GS vs EB (PJT/LAZ/Gugg)
Hi all,
Ignore my title I’m an Associate.
Curious how you would compare Goldman‘s new cross markets team (middle market) to an EB. The Goldman brand is obviously very strong, but don’t know much about the cross markets group. Seems like one can get a bunch of reps doing more middle market deals up to $2bn (which is actually quite big), but not sure about the culture. Trying to understand if this team is sustainable long term. Would also seem deal flow is very solid. They also recently hired some MDs from EBs so clearly growing. The group also seems large with many sub verticals. Is this team well respected within Goldman? How do they interact with the regular coverage groups?
At the EB, the group seems like it has a better culture and better comp (but obviously nothing is certain). Obviously has the benefit of also doing larger deals than just middle market. Comp matters but shouldn’t over the long term, right?
If I’m interested in a longer-term career in banking (obviously have a long time to figure this out) how would you think about the puts and takes between these teams? Feel like culture is very important but on the flip side the Goldman brand is very helpful over a career and that team should have significant deal flow.
Based on the most helpful WSO content, here are some key points to consider when comparing Goldman Sachs' new cross markets team to elite boutiques (EBs) like PJT, Lazard, and Guggenheim:
Goldman Sachs Cross Markets Team:
Elite Boutiques (PJT, Lazard, Guggenheim):
Considerations for Long-Term Career:
Conclusion:
Ultimately, your decision should weigh the importance of brand prestige against the cultural fit and deal experience. If culture and long-term job satisfaction are paramount, an EB might be the better choice. If the Goldman Sachs brand and the growth of the cross markets team appeal to you, that could be a compelling option as well.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/qa-senior-banker?customgpt=1, Which Bank for Career Bankers?, https://www.wallstreetoasis.com/forum/investment-banking/who-has-heard-about-these-teams-citi-tts-deutsche-gts-jpm-tss-baml-gts?customgpt=1, Where is the compensation in banking? Is it worth taking a pay cut for the long-term prospects?, BB Analyst Impacted By Layoffs - Looking for Insight
Congrats on Guggenheim
Wouldn't take GS Cross Markets over any of the EBs. You'll be limited to small deals (up to 2bn EV) and the exit pipeline is not established. Don't be fooled by the GS brand
Would give different answer if analyst given exit opp differences between GS cross markets vs an EB : but as an associate GS name might be worth it for exits like corporate related things. Also, GS crucially works across products meaning you have more things to sell clients as a senior vs at an EB, so theoretically should be easier to bulid a book.
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