to get TMT.