PJT Best EB in the next 5 years?
Hi everyone,
I just wanted everyone's opinion on PJT's positioning in the near future.
I am currently holding an offer to join them as well as two other firms: EB (think HL/Lazard/Baird) and one from a top BB (GS/MS/Citi). I'm a bit skewed towards the BB because of the international exposure and doors it may open in the future, but PJT definitely offers a (marginally) higher comp and the Bx legacy is not to be underestimated. If it was another boutique (PWP/CVP) I would take the BB directly, but PJT seems to be growing a lot and i think it has the potential to be the clear best EB in the next 5 years.
What do you guys think?
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Bro scoops up offers like a kid in a candy store
I’m wondering how if HL and Baird are “EBs”
Is this UK or US
I would definitely stay for the BB - PJT is a great bank, but a BB is a bigger platform for growth and diversified experiences, in particular if this aligns with your gut feelings during the interview process. Hope this helps
Take GS TMT, FIG, maybe Industrials and MS M&A over PJT , any other decision here is slightly crazy. Going to Citi under any circumstances for you right now is questionable at best.
This is the advice for optimizing for finance exits.
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Why
How strong is GS FIG exit? Heard it's too specialised
GS FIG exits really well. Analysts in recent years have gone to UMM/MF PE
frequent exits to H&F, Apollo flagship and some one off to KKR, Bx (not BCP), general atlantic etc. has to do with self selection into GS FIG and target heavy analyst class
Unlikely they will ever overtake evercore's m&a practice. Still struggling in league tables in that regard.
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We don't care we have Rx
brother in what universe is citi on the same level as GS/MS and since when are Baird and HL elite boutiques???
PJT is an outstanding firm but it's M&A practice is not as good as CVP or Evercore (that's just an objective statement). Also wtf r u talking about with underestimating their BX legacy. I get that it spun out of Blackstone but who cares lmao
Basically his BB offer is Citi
And his EB is Lazard
The amount of PJT glazing is insane. Wasn't ever top-tier. They hired pretty aggressively sure but time will tell if these are good investments(as with Moelis, and the other Banks that went on a hiring spree...)
If you think it has the potential to be the best EB, go for it since you will get good opportunities at a growing firm. If you get it wrong, you still will get decent experience and wages.
PJT is an outstanding shop and has been underestimated due to their smaller size. Although the firm isn’t as high up in the league tables you need to understand that volume isn’t the same as deal value, quality, and complexity. PJT is top 10 so far this year in league tables and has worked on marquee deals such as the GE spin-offs and Capital One-Discover. With firms like evercore being 4x the size of PJT and the BBs10x plus, with an analyst class size of 20-25 PJT is punching very much above their weight in terms of the level of responsibility analysts are given and client exposure. Yes, the other firms will have more deal flow globally but that’s just as a result of their sheer size. Need to account for deal flow/head and the level of responsibility you will get as an analysts. The firm has also hired a ton over the past year - head of IB and tech at CS, 2 evercore SMDs, consumers partner from centerview, MDs from GS and MS, and a ton of others. The firm also advised the US Government on the CARES Act - the US Gov won’t come knocking if they didn’t think they were getting the best advice.
If you want to chase clout from your random cousins sure, go with GS, but from an industry perspective, PJT is extremely prestigious, and you get paid more, gain more responsibilities and client exposure, while still getting the same top tier exit opportunities. If you really take a look at the firms growth in only 8 years, and the run way for opportunity it’s a non brainer what Paul Taubman is building.
Jesus Christ. Please Calm the Fuck down.
WSO used to be a forum to gather information and now its turned into how many accounts can be made to hype up everyone's own bank.
Congrats on PJT..
Also PJT doesn't need to chase shitty deals for revenue due to their #1 Rx practice so they can afford to be picky with the deals they do. This is better for actual analyst experience but obviously this isn't reflected in league tables which is why they aren't an accurate way to judge banks - also shitty MM balance sheet banks statpad their deal fees as like the 5th advisor because they did some of the financing which is why they rank higher.
Notice How neither evercore or cvp does this and they're still top 10? Kid you really need to do more research. Just do your shitty pjt london internship (I can tell by the tone this is the same kid from the uk forum) and you will see the light yourself.
Thanks Camberview Analyst
Overall answer to your question is yes but funny how nobody here notices this is an obvious troll post
Overall answer is no but yes this is clearly a troll post. Absolutely no chance pjt is overtaking evercore m&a. This goes beyond your intern brain, you dont understand how much evercore is scaling globally. It is the modern standard for an 'Elite boutique'. 5-10 years from now All eb's will be more widely recognised and decades from now they'd probably be nearly as widely known about to the public as gs/ms/jp is. All it takes is a few headlines of bankers living opulently across the globe during periods of global economic distress, a few movies, politicians from ebs etc and at that point you get the globally known investment bank brand that your average BB is stamped with. When we get to that point, evercore would be the gs of the eb''s which the ft is already prematurely referring to it as now: https://www.ft.com/content/51c51a6d-4727-413c-98f9-458afdf51ed0. Look into the history of the current ceo too and you can see why this really and truly is the gs of eb's. PJT and CVP likely to be the MS/JPs of ebs, though this is more likely to be Laz instead of pjt considering longer history + superior global presence + lack of pjt scaling global operations significantly + better expertise in the division which is the epitome of the banking brand globally (M&A) .
Ain't reading all that put your Rx exits on the table
Baird EB, hello?
Congrats on Lazard
Congrats on Baird and Citi!
Congrats on UBS
Congrats at Baird/Citi
Assuming the PJT offer is for M&A, it's pretty much a wash between Lazard and PJT assuming both are for NY (I think PJT is slightly better though). I think it only makes sense to go for MS or GS over PJT if you're going there for a top group. At MS, that would probably be M&A and Tech while for GS it's probably just TMT and FIG, in my opinion.
PJT M&A is mid af. Look at league tables and you’ll see the rest of the EBs stomp them (not even close). PJT is only clouted because their RX group is so good.
I mean they just did CapOne/Discover and YTD have advised on $100B+ worth of M&A. Only EB above that this year is Evercore. Obviously just 1 quarter and change thus far, but disagree with being well below other EBs
Congrats on Citi
You've got some great offers there, congrats man!
Many people have said it before me but I'd take BB if it is T1 (GS / MS) and only consider accepting PJT if the BB is T2 (Citi) - no hate on Citi, it's a great bank. But so is PJT ;)
Let's assume that it is PJT vs. Citi. In that case, the platforms are equally good and it is more important what you want to do / what kind of environment you prefer. But don't take PJT because they might become the best EB. Sure, they have a great trajectory. But that space is so dynamic... anything can happen.
HL and Baird are not EBs. They are both good firms but not in the same league as Centerview / Evercore / Moelis / PJT etc.
PJT will do well but they aren't scaling as fast as Moelis / Evercore etc to be a top Boutique in terms of league tables and volume.
Congrats on Baird and Citi.
Congrats on Baird and Citi.
Congrats on Baird and Citi.
To any prospective monkeys - do not be deceived by the sheer amount of PJT meat-riding on this forum.
It’s the same three people pedaling this shit since November now.
PJT is not that strong of a bank and in a completely different league to the higher-end BB’s.
Fully agree. Any look on the league tables will confirm your sentiment. They're the back of the pack (besides Greenhill which isn't even an EB). Don't wanna hear any of the bs about how they're a deal flow per head bank when their deal flow per head is still lower than their competitors. Way too much PJT meatriding on this forum.
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