I have offers for full-time positions at the following three banks:
Perella in San Francisco Houlihan Lokey RX in LA Citi M&A in LA
I come from a West Coast semi-target and I'm looking to get into PE on the West Coast after a couple of years (Oaktree, H&F, Silver Lake, etc).
Thanks
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tough choice. personally i would go with perella. they place very well into PE. SF is a nice city. Their SF office is focused on TMT. you can differentiate yourself from the BB crowd when it comes to buy-side recruiting.
Citi M&A would be a very close second.
hands down perella
Congrats! Definitely from USC :)
A lot of the HL guys from the FRG told me that they place very well into distressed PE and HFs.
Has there been past evidence that Perella or Citi places better?
are you interested in distressed PE/HF? if so, take HL FRG
if you are interested in PE/HF in general and want to cast a wider net, I would take PWP. they are strong in restructuring to and you will work on restructuring deals as well as M&A.
A simple search on linkedin shows that PWP places very well onto buy-side.
i would probably rank them in the same order that you used to list them here
What makes you say Citi La is terrible?
I'm wondering as well...
$40 for dinner... i need to switch banks
Haha they are all a bunch of USC kids.
Citi LA does have a track record of sending analysts/associates to good MBA programs - don't know if that impact your decision as well.
Citi LA worked on pretty good HC deals if I can recall, but recently an influential MD allegedly left for Citi HK.
anyone who has actually worked on the west coast can see right through the false information that is being spread above (presumably people still in school)
http://www.wallstreetoasis.com/forums/use-wso-with-caution
Wow, this got side-tracked pretty quick...
Does anyone care to really rationalized why they think Citi LA would be a bad experience?
You will get a chance to do both M&A and restructuring at PWP, I think that basically give you the most options post your 2 year analyst program.
this.
I would not choose perella.
hl restructuring first, pwp sf close, and citi la a distant third
all three are good. go where you fit in the best.
You're absolutely insane if you choose any of those banks over PWP.
PWP SF wrapped up recruiting 2 weeks ago, and they gave out one offer
I thought PWP SF wrapped up recruiting 2 weeks ago, and they already gave out one offer
I agree with PWP choice. Top notch shop.
too many college kids on the site...
take hl frg and dont look back. solid shop, top notch rest practice. You will have opportunities into top notch distress pe/hf and also fundamental shops
pwp sf isn't that great, it's ex-lehman guys if i remember correctly...and lehman tech wasnt great to begin with. I didnt hear pwp to be on any of the big deals (except the failed seagate deal?) while I was in banking and they definitely dont place well into PE. In NYC, they discourage you from leaving, not sure if it's the same case in SF
Citi LA...they dont place anyone that well. They arent a bad shop but you just have 5-6 firms in the westcoast that already filled up all the spots so they are left with whatever they can get
Has this always been true? The people I interviewed with told me they had several billion dollar deals currently in the pipeline.
Keep in mind that perella gets a lot fairness opinion stuff, so they could be "technically" on the deal
Also, a lot firms have "multi billlion" deals in the pipieline but they might never close them. Being on the sellside of the transaction makes things easier but it is by no means a guarantee. In fact, I have seen those deals falling out when it was close to closing since the price tag was so heavy
tech is being dominated by qatalyst, MS and GS like some people have mentioned, while the rest are fighting are scraps. So it's hard to say which firm is better when they are competing for the 4th spot...
ricqles knows what he's talking about.
As an experienced banker in the West Coast for the past 6 years, I would definitely recommend you take Perella SF. It is a solid firm with great exit opportunities. I personally know a few people there and they have a great culture along with paying very well. After that I would say take Citi LA. They are a solid bulge doing execution out of the office which is some what rare in LA. HL FRG has a rough culture from people I have spoken with and restructuring deal flow is going to be dead for the next 3-5 years.
Take Perella SF and don't look back.
Perella!
Salamati, I also worked on the west coast but I respectfully disagree.
Yup, Walraven's heading up Industrials in NYC. Great group.
All you need to do is do some linked in search.
grats on the sick offers
I have to let them know by tomorrow...
any last comments??
Go with HL
i would throw a few cold calls to the analysts working at those shops and see if anyone has a good advice
Thanks everyone for the input and help.
I made my decision on Friday :)
What did u decide for?
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