Top Industrials Shops in Chicago - Top IB Chicago

GHL Chicago and Lazard RX are the top dogs in Chicago when it comes to analyst comp and exits. GHL CHI consistently sends their analysts to top firms like UMM, Thoma Bravo, Silver Lake, GTCR, MDP, Berkshire, and more. And in my opinion, GHL Chicago's PE exits are the best in all offices (Even better than their RX team). I'd say only reason people don't gun for it is that they have a HEAVY Chicago bias and will only hire kids from the mid-west / Chicago (Northwestern). Breaking in from elsewhere is just nigh-impossible, never heard of it. 

Lazard Chicago is pretty similar, with their current analysts signing with big-name firms like KKR, Permira equity, and I believe 1 Apollo. Their team is stacked with talent, and their current analyst class is no exception. It's worth mentioning that the head of their RX group sits there, which could be a big selling point if you're interested in that particular area of finance. 

For both Lazard and GHL, analyst classes are so much smaller, so you have a much better chance at top exits verses a GS or BB - Lazard and GHL are NOT CHICAGO-SILO'D, which is a key differentiator I feel over the Chicago powerhouses (Baird, WB, etc.). If you're at WB, you can get a top seat a Chicago UMM, but when compared to GHL or LAZ for UMM/MF NYC, those firms directly compete with the local top groups (Would much rather be at Lazard RX CHI / Greenhill CHI than firms like BofA, Barclays, UBS, etc. since you have a much better chance).

When it comes firms like Lincoln, William Blair, Baird, and Houlihan Lokey, they're also solid options to consider in Chicago. While they may not have quite the same level of prestige or PE exit opportunities as GHL or Lazard, they still have excellent reputations and can offer great training and experience.

For example, William Blair is known for their strong middle-market M&A practice, and their analysts have gone on to land impressive roles in PE. Lincoln has a great reputation for their healthcare practice, while Baird is known for their strong presence in industrials. Houlihan Lokey is also a well-respected firm in the Chicago market.

Of course, every firm has its strengths and weaknesses, and it's important to do your own research to figure out which one is the best fit for you. But overall, I believe that GHL Chicago, Lazard Chicago, and the other firms mentioned are all solid options to consider if you're interested in investment banking or private equity in Chicago.