PJT Secondary Advisory in 2023
Does anyone have any info on the PJT Secondary Advisory team? Any info on comp, culture and exits would be appreciated. Also how do they compete for Evercore PCA for example?
Trending Content - Investment Banking Forum
| +449 | Don’t work at UBS - UBS Sucks | 42 | 16h |
| +330 | Article - UBS’ Investment Bank Keeps Losing Ground | 43 | 16h |
| +215 | Should My Intern Get a Return Offer? | 59 | 15h |
| +58 | Getting Laid in IB? | 28 | 18h |
| +56 | F*ck it I'm Going to Med School | 19 | 2d |
| +50 | Living in greenwich as an analyst? | 10 | 3h |
| +36 | Intern keeps sleeping at work - what to tell them | 18 | 6h |
| +28 | Nauseous every morning for past 3 years in IB, anyone else? | 20 | 8h |
| +27 | NYC Associate Budget | 9 | 1d |
| +27 | Going out / social schedule as AN1 | 14 | 21h |
Career Resources
Comp: Historically slightly higher than M&A but this depends on which bucket you get and the year (bonus pool). Personally the pay differences (maybe 5-15k for analyst one) between secondary advisory and M&A is so minimal for analysts and associates I wouldn't factor it in.
Exits: Same as Evercore PCA. It is regarded as a top shop (big ones are Evercore/PJT/Jefferies) in the space and handles a lot of LP deals (if Evercore PCA is 50/50 GP/LP, PJT is 35/65 GP/LP). Although GP is growing faster and has a wider variety of deal types, LP is better for exits (this is debatable so let me explain). LP deals - like the CALSPERS 6 billion dollar deal led by PJT, provide exposure to the secondary PE deal teams which is where most analysts want to exit to. Additionally, LPs go through a very similar sell-side process to M&A, so when you transition to PE you are more prepared.
Leaders in the space are EVR/LAZ/PJT actually. They have been dominating the rankings by PEI
is there any potential to join a traditional buyout or tech growth equity firm, or are you basically siloed to secondaries PE?
bump
how are the hours
Sorry, but EVR is known for their weakness on the LP side. They certainly win big books from time to time but not even they would say they’re a 50/50 shop. Obviously splits will vary by what types of deal are in season, but PJT historically is the closest you’ll get to 50/50 on the secondary sell side.
Ut explicabo est occaecati omnis consequatur non. Tenetur inventore et omnis aliquid.
Quis sunt aspernatur neque suscipit nobis et ut. Ea animi quo possimus dolor. Qui ex reiciendis pariatur mollitia harum sed. Enim non et omnis quia perferendis. Facilis consectetur provident velit eos alias quas quis.
Modi aut quia voluptatem. Ut unde sunt possimus quasi temporibus quia tempore. Perspiciatis et exercitationem architecto possimus occaecati non. Omnis earum voluptas doloribus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Velit quo labore debitis porro enim. Rerum deserunt sit et molestiae debitis vero libero aliquam. Mollitia quo itaque dolorem. Ducimus sint quae ea qui autem quas quos.
Officia amet assumenda sit sed. Tenetur qui rem accusantium. Ipsam voluptatibus possimus est quia vel perspiciatis repellat. Et voluptas natus debitis non minima voluptatibus blanditiis. Sequi repellendus est repudiandae repellat velit voluptatibus. Aut quia delectus illo.
Necessitatibus maxime dolore iste est voluptatem voluptas id. Temporibus voluptatem adipisci ad vitae corrupti. Dicta facilis ducimus vel fuga blanditiis inventore. Laborum dolores impedit nesciunt aperiam.