LA IB to NY PE Feasible?

Is it feasible to recruit for NY MF/UMM PE from a top bank in LA (Moelis/CS/Barclays)? I have heard it is less common given all of the PE opportunities in LA, but does anyone know if it's possible?

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Moelis LA / CS Sponsors / Goldman TMT / MS TMT / Qatalyst / Houlihan Restructuring LA are really the only banking analysts on the west coast that will 100% get looks from NYC headhunters. The rest are fighting for the good west coast spots left behind by those at the top groups, and have very little chance to land a umm/mf offer in NY.

 

It very much depends on a group by group basis. Obviously the kids at Moelis LA/HL RX/CS Sponsors LA are strong enough to make it anywhere given that the interview processes at these shops are much more technically challenging than NYC BB/EB, especially so for Moelis and HL.

Keep in mind that most (>40%) of the kids going into west coast IB are from USC/UCLA/UCB type schools, which are target on west coast, but semi to non target on the East coast. I went to one of these schools and noticed that only the top 20-25% of the banking crowd would end up with NY offers while the rest (including kids who wanted NY) would end up in SF/LA offices simply because it’s where they could get offers.

With regard to PE placements, can confirm from the 2nd years that if you are in GS/MS/Q SF or Moelis LA, you’re considered a top tier candidate for PE on either coast just based off the reputation of the groups. Pedigree is quite important in recruiting, and the perception is that these shops specifically do an extremely good job in separating the wheat from the chaff.

 

I did it as an analyst - 1 year in. You're in a much better position as an SA to just do FT directly in NYC Network now with all BB/EB - it literally doesn't matter which one, honestly DB/UBS give you the same shot as GS/MS at PE if you prep well.

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