Based on analyst experience + buyside exits
Tier 1: GSTMT SF, MS Menlo, Qatalyst
Tier 2: Lazard SF, Evercore Menlo, JPM SF
Tier 3: CS SF, Centerview PA, BofA PA, Moelis SF
Tier 4: Jefferies SF, Citi SF, PJT SF, Barclays Menlo
Tier 5: PWP SF, DB SF, UBS SF, Greenhill SF, etc.
Leave it in comments if any disagreements / banks I missed! By no ways definitive rankings
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Looks accurate enough, although not sure how many deals PJT SF gets. I wonder how BofA and CS have been doing since I heard several MDs made a move to CVP from BofA and CS also had problems that I can't exactly remember (maybe because of Bill Hwang?). Also not sure if UBS should even be on the list because I heard every MD in TMT on the west coast left last year and this seems like a cycle for them every few years. I am not exactly disagreeing, but hoping for an update from someone.
Edit: I just wanted to add that Lazard SF gets pretty good exits compared to the rest of the Tier 2 and CS guys pull for each other on the buyside. Some buyside firms put JPM slightly above rest of the Tier 2. It's all pretty confusing to me.
Laz still have better exits even though JPM is sometimes considered slightly better?
That's what confuses me. Could be the size of the class and tech and M&A being divided at JPM, but not sure.
Thoughts on BMO in SF?
How's the VC / GE exits coming out of Tier 2 offices here?
How is JPM M&C?
Isn’t that group NYC?
NYC, but they had solid PE cycle this year - TPG, Apollo, Platinum
Yeah...I'll take a hard pass on both Apollo and Platinum
CS SF had terrible turnover last year and is in complete rebuild. Only a few MDs were left not to mention all other departures from analyst to VP. Really tough but rehiring began this year so maybe will regain reputation. Group was doing great past few years before this with SPAC boom and some big IPO wins (Lyft, rocket, realreal)
Where does DBO fit into this (considering they do mostly tech)?
My guess is tier 3-4?
Damn we really care about this shit still huh
I'd say Lazard goes in T3 and Citi goes in T3.
Reasoning: I don't think Lazard is on the level of Evercore and JPM so I would demote it. Citi is definitely above CS and probably equal to BofA so I'd probably put them all in same bucket. Otherwise I think I would agree.
Lol… Laz SF likely has the best exits out of Tier 2
How is MS Tech NY in terms of exits?
How would you contrast Barclays and BofA coverage? I've heard that BofA M&A has great exits, but how does coverage compare to Barclays where you do M&A in house?
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