PWP and GHL Updated Info

I spoke to a student the other day from my college, currently spending the summer with one of these firms and realized I didn’t have a good sense on the states of either.

Does anyone have current information on PWP or GHL? They seem to really have expanded quite rapidly (employee numbers and offices) and now both seem to be having a tough time and really not have grown much in the last few years. Apart from GHL in Houston, which has historically been a strong team and I assume PWP Houston post the TPH acquisition, which sectors do either of these guys do well in? These used to be extremely well regarded firms to go and work for (with PWP in particular known to have fantastic culture and be a career firm) but seem to have taken a serious hit to deal flow and reputation in the last 3-5 years; curious to understand from anyone more familiar with the situation what’s going on, how have comp numbers been the last few years and are these still desirable firms to work for? Has the aging of their respective name partners and less involvement in day to day of the business had a major impact, or is the senior team at both strong enough to carry these brands forward? All thoughts appreciated.

Edit: Just looking at PWP recent transactions it seems to be advisory work on mostly financings and not much M&A work. GHL is a mix, with a large number of deals sub 200mm in value