I have offers from HL Corp Fin (mostly m&a) in a smaller industry group and Prudential Capital in its Workouts group. I was wondering if anyone had any insight into the quality of the work and training, exit opps, and other important pros/cons beyond compensation.
Thanks!
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what offices? location is important for exits
HL is at a regional office in the midwest (not Chicago) and PCG is in Chicago.
I assume your offer is for Minneapolis office of HL. I would definitely go with HL especially if it's for one of their M&A industry groups. Their Industrials are strong in Minneapolis office.
Does anyone know much about the exit opps and prestige of PCG Restructuring?
PCG is a respectable capital provider. Normal exit opps would be mezz funds, commercial/corporate banking, etc.
But, from the sounds of it (loan workouts), your exit opps would be into distressed debt funds (several of those in MPLS - think Wayzata) or consulting (restructuring groups).
What are you trying to do nub? If you want to get into distressed/Rx/Turnaround, may be decent to work for this Pru position. But, HL's Rx practice is strong, so you could use the M&A position to parlay into Rx.
If you want M&A, clearly HL is the better choice. As I have stated in a few earlier threads, MPLS office is probably on par with LA at the top.
HL will provide structured training, work hours are long (though standard, 85-95/wk), allows you to wear whatever you want (guys come in w/flip flops and t-shirts) and feeds into MM PE and mezz funds.
Comp is almost guaranteed to be higher at HL b/c this Pru position isn't origination.
I honestly do not have a plan going forward, but distressed HF/PE is definitely a route I am interested in. I just wanted to hear some opinions either way, and everything you have said definitely makes sense. I am curious why you consider MPLS at the top though. Is this office well known or are you referring to the high presence of senior bankers in the office?
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