Moelis NY vs. Rothschild NY vs. JPM NY vs. Apollo Credit
I have just finished recruiting season, and feel very blessed to have come away with those offers for SA positions. Given that I have no idea what I want to do, which one should I take simply for exit ops/prestige?
Your decision should be between Moelis and JPM. Unless you really enjoyed the people at Rothschild, there is no reason to choose Rothschild over Moelis or JPM. The Apollo position is BO (correct me if I'm wrong). Between Moelis and JPM, I would go with JPM is you want to be a career banker and whichever gave you the best impression group-wise if you want to do anything else post-analyst stint.
Hi Sil, appreciate your input, the Apollo position is front office, on their high yield credit platform. Does that change your opinion?
I'm really not that familiar with that business line, but I imagine that if you want to do IB long-term or PE after that, JPM or Moelis would serve you better, but again, I don't know much about Apollo's high yield credit platform, so maybe someone else can jump in here.
Agree, but I feel like Moelis would be where a career banker would want to be considering the more experience they would get. Also Moelis would have a better brand name in the Finance Industry but def JPM has that global name brand value.
I think WSO drinks the elite boutique Kool Aid a bit too much. Just my two cents, but there is a reason the top guys at Moelis, Lazard, Evercore, PWP, etc. all started at BBs. Again, Moelis is an amazing bank, and you cannot go wrong with either.
JPM for sure. It offers the most optionality, as it has the best brand name outside of finance and is a great place to start as a career banker.
Everyone I've talked to has pushed me towards JPM/Moelis over Rothschild, does anyone have any input on APO?
Moelis: Provides the best learning opportunity as you will be a generalist across industries (strong in RE/HC/TMT) and products (M&A/RX). Exit ops are better than some random JPM group and on par with M&A/HC/TMT with recent NY analysts going to places like Centerbridge. Also gives you the most optionality since you'll be exposed to RX in addition to M&A and that opens doors to distressed debt if you find that to be your sorta thing. Bonuses will be better than JPM and Rothschild.
Rothschild: Great firm for RX and if you want to only do RX, Rothschild would be the best option. However, they don't give group specific offers so it's risky as their M&A practice is definitely a notch below Moelis and JPM. You'll be put into a group and Rothschild divides between TMT, Industrials, and Consumer with TMT being much, much stronger than the other two. Bonuses are low and exit ops for groups aside from RX/TMT aren't too great.
JPM: Has the BB name and is a great firm to have on the resume. Risk is that they include ECM/DCM with IBD and you could potentially be put into one of those groups even if you don't pref them. There's also the headache of the group placement process - everyone will be gunning for M&A/HC/TMT so it'll be tough unless you have a solid contact(s) within those top groups. Exit ops are heavily group dependent. Bonuses are going to be lower than Moelis but higher than Rothschild.
Apollo Credit: Don't know enough to have an opinion.
All excellent options and congrats! Would recommend Moelis unless you can swing a group specific offer from JPM for whatever your top choice there would be. PM if you wanna know specifics regarding either Moelis or Rothschild.
I think you should definitely step up your game. JPM vs. Moelis, Round two. What does anyone else say ?
Do Apollo Credit - Worst case scenario is that if you don't get an offer to go back you can still do IBD at any of these shops after the summer. Just be tactful about rejecting your offer and mention that you'd like to get some credit experience under your belt before doing IBD. Best case scenario is that you are at Apollo FT and it doesn't really get much better than that.
Plus if you decide to go back into banking having Apollo on your resume will separate you from the hoards of analysts in banking trying to break into the buy side with only boutique IB internships on their resume. You will easily be able to impress headhunters and other funds you are interviewing with.
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