I am now trying to lateral after 1 year of IB related experience. My next 2-year goal would be PE or HF. How would you guys choose given those two options? Consensus might be Moelis SF since it's an EB, but my thought is that RBC isn't bad because it's on their M&A team in New York, and I can probably go to SF from New York, but not as easy the other way around. I don't mind lateraling to another better bank from RBC if RBC can't give me good exits.
You guys might be thinking I am leaning towards RBC, but still, I want to know how would you guys think.
Are these the only two options you have?
You mention lateraling out of RBC if you don't end up liking it... So you'll have been at 3 IBs in the span of 3 years. That's no bueno and shows very poorly actually.
Moelis SF is a small office, but active, whereas RBC NYC is obviously RBC NYC. They will have very different office feels and you will have very different responsibilities at each place. I would say that you would likely really need to hit the ground running if you end up joining Moelis SF because since it's a small office and they have a lateral hiring need, you're going to be heavily relied upon.
Where are you right now?
What industry do you want to go into?
Moelis name > RBC name
Why are you making this harder for yourself? Moelis SF is the top choice here.
Valuation shop -> RBC NYC -> Another bank
...All within 3 years. That's a lot of hopping around, and it usually takes several months to even establish yourself in a new place. Hopping to a new place every year is not a good look. You'll be a strange candidate and assuming headhunters can even keep up with your new work emails, they'll view you as a "nontraditional" candidate.
You're also assuming you'll be able to find any GOOD lateral positions after 1 year at RBC.
If I was in this situation, I would pick Moelis SF, never look back, and crush it there for 1-2 years.
From my personal experience, Moelis SF will give you interviews at all the Megafund shops on the westcoast. It's up to you to really do well and get the PE offers. I believe the office moved to SF city from Palo Alto and heard they are doing great in terms of deal flow...
However, if you are set on aiming for MF PE shops on the eastcoast it would be hard to transition. Even then RBC name is non BB and it will be hard sell to go to a really great PE/HF, although there are outliers. It might be best to go with Moelis then lateral to a reputable bank on the eastcoast.