How is PJT London?
How does PJT London stack up to other EBs and top-tier BBs in London in terms of exits, culture, pay, prestige, hours, deal flow etc.? Does anyone have info on where the latest crop of analysts exited? Is it possible to exit from PJT London to NY MF?
In my view, PJT is top tier EB in London along with Centerview and Evercore, and ofc Lazard and Rothschild. They advise on more high profile M&A transactions than the rest of the EBs barring Centerview, purely due to business model. If you actually take the time to read up on the industry (i.e. following earnings call and reading investors presentation from other banks), you'll see that average deal size of PJT is much much larger than its next public competitor, i.e. see Moelis investor presentation.
Plus, you'll get generalist experience which means access to their top tier RX group, arguably best in finance. Pay is top, culture cant comment on, exit similar proportionally to other places, prestige ex-Blackstone which everyone in respectable finance is aware of, hours pretty standard for banking, deal flow is excellent (I know this because I'm aware that they just started to expand analyst class in London from the usual 5-6 to 10-12 this year, no real insider motive to do that if work is lacking).
Regarding exit from London to MF NY, there is practically zero chance you can achieve this directly without your wealthy father pulling the string. There is absolutely no reason to hire someone based in a completely different market when there are thousands of highly qualified people lining up at your door with domestic deal experience dying to get in.
I think EBs in London are now widely recognised as a top place to be. People keep saying it's not as established as other BBs for like the past 4-5 years now but the truth is due to the low intake, most wouldn't make it into EBs and thus proceed to trash them in all manners possible.
What about PJT vs GS/MS/JPM in London with regards to Culture (Hours), Deals, Perks, Pay, Exit Opps?
In London there is still a big difference between Top/Mid BB + Laz / Roths and the rest of the EB.
Actually I think that the difference is getting smaller with the time but in terms of prestige you will still find it.
Nevertheless Rx is a plus to be considered and so is their pay.
In 2-3 years they may be competing at the same level, not yet.
I don’t think anyone in my graduating class last year (top MSc in Finance) would have taken Lazard/Roths above PJT. I felt it was the most sought after of the EBs and I have only seen one person turn an offer down (for GS)