Don’t think you can necessarily go wrong with either, but I feel most people would lean MS. Exits from both are likely comparable if you want to do something within life science investing, but Lazard only does biopharma M&A. MS would give you exposure to cap markets, and my understanding is their healthcare group also covers other verticals outside biotech too (i.e. digital health) so you’d get broader exposure. MS brand also better broadly speaking if you ever want to transition into industry.

From a culture point-of-view, I think it’s a no brainer in favor of MS. Laz HC culture is infamous, and you’d likely re-recruit fulltime anyways to move to a different healthcare group.

 

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