Rothschild London vs BBs
In London, where would you place Rothschild amongst the BBs? Over which BBs would you pick Rothschild? Thanks
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I wouldn't place it above any of them.
I'd place it more towards the strong MM pile (with Jefferies)
Rothschild is one of the most elite independent advisory firms in Europe (with a slightly weaker brand name in the US which they are working on improving). In terms of prestige, dealflow in London it would rank above low tier BBs and on par with mid-tier BBs
GS > MS > Rothschild > JPM > other bulge bracket
Personally my ranking would be:
GS
MS/JP
Laz/PJT
RTH/BofA
Citi/Evercore/PWP/CS
Moelis/Barclays/UBS/Gleacher/Greenhill
The Rest
but some would rank citi and bofa above Roth’s but I think the exit opps between these 3 are fairly similar if you’re a strong candidate.
Gleacher really on the same level as Barclays/UBS/Moelis??
A lot of interns spreading misinformation in this thread.
1. RTH competes in MM predominantly (sub PS 1bn deals)
2. Yes, they occasionally do big deals but you'd be working on MM transactions mostly
3. It's a well-known fact around the city that you get a name discount (low bonus) for working there. Which would be justified if you worked on actually big deals, but if you do, it's the exception rather than the rule. So the discount is not really worth the name.
No one in their right mind would pick them over any BB.
That’s ridiculous. Find me the person who’s taking UBS/DB or Barclays over Rothschild in London.
Most of the people that are actually in IB, Prospect. Not your classmates that are talking rubbish without even having offers.
No clue who pushes Rothschild and Lazard on WSO but for EMEA they are a strong mid market player, that's it. Why would you choose that over any BB?
Ate a lot of MS last time already but still everyone in my year would have picked PJT, Centerview and PWP above them as well as any BB. Only different if you join and already know that you want to end up in mid cap PE, for that RS might be great.
I don’t know a single perso who would have gone to CW/PWP over Roth/Laz.
Also if we’re talking pure perception, Roth,Laz simply have a brand equity that is unmatched by any other bank except GS, MS, JPM and maybe BAML. Especially for Europeans. Not saying they’re better, but brand equity is very good. For that reason they’re perceived better by students than comparable boutiques (probably including EVR, PJT, etc.) - which obviously would change when they have a £120k offer from EVR/PJT on the table.
Finally someone saying this. Rothschild name prestige is incredible in Europe. The French PM was a senior banker there and many others very high profile people across Europe used to work there. Given people seem to like prestige, here you have it. May it change in the future? Maybe, not yet though
I am European and this is the ranking most of my co-students had when deciding on offers in London:
GS
MS/JP
BAML/Citi
Roth/Laz
Other BB/ EB
In Paris, it would be:
GS
MS/JP
Roth/Laz
BAML/Citi
Other BB/ EB
I am British and this is the ranking most of my co-students had when deciding on offers in London:
GS/MS
JP
US EBs
BAML
Citi/CS
Roth/Laz
Other BB/ EB
Roth/Laz would be higher if they pay at these firms wasn’t horrendously bad.
I always find it funny when people put MS/GS in a different category to JPM despite JPM absolutely killing it in IBD for many years (& consistently outperforming MS). It's also funny how US WSO culture perpetuates itself in the UK and all the misinformed undergrads circle jerk EB's to each other.
These student rankings are like bicycle owners ranking supercar brands... absolutely useless.
Full disclosure; I don't work for JPM