Did some quick math on their recent earnings release for 2020 - obviously a skewed figure, but curious to hear if anyone has insight into the firm's actual compensation at various levels (Analyst, Associate, VP, Director, Partner)
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PJT comp is lockstep so you can safely assume that their part-time janitors get paid $900k.
Did some quick math and I think the 2020 revenue per MD was around $11.3 million. My guess is at a 60% comp of revenue rate, MDs at PJT have to be on average getting $5 mil +.
Evercore and Lazard also both crushed earnings expectations in 2020 Q3 and Q4. Quick math shows Lazard at $9.1m of revenue and Evercore at $7.8m revenue per MD. Moelis also did well but didn’t crush it as hard as the others.
My guess is that the difference between PJT and its competitors in 2020 is exaggerated by the % of total fees coming from restructuring. Blackstone always had a top tier Rx group so it’s not surprising to see PJT really cash in this year.
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