Hi all,
I've been trying to decide between offers from a top tier BB (GS/JPM/MS) and a top tier EB (Evercore/Centerview/PWP) for the upcoming Summer of 2018. Both offers are London based and no teams have been decided and likely won't be until much closer to the date of starting. I've been trying to come up with the pros and cons of both:
BB - Better comp, bigger 'brand' name but less chance of converting, saturated intern class. EB - More exposure, better training, higher conversion but comp is lower and perhaps more pressure due to smaller deal teams.
Would really appreciate if you all could maybe offer some industry insights!
I don't have any advice as to which offers you should take but remember this. The difference between these is very minimal, much less than you make it out to be in terms of your career development. Go where you like the people the most, honestly. You can't go wrong on this, it's physically impossible to pick the wrong one.
Congratulation and well done!
That does sound like some solid reasoning, thanks for the encouraging words!
If you're planning to stay in London for a bit go with EB. All the names you mentioned are stellar and in the London banking community all well know (even in most other European capitals). You'll probably make better connections with an SA class of 10-15 than with one of 30-40 at BB.
But also have an idea of what industry you want to specialise in. Centerview gets crazy pharma/biotech deals and thus would be a great fit if that is your target industry down the line.
Also from what I heard, if you're in sectors like M&A at BB you'll do lots of number crunching in a sort of 'abstract' way. At EB it'll also play in with the strategy behind the move (e.g. PMI strategies, synergies and how to exploit them).
Just my $0.02 and of course, congrats!
I had never really thought about it that way with regards to target industries down the line, is there a way to learn about which banks have strong deal flow in certain industries rather than just looking at past deals? I do think the smaller intern class is definitely a draw!
Unless you have access to Thomas Reuters Eikon, its kinda hard to see. Besides past deals my best bet would be to look at interviews online (e.g. what sectors they talk about in interviews) or even some 'free' information released on their website and what industries it looks into. Otherwise simply ask people in that firm - I had a contact at CS who is a Pharmaceutical Equity Analyst and they are also a powerhouse in Pharma/Biotech
Fair, I'll have a look - thanks!
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