PWP V PJT London
Which one would you pick out of these two for summer? Was leaning towards PJT, but saw that recent thread about it and now uncertain which to choose.
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PJT is top notch. comp is one of (if not the) highest in London for Analyst
However, worth noting that PWP offers some verticals that PJT doesn't eg. industrials
Okay thank you. How do you think the pay would compare between PWP, PJT and your BB?
Depends on team but generally EBs (PWP, PJT) will pay more than BBs, but you will be doing slightly longer hours (much longer at PJT)
currently: PJT >= PWP > BB. PJT used to have high bonuses but they are cutting back so PWP may overtake in the future.
PWP as it reminds me of Patrick Bateman's firm. Also PWP is the only firm that didn't offer me an interview. Must be an exclusive club for elite stratonites
I think that has more to do with the illustriuous selection process provided by the prestigious Dartmouth Partners :) (jk rip DP)
And just to add:
If you're open to traditional PE exits, definitely go for PWP. They are much better in M&A, and will give you more general exposure to industry groups.
PJT focuses more on Rx and so exits are credit/distressed. Industry coverage mainly Telecoms and Healthcare.
I think this is the best advice: depends on what you want to do: M&A: PWP - be keen on industrials Rx: PTJ or be keen on HC for M&A
Exits are related to their strengths - PE/GE for PWP, HF/Distressed PE for PJT
Their telco "coverage" in LDN is almost 0 - check your sources. I really don't get why people are throwing so much shit on PJT LDN. Many guys went to top SS/Distress/Credit funds because they wanted to, I know some of them and they deliberately chose SS/Credit over "vanilla" PE. If you wish to go to vanilla PE, HHs will give you the chances to recruit for top funds
I would take that recent anti-PJT thread with a sack of salt. Became clear that it was written by a rejected candidate who was super bitter and just whined about his victimization and trashed PJT. (Pretty ironic that he clearly cared so much about working at a bank that’s THAT AWFUL lmao).
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I would actually say PJT >>> PWP. Yes, PWP might have more presence in the London M&A market, but PJT is a top 10 global advisor working on some of the most high profile deals. Another thing to consider is how valuable RX experience is. PJT has done the most RX deals of any bank and since they’re advisory only the work is much more interesting. My last point, which may be biased, is that everyone I met at PJT is extremely talented and intellectual.
The fact that you used Rx and bank within the same sentence shows that you have no clue what you are talking about, same thing with advisory only.
This is true for US but it’d be helpful to get some insights on their UK deal flow. That said, getting M&A and rx experience is pretty unusual if OP has any interest in that side of the world.
Agree with this, especially on the point regarding the people. Everyone I have met had an impressive background and was a lot more interesting than most people at my BB
Anyone have comments on GS IBD London? Post MBA trajectory, culture, hours, desks, bonuses, etc.
Thanks
PWP by a mile. PJT wont look at you unless youre from a white rich target background. Also heard that PJT barely convert anyone to FT.
PJT had a 75% conversion for their last cohort (summer 2019)
According to whom? I got my information from PJT's international Head of HR at a networking dinner so its unlikely she's wrong. Maybe 75% accepted the return offer?
PJT London's 2020 intern class was 87% converted, and they actually got to work on live deals...
I find some mistakes here. Saying that you would take PJT before JPM due to "prestige" or branding is something that goes beyond logic. You could tell that they do have a better conversion rate, and that you prefer that.
In my opinion I would even take US mid tier BBs before PJT, and some CS groups too. Only Lazard / Evercore seems to be competitive in EMEA as an EB, but its true that not everyone thinks the same. In any case giving that overhype to PJT is a no sense at all.
Yeah, I never said to take PJT because of prestige. If you actually read what I said, I pointed it out to say how it’s recruiting process is respected amongst other firms and opens doors for FT recruiting...
Also I guarantee you that no one would take Citi/BAML/CS over tier 1 EBs. They were literally everyone’s back ups for when they got rejected since they have much bigger analyst classes and are way less competitive.
PJT is clearly a major EMEA player (Allergan Abbvie, sky comcast, that UK betting deal I forgot) and growing far quicker than the others. it’s hyped up for a reason mate.
Analyst classes are small as their deal flow is pretty smaller, it's true that EB tend to be pretty selective, many kids try to go there due to the high pay.
If exit opps are taken into account these boutiques do suffer in the UK (Still great placement but nowhere close to the US).
In any case its undeniable that EBs will keep growing fast during the following years, the big question is, who is going to grow faster as also two of these mid tier BBs have a very aggresive expansion plan for the upcoming 2 years
Yeah mate, who knows tbh. I respect that you've probs got an offer from/interned at a mid tier US BB as you can probably assume the same for me with the EBs. Best of luck in your career x
OP are you really being swayed of a decision by someone who has every incentive to trash PJT and knows nothing about the firm
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Hi guys, how does Evercore in EMEA compare with PJT and PWP deal flow/exits/pay wise ?
About the same but pretty sure PJT has highest deal flow per analyst, so has the best pay.
PJT.
On the ‘people’ front, both firms attract top tier talent and saying one is better than the other would be arbitrary. Culture seems to be good at both places. They are both ‘prestigious’.
In terms of analyst pay, I believe PJT tops the ranking in London.
In terms of exits, both are strong. PJT also gives you the opportunity to recruit for distressed. Have recently seen exits to KKR, Apollo, Oaktree.
PJT 100%. Barely a debate in my opinion. Growing far quicker and M&A and Rx is such an amazing experience to have (especially right now). Culture is known to be amazing as well.
Depends what you want to do but they're both great. Beware, people tend to overhype PJT on this forum based on their perception of the US franchise, make your own mind.
Talked to plenty of people at both from each level. The PJT analyst program is generalist (M&A + RX) but from my discussions, analysts barely do any M&A (80% + of time spent on RX). If that whats you want to do then go PJT. If you want to do M&A then PWP is better in my opinion (better track record, especially in TMT + industrials). They both place well (Apollo, Centerbridge, Cinven, Carlyle for PWP, PJT has already been said) and both seem to have great culture (albeit PJT hours are quite bad).
How do Centerview/Qatalyst/Liontree as smaller boutiques compare to the larger boutiques in London?
Would say centerview is probably below Laz & Roths in europe and level with/slightly behind PJT & Evr
Q and LT not regarded as highly as in the US but still compete well in MM tech
NB this is just what I've heard but im sure someone on the inside has a better insight!
Lazard and Rothschild are not the top EBs in London “Intern in IB - Gen”
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