how many rx spots are there for sa27
Saw a tier list recently for RX (below) and noticed that there are really only about 15 rx shops total. Does each only take around 2-3 analysts per summer? Is it even worth recruiting if its that comp lmao
Tier 1. PJT, Evercore, HL
Tier 2a. Lazard, Moelis, Guggenheim, PWP
Tier 2b. Ducera, Centerview, Rothschild
Tier 3. Jefferies, Greenhill, Piper Sandler
Tier 4. GLC, Intrepid, Miller Buckfire, RJ, Baird
PJT/EVR/HL are 10ish NY. HL regionals are over a dozen. laz/gugg are your only other direct rx ones with around 5-6(?) each. moe/pwp/roth/part of laz are generalist and you can go for rx group FT. ducera is "gen" now i think but im not super sure on their class size. the rest will all be around 2-3 like you said.
all in all it is still very competitive, especially at the higher shops(greenhill/cvp/maaaaaybe ducera are the only names in the bottom 3 tiers you would take over a good bb like bofa/citi/barc)
you would objectively pick a top BB group (MS M&A/M&C, GS TMT/FIG, JPM M&A/HC) over almost every EB Rx group with the exception of PJT Rx and EVR Rx which becomes a wash in most cases. And you would pick a standard GS classic and an average MS group over most of the other Rx groups on the list. Would pick GHL Rx, CVP Rx, and maybe ducera over the avg bulges (BofA, Citi, Barclays), but would not say they comp to a MS/GS/JPM in a solid cov or prod group.
Edit, objective if you care about PE exits and branding. The only Rx groups that send to the likes of H&F, Apollo, Bx, etc... are EVR and PJT, rest of class is filled with BB (source: check website).
I meant over barc/citi/bofa but I guess more accurate to say mid bb
For reference, Evr rx has 0 people at H&F ( one guy going next year) and RSSG has one. The difference is class size. Per capita, top RX groups have done extremely well for MFPE. Out of the 20 analysts a year between those 2 groups, 10-12 of them will get MF and the others will go to distressed funds or UMM. Top BB groups will not have 50-60% of their analysts go MF.
Delete
At an above mentioned rx shop and recruited extensively and hv friends in groups:
PJT: ~10
HL: 10 (NY), ~4 (Chi)
Lazard: 4 (NY), 2-3 (Chi)
Moelis: generalist program
Ducera: 4
Evercore: >8
Centerview: 2
all looks p accurate and similar to what i j wrote, would add hl also has another 10 spread across dallas, LA, MN
Ducera only be taking OSU kids too lol
Tier 1: PJT, EVR (in order of 1,2)
Tier 2: MOE, HL, LAZ (in order of 3,4,5)
Tier 3: GHL/GUGG/CVP (all same idk)
Tier 4: rest
is the best ranking list IMO based on deal flow and prestige.
instead of MS, why would you disagree – this just my take after talking with people across the Rx boutiques
i didnt MS but probably because this was asking for class sizes not a tier list post
lol valid but the dude literally gave a tier list in his post
Laz is not on the same level as MOE/HL, it's pretty GHL esque in that it has seen much better days, has limited dealflow, but exits wise are still good. PWP is also missing from this completely unless you're saying its worse than GHL.
Would see tier 3 as GUGG/PWP/CVP/LAZ. gugg/pwp have had great momentum in the past years but laz still has a prestige/exits edge. CVP has less dealflow but punches extremely well given how small their group is(their entire rx group is roughly 20 rx majors)
tier 4:GHL/DUC. basically the cutoff for MF/UMM PE interviews
tier 5: JEFF/roths/piper
tier 6 rest
Well said I think your list is better
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