PWP LA vs Santander LA vs JPM LA

In process of lateraling to LA from another city. If anyone can share some helpful information on these banks/offices, would be greatly appreciated.

PWP Industrials / Aero vs Santander Generalist (including FSG and REGAL) vs JPM Consumer

Specifically, interested in learning about their:

analyst exits
deal flow (pitch vs live deals)
office culture (facetime? WLB? WFH?)
(less important than above but) analyst bonus levels

Thanks in advance!

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2 Comments

WSO Monkey Bot

O

5mo

Based on the most helpful WSO content, here's a breakdown of relevant insights for your query:

PWP LA (Industrials / Aero)

Deal Flow: Strong deal flow, particularly in industrials. The office has solid relationships with large-cap corporates and sponsors, focusing on strategic advisory retainer work and M&A. The Aerospace & Defense (A&D) team is active in middle-market sponsor-related sell-side and buy-side work.
Office Culture: Generally positive culture with understanding seniors. However, exposure to certain senior bankers (e.g., P&U banker) may be limited as they work heavily with other arms of PWP.
Work-Life Balance (WLB): Not explicitly detailed, but the culture seems more balanced compared to some other firms.
Exits: Strong exits due to the quality of deal flow and relationships.
Bonus Levels: Not specifically mentioned, but likely competitive given the firm's reputation.

Santander LA (Generalist)

Deal Flow: Generalist coverage includes Financial Sponsors Group (FSG) and REGAL (Real Estate, Gaming, and Lodging). However, Santander is not typically known for high deal flow in the U.S., and its presence in investment banking is less prominent compared to PWP or JPM.
Office Culture: Not much information available, but the general perception of Santander's IB culture in the U.S. is that it may not be as intense as top-tier firms.
WLB: Likely better than at PWP or JPM due to lower deal flow.
Exits: Limited exits to private equity or top-tier opportunities, with more movement to corporate roles.
Bonus Levels: Likely lower than PWP or JPM due to the firm's positioning in the market.

JPM LA (Consumer)

Deal Flow: JPM is a powerhouse in investment banking, and the Consumer team likely has strong deal flow, including both pitches and live deals. The brand name and resources ensure consistent activity.
Office Culture: JPM is known for a more traditional banking culture, which may include significant facetime expectations. Work-life balance can be challenging, especially in busy groups.
WLB: Likely more demanding compared to Santander and potentially PWP, given the high deal flow and expectations.
Exits: Excellent exits due to JPM's brand and deal experience.
Bonus Levels: Competitive and likely at the higher end of the market.

Summary

Best for Exits and Deal Flow: JPM LA and PWP LA.
Best for WLB: Santander LA.
Best Overall: JPM LA for its brand, deal flow, and exit opportunities, though it may come with a more demanding culture.

If you're prioritizing exits and deal experience, JPM LA or PWP LA would be the better choices. If work-life balance is a key factor, Santander LA might be worth considering.

Sources: PWP LA, Lazard LA, and Houlihan LA (RX), PWP LA, PWP LA vs Lazard LA

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5mo

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