Hi Guys I would like to know your thoughts about 3 firms in terms of exit opportunities to top tier PE:
Thank you!
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Exit to Top-Tier PE would be impossible from the firms you listed. If this is a summer analyst role, then staying in NY will lead to a higher chance of FT recruiting for better banks. Piper Sandler is stronger than Scotia I think.
Thank you very much for your reply! These are all full time roles. What do you think of RJ compared to the other two in terms of reputation? Also I noticed several entries into Blackstone/KKR/Warburg from RJ as IB analysts but no for Scotiabank.
I can pretty much guarantee those who went to BX/KKR/WP are not in their PE platform but more likely in business development, investor relations, operation type, or lateraled to other banks before making PE transition. Honestly, I would never choose Scotia over RJ or Piper. RJ's tech team sometimes punches over their weight, and their consumer team must be good given Financo acquisition, but you're gonna be placed in a different platform, in Chicago. Chicago has plenty of good MM PE but if you're set on MF PE, then staying in New York and lateralling would be the best option. I believe FIG is one of the best groups at Piper so I'd personally go to Piper and try to lateral if I were you.
Piper Sandler FIG is basically Sandler O'Neill, which has always been regarded as a top-tier FIG bank. IMO, PS also has the best name among those three by a long shot, just in general. Think that's your best bet.
Thank you very much for your reploy! Would you think FIG would pigeonhole the exit to top PE?
What do you mean by "top-tier PE"? If you're talking about deal size, a PE firm is not necessarily of a higher quality than others solely because it does bigger deals. Some MM and LMM PE shops are of very high quality and just happen to specialize in a different area of the market. In any case, none of those banks are going to guarantee that you get looks by megafunds. However, I know for a fact that you'll at least get placed in the on-cycle pipeline for megafunds if you're at Piper.
Do you have offers in all of these roles?
Depends on what you're trying to do in PE/not enough information:
I've seen a plethora of people in FIG move on to investor relations type roles at PE firms (in every strategy and sector) - of the options you have, FIG at Piper Sandler will probably give you the most "breadth for your buck", but understand where the individuals who previously had your job end up in role and firm (linkedin)
My best advice would be to look at the firms you want to work at, look at the individuals in the roles you want to be in, and work backwards from there - you need to have an idea of where you want to be to figure this out (ex: 3/5 acquisitions analysts at the firm you want to work at come from XXX Bank, do a bottoms-up analysis of where you want to be)
Hi Schmuck55, thank you very much for your advice! I actually did several researches on Linkedin, first I think there is very few, may be only one person ending in really good PE funds for investment roles (not operating/admin/recruiting/valuation roles, etc). It seems the Piper FIG's exit opportunities are quite limited. Maybe I shouled lateral to another BB before getting into PE.
Can't comment on if you only want Megafunds, but if you like/want FIG, Piper Sandler is the best of those groups. But, you may get pigeonholed into that industry vertical.
Second choice would be RayJay. It's been aggressively staffing up and trying to move upmarket in other verticals outside of tech and healthcare, its two best groups.
Thank you very much Bullet-Tooth Tony! What do you think about Piper Sandler FIG team compared to all other FIG teams on the street, including BB and EB.
Had a buddy in RJ Chi. Obviously, team is very small with only 2-3(I think?) analysts. I believe culture was pretty good. 0 shot at MFs
U got offers at all 3?
Raymond James Chicago / Industrials practice is pretty weak. Those exits are probably from the Tech team and like somebody else mentioned not all are FO Investing roles.
have no clue about piper but have never considered them a strong brand
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