PWP NY (FIG) vs FT Partners SF
Very grateful to have an offer from both of these firms. To give you some background, I’m genuinely passionate about the fintech industry and crypto moving forward, especially with Biden and the white house passing executive orders and adding regulations.
PWP is an EB, better brand name, group is less sweaty (?), better exits, would much rather be in new york than sf
Heard mix things about FTP, mostly bad due to a terrible hr department and brutal work culture. Had no problems with recruiting this cycle but am scared about the insane work hours
Go PWP. The brand name goes a long way bro especially for PE.
FTP is probably the best fintech investment bank out there, pay is literally the highest on the street right now with total comp nearing the mid $200ks for AN1. This comes with consistent 80-100 hr work weeks. No breathing room. You’re steamed, boiled, and cooked well done as an analyst. Personally think the pay is not worth signing your life away. Exit opps are not as good either, mostly VC/GE exits from what I’ve seen if you’re into that.
Would say PWP is the better option in this case. Will open more doors from you down the line in the event that your interests change.
Seems like FT Partners aligns more with your interests. They're the best in fintech and the firms growing really fast. They've pinched off seniors from GS, MS, and KKR. But be warned, a lot of the work they do involves raising series capital. They also allow vice presidents to invest their own money with their clients which is something unheard of in the industry.
However, turning down an offer from PWP is just difficult. So it all just comes down to what you want to do long term…
If you want to exit? Go PWP
If you want more early stage industry exposure? Go FTP
Do you want to stay in IB long term? You can't go wrong with either
This is tough. From your post it seems like focusing only on fintech would be best for you. PWP holds more prestigious, but FTP is growing so fast and is paying more.
However, working 70-80 vs 90-100hrs a week is a big difference, and personally not worth the $30k in change. PWP also has far better exits
Crazy how nobody is talking about FIG. If the PWP FIG group is mostly depositories, I'd imagine you would hate the experience there and also be pigeonholed when trying to exit. But if they also do fintech and other interested verticals in FIG, then I'd say go with PWP.
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