What is so good about PJT
Hi Everyone,
Current sophomore starting to get serious about recruiting and I've been browsing WSO in order to get a handle on what people think about various firms. Most of the people in my investment club are really gunning for the bulge brackets (GS/MS/JPM especially), but it seems like here on WSO a few people have mentioned PJT. Is the hype mainly group specific or does it extend to the whole bank?
I guess what I am trying to ask is what sets PJT apart from the rest of the EB's (Evercore/PWP/Lazard/Moelis) and why would people choose this bank over a reputable bulge bracket? Most of my friends tell me that the smaller banks aren't really worth joining unless you can't get into a BB so just curious.
Thanks!
Can’t comment on pjt specifically but your friends are ill informed or lying if they are saying banks in the realm of pjt aren’t worth it.
Only thing ppl (should) care abt at that point is culture. Nothing else is material.
You will need to figure this part out on your own through networking and use the people and their answers in yours during interviews.
Best of luck.
You should really do your own research. There’s a ton of information online, but more importantly, you should network and talk to people at the various firms. Staying in your own bubble of finance friends or just browsing WSO can skew your perspective because the finance world is much bigger. For what it’s worth, when I was at Wharton the finance “hardos” preferred EBs (especially pjt, evr, moe la) over BBs, but do your own due diligence to form your preferences, because everyone has their own.
tip top pay package, prestige, and exit potential (:rocket ship:)
Put bluntly PJT RSSG is the top restructuring group on the street and pays phenomenally with the top exit ops
PJT strategic advisory (M&A) is also top of the line, although not as strong as their restrcturing practice. Would still rank them along the lines of MoCo M&A / lazard
I think it isn't too far of a reach to say that at top targets PJT RSSG is the most sought after banking role period. Pay is second only to centerview and the consistency of the exits is unrivaled in any banking group. Virtually everyone that recruits for PE gets a MF offer (or worst case, top UMM) and the rest go work at hedge funds. Heard from a friend that the last exit class was 2 Blackstone, KKR, Apollo, Oaktree, 2 Centerbridge, Anchorage -- the whole class was finished recruiting on day 2 of on cycle. This past year obv skewed credit / pe in interest, but the group also has a history of sending kids straight to top event driven, tiger cub / top long short, and activist funds if they favor public equity.
Can you list which tiger cubs? Trying to jerk it even harder
Moneys
Your friends in the IB club are woefully uninformed. Go work at PJT/CVP/ECV and you’ll, vs. bulges, 1) make way more [~100k over analyst stint] 2) work less 3) learn more and 4) exit as well or better.
Great culture from the people I know there. No concept of facetime when you're done with your work you go home. Seniors go out to bat for you should you choose to move on to the buyside (same thing can be said for other EBs but have generally noticed BB MDs are less enthusiastic about this). To my understanding they dont bucket and analysts can clear 200k.
EBs tend to pay at the top range of street and lead with advisory expertise instead of capital markets capabilities which lends itself to more interesting deals versus vanilla cap markets deals. What I like about PJT (and a lot of EBs) is that they run leaner and intentionally focus on core competencies where they’re truly some of or the smartest guys in the room.
PJT = Ultimate Prestige, it's a spin-off of Blackstone
Lmao all the boutiques recruit first in the spring -- the only people left recruiting for GS / JPM in the fall are the people that struck out everywhere else. Also good luck with recruiting if you don't understand the difference between the boutique and bulge bracket business model.
GS / MS is on par with PJT. If you are choosing between PJT and JPM, go with PJT
PJT is pretty whack in UK tbh. Running off prestige from USA. My mate enjoys work and people, but he will never earn bags and won't end up at KKR, unlike GS / JPM / Barclays.
You had me until GS/MS/Barclays. But sort of agree, their European M&A franchise is abysmal meaning that exits will be much more in line with Houlihan RX than GS TMT.
Yeah it's a troll post, one of my first! Obvs Barclays is not a powerhouse, but neither is PJT (in the UK).....Have you met some of their recent grads, definitely not the same calibre as GS or JPM in IBD. I'd place all US BBs above them in terms of "rankings". But really, does it matter? If you enjoy work, that's more important than prestige son.
Lemme get a pack of what you're smoking... HL RX has exits in line with other top RX firms on the street (PJT, EVR, etc.)
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