Lazard vs PWP/Gugg
Given Lazards recent dip in RX, exits, deal flow, and loss in MDs are they worth taking over a PWP/Gugg offer? Or is their historical prestige worth it still. Asking for full time recruiting purposes and offer decision making
Trending Content - Investment Banking Forum
| +138 | UBS Catastrophic Q1-Q3 26, M&A -17%, Outside Top 10 in Americas, EMEA & APAC | 38 | 1h |
| +60 | PWP acquisition by Piper cancelled | 23 | 3h |
| +46 | No return offer - UPDATE. | 12 | 58m |
| +29 | Evercore poaches Baird DC Defense Team | 18 | 21h |
| +22 | Best Houston Banks for Culture in 2026 | 15 | 41m |
| +21 | Normal for lateral process to go +2 months? | 4 | 1d |
| +18 | Lack of talent in IB! | 19 | 9h |
| +17 | Internal lateral from coverage to M&A (focused on coverage) | 4 | 22h |
| +15 | How standard is weekend work in IBD? | 7 | 4h |
| +15 | Discussion Transaction Experience in Lateral Interviews | 3 | 3d |
Career Resources
Based on the most helpful WSO content:
Lazard:
PWP (Perella Weinberg Partners):
Guggenheim:
Decision Factors: - Prestige vs. Current Performance: Lazard's historical prestige is significant, but recent performance issues in RX and deal flow might be a concern. - Culture and Growth: PWP offers a strong culture and is growing, but may not yet match Lazard's exit opportunities. - Specific Preferences: Consider what is more important for your career goals—prestige, current deal flow, culture, or exit opportunities.
Ultimately, the decision should weigh Lazard's historical prestige and strong exits against PWP's growing reputation and culture. If Guggenheim is a consideration, further specific details would be needed to make a comprehensive comparison.
Sources: PWP LA, Lazard LA, and Houlihan LA (RX), NY Lazard vs PWP (SA 2024), (urgent) if you had to choose 1 for NY office: LAZ, PWP, or MOE?, Request for Restructuring League Tables 2018, Lazard vs. Greenhill vs. PWP NYC offers for 2021 SA
Hot take. Gugg rx is better than both rn from a mandate quality perspective. At least recently they’ve been on much better debtor sides. Lazard is obviously falling off a bit and PWP has seemed to slow down as well. Exits still lazard/pwp
How about vs Moelis?
Moelis is leagues better than PWP/Gugg/Laz for Rx
Exits wise I’d probably laz = moelis > pwp > gugg
Lazard is falling both in M&A and RX in terms of deal flow/leauge tables. I would definitely take PWP because better experience there and exit differences are practically non-existent/splitting hairs. Gugg I would go either way depending on if your number 1 priority is exits or actual analyst experience.
Lol the Lazard slander on this site never fails to amaze me… Lazard has been at the top of M&A for 150+ years, and is a top tier institution by all accounts. PWP and Guggenheim are fantastic places as well, but anyone in the world of finance will tell you they don’t compare to Lazard (unless you are a 19 year old college sophomore of course)
Someone can't tell that this is an RX thread.
It’s not, rx is just one point made by the op
Regardless of M&A or RX performance you’d be r*tarded to take PWP or GUG over LAZ unless it’s for culture reasons. Exits at LAZ are still top tier (especially for RX) and that won’t change for the next 4-5 years. LAZ is consistently up there with evercore for MF placement while GUG is basically nonexistent and PWP is nowhere near. Sure, if you want to be a career banker maybe Lazard isn’t the best option but for 99% of summers/FTs looking to go to PE it’s absolutely no question LAZ > PWP/GUG.
seriously unnessecary usage of R there ???
How fucking weak are kids these days?
Eos tempore doloribus omnis voluptatum. Aliquid perspiciatis nobis repellat enim. Nostrum deleniti inventore quod voluptas voluptas in officiis laboriosam. Optio animi ut est nostrum voluptate ipsam rem. Consectetur laudantium earum illum neque. Eaque repudiandae architecto est at possimus voluptatem rerum.
Provident quia rerum inventore magnam nisi deserunt. Libero illo et explicabo aut ipsum debitis autem. Voluptatem harum quod voluptatibus qui impedit culpa eligendi. Ea et nesciunt libero magni unde voluptate. Hic ab ut temporibus dolorum qui tempora aut.
Eligendi sint minima qui tempora excepturi. Occaecati et quo officiis et debitis ducimus. Itaque asperiores totam est. Explicabo expedita dolores aspernatur dolorem autem omnis. Enim perspiciatis et quas enim. Laboriosam aut eos culpa nihil.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...