PJT vs Evercore
Say you could choose between one of the two, which are you choosing and why? (Assuming you placed into solid groups at each)
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PJT RSSG is the best group on the street. Otherwise, Evercore. Generalist model and staffing situation sucks at PJT M&A.
Best group on the street? Like of every group of every bank or just among EBs?
The whole street. Top tier pay, top tier exit, and top tier prestige (ejaculates)
Realistically though, it is a restructuring group so you wouldn't compare it with normal coverage/M&A group. However, it's known for some of the best exits on the street and polished individuals. I've talked to VP/Ds at restructuring practices praising PJT analysts and calling them geniuses
Rx - PJT, M&A - EVR
Honestly I’d argue PJT rssg and Evercore RX from a deal flow perspective are comparable. It’s either one or the other on the big topical deals.
M&A is obviously Evercore. PJT M&A is too hyped up considering it’s 20th ish on league tables. The exits are good tho as an analyst
Evercore is over 4x the size of PJT, so not too shocked that they should be closing more deals holistically. Have a few friends at PJT, and from what I understand, the M&A team isn’t necessarily chasing deals to be high in the league tables, but aim to be selective in the deal process and try to give the best advice to clients. with the M&A group having about 20 analysts per class, the deal value per analysts beats that of evercore, so you get to work on nice deals with a lot of client and senior interaction and a ton of responsibility, which helps with relationships as a 22 year old and your personal skills growth as well. The pay is top of street, exits are stellar, and culture is thought to be on of the best in banking, so great experience from an analyst perspective.
The firm has also hired a ton of seniors this year - poached head of industrials from Citi, 2 SMDs from evercore, head of tech at CS, a consumers MD from Centerview, and global head of IB at CS, among others. Once all the new senior hires assimilate over the next year, you should expect even more deal flow.
This forum tends to down play their M&A franchise, but if you really independently analyze what Paul Taubman has built from scratch in just 8 years, it’s really incredible, and I expect a very solid runway as we come out of these bad markets.
Okay, yeah obv evr is bigger but as an overall franchise they are still stronger EVR and LAZ are the EBs that have institutionalized and that’s the right decision for the overall firm . Your argument on PJT M&A makes it seem more comparable to PWP’s M&A franchise. Which is great but obviously they can’t play the league tables/volume game with competitors either
Just to be clear - Taubman did not build from scratch. Effectively reverse merged with Blackstone's corporate advisory and RX team
As a current analyst, I agree with everything you said besides the culture lol
EVR PCA >= PJT Park Hill
Woah there why all the MS lol Evercore’s PCA team is top of street, Park Hill is good and competes as a close second
It's ok-- this forum is on their knees for PJT lol. It's held in a higher regard than being the US president.
Depends which side of the business you're talking about. EVR PCA is definitely not a leader in each part of the secondary market.
Which parts does it lead vs fall behind in?
r u trolling?
Obviously depends on what you’re looking for but it’s no secret you’ll be working on bigger, sexier deals at EVR M&A. If you’re looking for a more traditional boutique experience, PJT will be the right fit for you. Can’t speak much about the restructuring side of things tho.
How about moelis? How do they stack up to these folk
Glorified Jefferies. They are literally the same firm but obviously moelis has much stronger practice
I heard they’re sweaty at moelis
Eh wouldn’t really say moelis and jefferies are that similar. More so comparable to laz and evr
LOL guy above said “an EB and a MM are the exact same, aside from the fact the MM does smaller and fewer deals”
Yes genius, that’s why there in middle market
Moelis is literally just a middle market volume shop. EVR is trending that way too.
Folk from PJT who I’ve met were more polished and spoke more intelligently. I could tell EVR guys were smart too but more nerdy, at least from the people from my school. Would say they seemed more down to earth for the most part. All really impressive people regardless and both great shops.
That was my impression as well
You’ll be more than fine at either
How does comp compare at the two? PJT used to be higher but not sure if that’s the case anymore. Interested in the long-term pay from AS to MD
My guess is it’d be more closely tied to performance than anything else
From friends, it generally seems like this. Analyst: evr>pjt, assoc:pjt>=evr, vp:pjt>evr, md: evr>pjt(highly performance dependent obviously but ive heard of some insane packages for poached evr md's).
Which ever one gives u an offer
Exits there are top tier. They have a slide where they show where all the kids in their rssg classes go, and it's practically all great places:
https://www.wallstreetoasis.com/forum/investment-banking/pjt-rssg-all-e…
Wow! Is this one of these specialized boutiques like Ducera or Liontree?
Holy sh*t that’s amazing.. practically every analyst went to great places
I think prestige and rankings should be moreso based on stuff like this. Surely the people they hire must’ve been incredibly smart and put together
Found the pjt analyst
That’s actually really impressive. Year after year they’re consistently placing kids to great shops. Should’ve started there
Let’s see Evercores buyside placement card
How are these groups with MBA internships? Specifically interested in PJT partners
I think evr hires a lot of mbas
PJT RSSG doesn’t really have an A2A culture and hires a lot of MBAs and JDs
That’s cos everyone went to buyside
EVR RX exits: https://www.wallstreetoasis.com/forum/investment-banking/evercore-rx-ex…
That's wild, how many people are in each class?
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