JPM/Citi/BAML vs PJT/PWP
These are for London.
Where’s best to start career off. I’m kind of already torn between JPM and PJT
If you had to choose one which would you choose?
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JPM >>>>> PJT
Could you possibly expand on why. Is it mainly due to prestige or other factors like culture etc.
Really comes down to what you want. Also, just to confirm, do you have offers at all 5 of those? In general, the most recognized approach in London is to go to a BB instead of EBs with the good BBs (American BBs) usually opening most doors at major funds. EBs in my opinion could easily give you a better learning experience given the higher degree of responsibility early on but the experience is much less standardized. As such, it is not certain at all if you get good deals under your belt by the time recruiting starts which is not ideal. Also BBs are usually more fun with EBs just being a bunch of hardos.
Within BBs, it would probably go JPM > BAML > Citi, but none of these are as consistent as GS where each team is top-notch. So probably go with JPM but certain teams might beat each other out.
For EBs, these are very different offerings and it mainly boils down to whether you want to do Restructuring (which will be at least 2/3 of what you will do at PJT - some people report even 80-90 percent). PWP is a very good firm but has clear areas of focus in my opinion which are Germany and Industrials. This also affects exits with more people going to PE from PWP whereas you see more PC/SS/HF exits from PJT given the lack of M&A deal flow.
As someone who is interested in PE, I would probably say: JPM > BAML > Citi/PWP > PJT
Thanks, this was really helpful. Yes I
PWP and PJT place much better than BofA and Citi. This is bad info^^^… what do you mean PWP and PJT have lack of M&A deal flow LMFAO? You’d rather work in a coverage group at Citi??
I use to work at an EVR/PJT/PWP/LAZ and can assure you that you are incorrect. We had people who lateraled from BofA/Citi.
The post is specific to London
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