Top BB M&A vs. EB RX
Hi all,
Just wanted perspective on M&A vs RX going into the incoming recession.
I go to a target with strong contacts at top BBs (MS M&A) and also strong RX contacts (PJT, HL, Laz). For some EBs, I have to choose between the two groups as the processes are mutually exclusive. I understand that there are distinct differences on the job, and that comes down to a personal decision, but objective I would like to inquire about the exit opportunities?
I see people go from regional coverage groups at BBs go on to top distressed PE/HF, so is it entirely necessary to go the RX route at an EB, where I know I will be crushed in the next few years? How would you guys compare a top BB in a top group (GS/MS/JPM) vs. RX at a top EB if I want to exit to a top PE or HF fund in the future and for BSchool placements?
Thanks in advance.
I think M&A & Rx analyst programs would be really interesting (Moelis, Greenhill, etc)
Greenhill no longer combines the two, they’re split now
Deleted
PJT too
PJT splits analysts into M&A and RSSG
agree with above poster. important notes to consider are culture and compensation, which at a high level (although each EB is different in this regard) favors the EBs, esp. for compensation. As for M&A vs RX, RX kids will get looks from the start PE and HF firms but also distressed shops, while M&A kids mostly don't exit to distressed.
however I think it's valid to consider the macro backdrop, esp because there's a lot of uncertainty regarding the economic future of the virus. RX work is already picking up and the lifestyle changes are showing, whereas at least in the short-term, M&A activity (and corresponding bonuses) will drop. but if you're still 2 years out from actually working this'll be less of an issue
Agreed. Even without considering the macro circumstances, I'd value RX at top EB more highly than M&A at top BB.
How hard is it to lateral to RX if you're coming from a group such as M&A, LevFin, or coverage groups like consumer/retail or industrials?
Honestly I think most people would take also LAZ RX over JPM, think who's technical enough to get LAZ RX would not enjoy as much JPM experience
Deleted
Soluta quam nemo placeat illo. Commodi consequatur nostrum corporis rerum voluptatem dolor. In occaecati sint excepturi eos consequatur sint accusamus. Praesentium est rerum ut praesentium sed.
Voluptatibus et sunt aut illo nemo. Quam quis omnis et. Autem qui ducimus iure nihil eaque et voluptas voluptas.
Adipisci labore amet sed rerum reprehenderit a. Dolorum ad ut libero maxime ab aliquid. Voluptatem voluptatem facilis mollitia ea. Necessitatibus minus eos labore eaque dolorem numquam dolores ea. Labore dolorum laborum voluptatibus ducimus voluptatem. Et sed sunt culpa veritatis accusamus aperiam natus.
Dolore et rerum dolorem libero deserunt. Possimus et eaque molestias repudiandae sed. Cupiditate ipsam nihil enim illo dignissimos id ut.
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...