Considering the two options. What would you guys take?
Would love to hear pros and cons, whether the exposure to more products in coverage outweighs the prestige of EB or not, exits
Looking for general advice and thoughts
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SA or FT?
Exits won't be the same field, PCA will mostly exit to secondaries or IR, unless you're at one of the newer desks like structured products which also wont have traditional IB exits. You'll still get paid well though, but you'll be all inning a bet that secondaries stays as popular as it has the past 4-5 years. pretty sure the blackstone SP people are getting comped better than PE rn.
If this is SA, would take some EB because FT recruiting will be influenced more by the name than later on.
If this is FT I would prob take the MM unless its EVR/maybe PJT
Also depends heavily on which EB this is
If EVR: would take if you have any interest in secondaries
PJT: same as EVR but weaker, would say you need more interest in the field.
LAZ/MOE: you gotta really like secondaries
GUGG: run away
Thanks, super helpful! Would you mind pm’ing?
Im pretty sure its just Evercore and Jeffries that are major players in PCA. all the other groups are dogshit.
FYI Evercore PCA does have exits into buyout (MMs), you can also transfer to an M&A group after 1 year if you want
wasnt aware but not surprised on EVR point, theyre the dominant force in the space
didnt include jeff since he specified EB, but agree theyre better than most of the EBs
PJT should be # 2 in the space though
This is misleading. What’s the gp/lp split?
I have never seen PJT do a gp stake mostly LP stakes lmao
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