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The culture is very friendly and smart. It’s a very selective and tight-knit shop given its size, but it’s growing significantly (in size and market share of advisory deals, TYD ahead of PJT, CVP, and MOE). I’ve seen solid placement from all groups (MF, UMM, and HF for 20 man classes).
Specifically for group selection, I’d go with what you’re interested in, and/ or whatever is the most respected industries across IB. Also have heard from friends at the bank that you can have a generalist experience, where you can cover multiple industries and Rx. I don’t work there, but this is what I’ve consistently heard about the place. Also great pay, Good luck!
Can confirm ^. I’d say this is the place to be other than GS and EVR. If I could go back a few years, i would have taken over PJT/ Moe/ Laz. The pay and culture is great, with the same exits. Congrats!
Really laid back people and super smart at PWP, you won’t find nearly as many sweaty hardos as EVR/MOE/LAZ.
I have friends who have been at PWP for many years. The firm has deteriorated since going public, and it's unfortunate since it used to be a great place to work. Junior turnover is at all time highs, with mass numbers of analysts and associates resigning each month. The firm is struggling to retain junior folks, and I think it's because quality of deals have gone down in an effort to bring in as much revenue as possible each quarter (since de-SPAC and new earnings pressures). Even looking at the firm's selected deal transactions on their website, you can see an increasing number of $100M transactions rather than large cap blockbuster deals. Most of my friends have left the firm, and it's a huge bummer for their culture going forward.
That’s not necessarily true. Juniors are leaving all banks across the street. It was a rough (culturally) year for any bank doing deals; 2021 was an insane year for deals (and 2022 will be down across the board, even at GS/MS). This is a key reason why PWP had massive deal size and volume in 2021 (3rd overall boutique: trailing EVR and CVP, far ahead of PJT, Lazard, and Moelis. The growth trajectory and prestige of the firm are at the greatest point since inception. They also added a massive amount of juniors and partners over the past year, as well as many internal promotes (this alludes to their enticing culture and attractiveness of the firm to an array of bankers).
Just my two cents, hopefully this gives some more clarity. All groups in NYC, aside from maybe Tech/Fintech (media is ran out of SF), will give you great pay, M&A exposure, and exits.
Nope, I think they’ll be fine. Expansive partner list: check it out, all ex global heads of GS, JPM, and MS. Great pay, first year associates made over 350k last year. Great place for a career if you don’t want a career at CVP