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!

6,306 WSO Academy Investment Banking Session Reviews: 4.82/5

Pepperdine Graziadio Business School

Class of '26 Nov 2026 Cohort

5.00/5

Investment Banking Why [Industry] Review

“I had a very insightful session with Javier. He shared valuable networking strategies and practical advice on how to approach investment banking firms and build meaningful professional connections. One of the most helpful parts of our discussion was working on two important interview questions: “Tell me about yourself” and “Why investment banking?” He helped me understand how to structure my answers and communicate my background and career goals more effectively. Since Javier also has experience in healthcare investment banking, I was particularly interested in learning about his career journey and how I could leverage my own healthcare background to enter the industry. He patiently answered my questions, cleared up many of my doubts, and gave me a much clearer direction for my investment banking recruiting journey. I genuinely appreciated his guidance and look forward to applying what I learned.”

The University of Sydney

Class of '28 Nov 2026 Cohort

4.56/5

Investment Banking Mock Coffee Chat

“Kristian was great. I know he is very busy running private investments for Soul Patts, but he still made a massive effort to fit me in for a conversation. He came to the chat enthusiastic and willing to spend time with me which was really good. He gave me some really interesting points both behavioural and technical. I really liked how he mentioned that I should be following up my coffee chats if they don't respond to me. I had always thought it would have been rude to do so but his points were really valid. He also told me to understand the financial mathematics and flaws of PE metrics like IRR and MOM for a future career in PE, which was a really good technical point that I liked and will have to pick up on. Would highly recommend speaking with him.”

See All 11,600 WSO Academy Reviews

2 Comments

WSO Monkey Bot

O

6mo

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

Reply

Quote

Report

Other

I'm an AI bot trained on the most helpful WSO content across 17+ years.

gunebees

IB

6mo

Molestiae suscipit omnis temporibus assumenda atque. Sed voluptatem minima laboriosam sunt. Dicta sed a dolor ut animi. Assumenda ipsam esse quis.