Lazard RX vs Moelis vs Centerview

Currently considering between 2 of these 3 for a summer analyst position. All the locations are NY. Moelis and Centerview are both M&A/RX programs, so they let me pursue my interest in restructuring. Which group has the best MFPE, distressed, and/or special sits exits? Definitely would like to exit in that direction. 

And overall, within the rx world itself, which one would be the best out of this group?

13 Comments
 

I’m a little biased since I’ve worked with and against them quite a bit, but Lazard’s crew is excellent with an ostensibly strong culture. They work hard, pay well and reward loyalty. 
 

Moelis rx took a ton of people from Deloitte, they’re solid. 
 

centerview has a good team with some nice deals, but I’ve heard it’s a bit of a logjam as you rise up.

 
Most Helpful

first off, these are all great firms with excellent reputations so congratulations on being in this position. 

there is so much discussion about "exits" on this forum but at the end of the day it really depends on how good you are as a candidate / how well you interview. it's worth noting that a big part of on-cycle PE recruiting is the school you went to and obviously that has nothing to do with where you choose to work. I will say, though, that doing restructuring does give you a leg up when it comes to distressed and special sits PE exits. 

somebody already mentioned this in an earlier comment but there is a group placement process at Lazard and moelis and you won't have complete autonomy over where you end up. for example, you might want to do consumer investing but you get placed in Lazard industrials and then getting that specific consumer PE job might be more challenging. one benefit of Centerview is that it is truly a generalist program and thus it is very easy to tailor a "narrative" to recruiters and PE firms about why you are pursuing a particular opportunity. "I was on one healthcare deal and fell in love with the sector for x,y,z reasons, etc". also, while these are all excellent firms, I think Centerview M&A and Evercore M&A are in a league of their own from a reputation, mandate, and prestige standpoint (no shade to Lazard and moelis - they are great). That said, CVP RX is not on Lazard RX's level (unsure of where moelis falls on the RX spectrum) and tbh I think CVP does separate their M&A and RX analysts so that is worth investigating. 

ultimately, this is your decision but just make sure you are thoughtful about your reasons for choosing a particular firm!

 

I’d take Laz Rx — still one of the most elite groups and it is the most desired group at LAZ NYC when it comes to placement selection. Exits are as good as it gets. 

 

Moelis is the best RX shop out of the three. CVP M&A is strong but their Rx practice is not very good. Lazard is mid.

 

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