Some banks are overrated as fuck
Sorry but LAZ / PWP / MOE are overrated as fuck. Go look at their deals, there’s a ton of middle market shit. Sure, comp and exits are top, but the actual deals are garbage. CVP / PJT / EVR are like significantly above it.
And don’t even get me started on BofA / Citi / Barc it’s literally not even remotely close to GS / MS / JPM. Like a whole different fucking sport in terms of exits and deals. People just slap BofA’s name on the deal since they’re providing lending for it but GS does all the real work lmaoooo
Congrats on PJT M&A
Where did he say M&A only?
In the RX space they are the undisputed top dog.
You could make the same argument for LAZ / MOE RX as well, in that they are better than the majority of groups at EVR. With that logic it doesn’t make sense to include PJT with EVR / CVP since their M&A platform is that much more lacklustre
Low-quality post - PJT M&A is mid af and quality of deals heavily depends on group in EBs
hot take JPM is overrated
idk, LAZ seems decent
All EBs are getting overrated given their scale. They are no longer go-to shops for large-cap M&A. Even EVR is doing a lot of MM BS mandates that are honestly JEFF level. CVP is also getting there. PJT M&A had a nice run but in the past 3-4 years they are heavily underperforming
This had to be said out loud. To all the propsects glazing over EBs, know that it is more likely than not that you'll end up working on MM / low quality shit than on mega-cap M&A
GS is very comfortably above and beyond anyone else at this point, they have like what? $300B lead in M&A league tables over the next firm, which is JPM with a bigger platform. This is only for M&A. For IPOs/capital markets it's probably even more material, considering the lead lefts they are getting on the spacex, google capital raises
This is genuinely high-school level analysis. EVR and CVP will go as low as 100mm TEV and the BBs you glazed are actively trying to compete more in the MM advisory space. EB hype has always been about working on a greater volume of live deals and getting more responsibility at the expense of fewer large cap deals.
Not true. High volume / low value deals is the forte of shops like MOE or JEFF. EBs like EVR, PJT, PWP etc always tried to sell that they work, for the most part, on large-scale, strategic M&A etc. It simply isn't true anymore (maybe except for EVR or CVP but again, even they, especially EVR, are becoming volume shops).
To your point about live deal experience, not sure your argument holds. I'm pretty sure that top BB groups (against which these EBs are usually "benchmarked" on this forum), such as GS TMT, MS M&A/Menlo, JPM HC/M&A etc, are providing better deal experience, both in terms of quality and volume vs your average EBs.
Average analyst quality for these EB M&A groups remains significantly higher than even the top BBs, sorry but it’s true. So many tourists at the bulge brackets.
Banking is becoming more commoditized across the board. They’re all overrated
I never understood this obsession with prestige in finance. A good amount of the users on this site never had to carry quota and it honestly shows.
Your MDs and Directors don't care where the money comes from. Deals are deals, they are in their roles because they are expected to make it rain and generate revenue.
Your obsession with "prestigious" deals is only a hindrance and will not help you in any way, shape, or form.
The only time you have to say no to a potential deal is if the cost of executing it breaks even or is greater than the estimated revenue it would generate.
Also, you judging a bank based on what they're publicly allowed to market is myopic.
Exactly correct
This is the only logical take I have ever seen on these sorts of threads. Chasing prestige and brand based on the perspective of others' or the nature / size of deals closed historically is a sign of immaturity and serious disconnect from what actually matters.
Anyone debating prestige of bank A vs. bank B likely has under 2 YOE
It only takes 6 months of midtown happy hour to realize that Becky's reaction to hearing you're an Investment Banker at Lazard vs BMO is the same, and only another 6 months to realize that the incremental 30 hours/week isn't worth the additional 30K.
Got noticed by the OG. I’m honored.
I never understood my MDs tantrums when I was an analyst. Now that I’m in tech sales responsible for a quota and bringing in revenue. I empathize deeply with them and get annoyed by the complaints I read on this site.
Quam excepturi quo asperiores tenetur voluptas. Vero consequuntur ipsum ut. Sit quaerat laborum distinctio saepe quisquam. Nemo voluptatem molestiae corporis. Debitis est assumenda qui ullam. Architecto iste aut dolorem voluptatem eum inventore nobis.
Ut eos eum sed perferendis voluptas error enim dolor. Nihil consequatur enim corrupti harum. Et earum fuga quidem rerum enim laborum doloremque. Et delectus numquam rerum aut qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Ex minima et quod itaque in. Sunt repellat dolores repudiandae architecto. Suscipit voluptatibus nisi aut distinctio non esse. Quia deleniti consequatur aliquam quibusdam.
Enim voluptatem odio dignissimos. Molestiae qui molestiae est explicabo esse sed. Vel totam asperiores eos labore est quia. Culpa facere temporibus molestiae aliquid occaecati debitis. Quia tenetur praesentium omnis eligendi id distinctio. Sint reiciendis numquam reprehenderit sunt.
Sunt aut natus voluptatem odit omnis eaque iste. Necessitatibus est mollitia soluta totam quod est voluptates. Sed ipsa et qui consectetur voluptatibus ut. Numquam qui quasi maiores ex aut corrupti rerum quis. Aut laborum impedit quos voluptatem a sed recusandae similique.
Qui aperiam delectus sed qui occaecati debitis. Facilis aut reiciendis sit quam consequatur. Et quidem deleniti neque voluptatibus nisi. Numquam molestiae provident sed id quas. At numquam porro eius deserunt eum aut maxime.