Sophomore at a target (UChicago, Duke, Northwestern) and it seems like most of the top candidates pursue RX for their SA stint
I am wondering if it is really a smart place to start your career if you don't get one of the top few shops. Sounds like landing a BB is much easier..
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Going to PJT/EVR/HL/LAZ RX. To me, RX is more interesting than most M&A groups and the analyst experience is top notch. The shift towards more kids going for RX is primarily a function of recent exits to vanilla buyout (look at PJT/EVR recent exits).
My two cents are: If you genuinely want to do credit and special sits LT, you absolutely should try for RX. Analysts at shops considered “lower tier” get looks at top credit platforms and HF because the RX world is so small and top analysts have been going to PE. If you don’t want to do credit/SS, there are easier groups to get an offer from that give you MFPE looks, especially from Northwestern/Duke/UChicago. If you only care about exits, you’re betting on yourself getting PJT/EVR or being the one-off analyst at another shop who gets BCP.
I can smell the "congrats on laz" coming
g
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I bought into the same kool aid. The work is more interesting and you definitely use your brain more (chatgpt usage definitely lower compared to coverage analysts). The exits are a bit more overblown. You work at a good group you will get more than enough looks.
I personally dont think its worth the time if you arent interested in it. If you just want exits you will do fine at GS/MS/JPM
The work is interesting but RX bankers probably have the worst WLB outside of BB groups
Honestly its not great but I feel like working for a top coverage group in a BB (the likes of TMT at GS among others) you still do slightly better while having great perspectives. All under the assumption that you like the product of course.
But not sure how WLB might improves as Asso or VP between those options for those who stick around.
When you say slightly better what do you mean? I feel like the places that OP mentioned exit as good as top BB groups. Do you mean hours?
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