Moelis NY vs. Lazard NY
Hi everyone! Sorry in advance for another one of these posts. I'm lucky enough to have an offer for summer 2022 from both of these firms and have to decide soon. I'd appreciate any additional insight anyone might be able to provide - I have some existing thoughts outlined below but would appreciate any other commentary
Moelis Pros: really solid exits, above average pay; a LOT of responsibility and exposure to tons of deals at a junior level; people that I spoke with really helped me out in the process and I feel like they were really rooting for me
Moelis cons: hours are bad (?) - although the folks I spoke with said it has gotten better (maybe take with a grain of salt?); wider bucket ranges (according to this forum); maybe not as recognizable/strong of a brand as Lazard; my sister doesn't work there
Lazard pros: more recognizable brand; slightly better hours(?); also strong deal flow especially on large deals
Lazard cons: gave off more of an "elite"/preppy vibe from the people that I networked with - as a non-target I put this as a minor con; didn't feel as much emphasis on senior folks helping juniors exit
Return offer rates seemed to be high from both places based on my networking but that's obviously a big consideration for me too
Would really appreciate any thoughts. Huge thanks to this forum, it's been an indispensable resource over the past few months!
Don’t know much about Lazard in the US but the advantage of Moelis is getting some reps in as a junior working on mid market deals while still getting some exposure on large cap transactions so you have the benefit of both.
Also given lean teams you have more exposure to seniors and clients, however maybe a bit less common to outsource research to India (although there is a 24/7 NYC PPT team that can turn formatting overnight - not sure about Laz)
Also working on all products as a first year means you know some people and can gain goodwill sometimes which you wouldn’t if you were just the sector/m&A/ecm guy
con is, as most good places right now we are drowning in deal flow (although the firm is recruiting so hopefully should improve)
Are you diversity?
consider that Lazard is much more global, while Moelis is focused on US
Huh what?
I have only worked on International/cross border deals since I joined. Also Moelis London (and US) help quite a lot on some of the APAC and mostly Middle East deals which I don’t think would be the case at Laz..
I heard from HHs that Moelis is a step below Lazard in London, you are right I should have said Europe
I interviewed at both 2-3 years ago so might be a bit dated but still have friends at both so feel I can comment here.
Fit: Moelis is quite nerdy while Lazard is quite preppy, see where you fit in here. Fit is actually quite important given how much time you spend with your coworkers, obviously outliers at both but general thoughts.
Generalist vs Group Specific: I personally always saw value in having a vertical focus rather than being generalist. When you're a generalist, it's hard to gain true knowledge of a sector because you're hopping around from group to group and will never get a true feel for industry trends, exciting companies etc. That being said, at Laz, you would run the risk of potentially getting a really shitty group whereas at Moelis you run the risk of constantly being staffed with new teams and not understanding industries / developing relationships with senior people.
Hours: I think both are generally pretty bad. At Moelis, its a little easier to hide and find certain groups that might be better whereas at Laz if you're at a group with bad WLB, you're screwed.
Brand: Think Lazard is slightly better, just an old-school firm but you're splitting hairs here.
Pay: Moelis could be higher but could also be a lot lower, which is not really a great feeling when you have to consistently grind for a bonus.
Work: Probably pretty similar realm of deals, Lazard will do more large deals (not sure now but when I recruited) and will pitch way less. One of the worst things about Moelis is how much time you waste on endless marketing work.
Not sure if this pushes you in either direction but my overall take on the two.
I work at one of these firms with close friends at the other. This is spot on.
I can vouch that Moelis is good. Lazard is good too from what I know about it, but prob know more about Moelis just based on my own person exp
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