Restructuring EB's Quiet for Upcoming Summer Interns?
I've been hearing all about Moelis and the BB coming out with information for this upcoming summer, but does anyone know about restructuring EB's? EVR, HL, PJT still have yet to say anything about the summer plans... Curious to see if anyone has any insight, though I know all three groups are getting destroyed right now
After Moelis’ announcement yesterday, I expect the other EBs will be reaching out to the incomings SAs really soon, if not by the end of the week. Once JP announced their plans, all the other BBs fell in line pretty quickly with similar accommodations. I imagine the same will follow for the EBs.
Haven't heard anything yet either. I would imagine that they will reach out within the next week. Unfortunate time to be without RX SAs given the workload
Not having interns will likely make the juniors more efficient tbh
This is 100% true.
Can definitely see this but I know my friends at Moelis were pissed about the delayed start. Some of them were hoping the intern class could take some of the bs off their hands but guess not
Don't know if any of the restructuring groups can afford not to bring in interns...they need all hands on deck.
I thought this at first, but it looks like this need might not be as great as originally thought. Given the new 2.3 trillion lending program from the fed and assurances that they will keep intervening (especially in the HY market) there might not be many bankruptcies (or as many as originally planned).
Interns make everything take longer. everything.
Friend who is at HL said they are most likely going to delay start, but still plan to host SA's.
Oof to the HL RX summers if they don't get the Moelis deal
PJT has said more complete information will be coming soon but that they're committed to having an internship program in some capacity, regardless of whether it's abbreviated/online/some other format
Is this for both M&A and RX?
Yes
Has anyone gotten anything from PWP?
Haven't heard anything outside of the initial email 2-3 weeks ago.
are you incoming in NY?
PJT had a zoom call with all their SAs in London and NYC today. They haven’t decided yet as it is likely certain locations (London) are approaching their peak in a few days so they want to see how it plays out. Aiming to let them know in 7-10 days. Considering same changes other firms have made (shortened, virtual etc). Doesn’t sound like they’re planning on giving everyone a guaranteed FT offer though.
really hope they follow Moelis and Citi tho
yeah hopefully, do you know what their offer rates were last year?
HL just delayed to June 22nd for all interns with a virtual training program
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