PJT vs BNP M&A

I'm currently in advanced stages for an M&A investment banking off cycle internship with both PJT and BNP Paribas at one of their regional offices (not London).

Assuming I receive offers from both, which should I choose?

I recognize that PJT is more prestigious, offers a stronger brand name, and typically pays more (and it seems to provide better exit opportunities, although many of these are within the credit space). On the other hand, BNP Paribas ranks higher globally, in Europe, and in some regional M&A league tables.

Given these factors, which would be the better choice? of course I am assuming I’ll be able to convert.

Thank you in advance!

10 Comments
 

PJT, only case you could hesitate would be if it were in Paris: the PJT team in France is very small/new and I do not think they're very active yet while BNP in France is obviously strong and they consistently win mandates with top French corporates. But even in that case, I'd go for PJT: you'd have better exits and could try moving to London if that's you want

 
Most Helpful

The PJT meat-riding on WSO is insane - this is a perfectly reasonable question but have a look at these replies. PJT is not all that

 

I work at BNP, the fact you're even asking this makes me think BNP is the right place for you!

No but seriously take PJT unless you want to work a 9-5 for 10% bonus (in a good year). Only reason BNP may rank highly in some M&A is because we massively leverage balance sheet and essentially buy mandates with loans.

 

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