Hey to my fellow monkeys. I was searching for any info on culture/unique facets beyond just "really great internal culture" on some different banks and couldn't find much via the search bar. I thought it would be insightful if some of the experienced monkeys could share things (culture, unique facts, atypical internal structure) they know about some of the different banks undergrads are probably targeting this time of year so that this thread can be one of those go-to reference posts.
Any of the BBs EBs like Lazard, Houlihan, Centerview, Greenhill, Moelis etc Some MM banks like Raymond James, William Blair, Baird, Stifel, Harris Williams etc
Elite boutiques are all sweatshops. You've been warned.
Yeah that's what I've heard. Is it safe to say that's more a product of the smaller number of workers in general and leaner teams? Or is their literal deal-flow just that much more in # of deals, just not quite size relative to the BBs?
It's a combination of both. Offices, and therefore deal teams, are smaller in a lot of cases (depending on the location). There are also a lot more companies that fall into the "middle market" category, which is where those shops typically compete for business.
You definitely still work long hours at BBs, but places like Evercore, Lazard, Moelis, Centerview are especially known to work their junior bankers to the bone. In return, comp is typically higher than market at those shops... but you can burn out a hell of a lot faster.
Interned at an EB this summer and agree with the general sentiment. I have many friends who interned at places you mentinoed as well as other EBs like PWP, PJT, Greenhill, and Guggenheim and they all seemed to have more / rougher hours than my BB intern friends, except for those who were at their BB's M&A group.
Makes sense. Would you have any insight on Greenhill or PJT? PJT RX is probably my dream group right now followed by GH and Centerview, RX and M&A in general being my targets.
I understand that hours all around the street are going to be brutal (ECM/DCM supposedly having the least worst?) so whether or not a place is a "sweatshop" isn't really something I'm concerned about. I figure if the whole point of this industry is to work yourself to the bone why not go to the place where you'll work the hardest and hopefully learn the most. I'm more interested in hearing about what sort of small things make them different than their peers, something I could dig in and speak towards.
People tend not to do ECM/DCM because you get pigeonholed
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No offense, but shouldn't surprise you a shop with 50hrs/week isn't mentioned a lot
What was the comp like? 50 hours a week is really low so I’d expect that number to be quite low as well
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