PJT RSSG vs. HL Rx vs. Rothschild Rx
Title says it all. Which would you choose and why.
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Green hill rx
No brainer - pjt. HL is overrated
Second that HL is overrated. Creditor work sucks ass and their debtor mandates are pretty lackluster. Have worked across from them and was not impressed at all by their work. Very unorganized
Creditor work has become a lot more sophisticated as creditor on creditor violence has increased. Advising the fulcrum is also a lot more intellectually engaging as you work with some of the top HFs and guide them in a) maximizing their recovery and b) positioning the post-reorg entity for monetization.
Also, debtor side work is way more time intensive while you can work on multiple creditor mandates simultaneously. I’d argue that creditor side mandates provides better experience for the buyside because you are thinking more as an investor than as as advisor.
HL gas industry groups as well, which provides a slight advantage to PJT / Rothschild (who needed to partner with Intrepid for many of their energy mandates). Rothschild lost a lot of their top bankers to TRS (now at Piper).
If I were to go through recruiting again, I think firms like Evercore / Moelis / PWP / Lazard where strong coverage groups help win mandates on both sides. PJT / HL / Ducera are RX-focused firms and are not as active in M&A. Rothschild is probably a tier below the above firms.
Real question is why did you put RSSG for one and Rx for the other two?
RSSG is restructuring and special situations group. It's just what PJT calls their rx group.
yes but HL calls their restructuring group FRG and yet no one uses that acronym
PJT RSSG so that I can flex on WSO and have all the prospects drooling over my role.
Real answer: PJT RSSG pays better base and bonus than HL RX
Source: I work in HL RX and the pay of friends in PJT is higher
Do you know approximate numbers for both groups? I've heard that HL RX pays much more than HL CF so can't image that the difference between HL RX and PJT RSSG would be that significant.
PJT makes c.25% more all in comp
Congrats on Rothschild
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