PJT M&A NY vs Moelis NY in 2022

Both PJT M&A and Moelis NY have rapidly grown in the past few years. I would love to know how they compare in 2022 in terms of intern and analyst experience, reputation, total comp and exit opportunities!

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In term of M&A, I’d say they’re pretty similar. For RSSG, definitely go to PJT. All of the top independents have their pros and cons, but generally they will all provide equally good experiences, with a slight difference in exits (EVR, CVP, PJT, PWP, MOCO).

 
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How they do the business is very different imo.
 

Bread and butter of Moco is sponsor-backed sell side mandate. Size of the deal won't be too big but you will get good reps and exp working with sponsors. Probably that’s why Moco exits are more in MM/UMM with frequent distressed shops (generalist model - heard it’s no longer a case there tho), than MF.

PJT is more of a whale hunting model. Doesn't mean you won't get reps but in a lesser degree compare to Moco. Once you get a deal done, it would be looked favorably. I feel like exits are better at PJT if you’re looking at MF and HF out of banking program.
 

Comps I believe is similar and you can't go wrong with either, but I'd personally go with PJT for culture.

 

This is spot on. Moelis will pump out 100+ sell sides a year primarily in the sponsor backed MM/ UMM space. High reps but you’re really just running outsourced process. PJT will do 30-50 deals a year with an average ticket size in the $3-$5bn range. Quality of experience will be much better given the focus on highly strategic large cap transactions. 

 

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