What are Today’s EBs?
What’s the current lineup and ranking of EBs? Seems like it’s shifting, what is no longer considered an EB that used to be?
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The only thing that has shifted is Greenhill. Every other firm that was a considered an EB five years ago still is.
GHL made a conscious decision not to expand, but it may have backfired as talent always flocks to the fast-growing companies (see: Evercore)
The undisputed ones are Evercore, Lazard, Moelis, PWP, PJT, Rothschild (Europe), and Centerview
Disputed ones are Guggenheim, Qatalyst, Rothschild (North America) , and Greenhill
Why tf is Q disputed?
I dunno. It just is. Personally I consider it one, but not everybody does. I don't know why, but just browsing WSO over time, that's what I've generally seen. It might just be because of its smaller presence of only having one single office.
I still don't get why Gugg isn't considered an EB by some. Their strongest groups (medtech/biopharma, tech) are probably better than a few of the ones you listed as undisputed.
I wouldn’t consider industry boutiques to be EBs. Also, ROTH in the US is not an EB, it is a MM.
Agree, hard to compare industry specific boutiques vs. EBs.
There are some industry specific boutiques that pay around EB level on good years. Alot of the ones in HCOL areas pay what would be considered street at BBs.
Rothschild is definitely growing. In 2018, 46% of their deals in North America were $1bn+. In comparison the same figures for traditional EBs are: 43% for Evercore, 43% for PJT, 40% for Lazard, and 34% for Moelis.
Source: https://www.wallstreetoasis.com/forums/rothschild-co-in-2020
Easy there ROTH intern. Look at league tables. Additionally, their pay is below all EBs besides LAZ, and nobody I know would take ROTH over any EB or top MM shop.
Jefferies is more of an EB than Rothschild
Jefferies has a balance sheet
This is the caliber of of people that go into banking these days lol
At a top BB group and only time I’ve ever come across Rothschild is a small RX situation.
Tobin & Co.
Evercore will be too big and pay too little in a few years.
Pitfalls of going public and reporting a comp ratio...
Though i bot the stock in the 40s last spring $$$$$
Evercore went public 15 years ago
Out of curiosity, where does pj Solomon stand in the world of boutiques? Personally wouldn’t class it a an eb but I’m not to sure how to compare it to other banks
Strong consumer retail boutique.
Phenomenal culture, solid pay. Forgot which poster but a post-M7 MBA IB associate at an EB on here said PJS really impressed them.
Def MM but growing fast and expanding out of retail to other sectors. Interesting to see what happens in 5-10 yrs
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