Currently have an offer from one and an AC coming up at the other. Planning on staying within finance long term (name brand outside finance isn’t that big for me) but want some optionality/flexibility in case banking isn’t what I want to do long term. Which bank would be better for a MF/UMM exit in london? Thanks much appreciated
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Unless you are keen on restructuring and assuming that you are not ending up in ECM/DCM, I would go for JPM. Most funds have a preference for BBs given the broader experience (i.e. M&A, LBOs, IPOs etc.) and historical stronger presence vs. EBs which are much better in the US. I know for a fact that some funds are only looking at BBs when hiring.
PJT will pay more and no need to specialize in an industry and no risk of ECM/DCM as well (just to give PJT some pros).
Thanks - just to follow up on PE recruiting, how tough is it to break in even if you’re at a top BB like JP? Also would your advice above hold the same for L/S HFs? Thanks again
How tough is super hard to quantify, but most of my friends at Top/US BBs and peers that wanted to do UMM/MF PE got to do it, most of these guys were top bucket which helped (good deal exposure, good modeling skills, etc) and spent a significant time together preparing in addition to speaking one or multiple europan languages in addition to English.
L/S HF really depends on what you are after, SMs are super hard to get in London, MM platforms are much more achievable but not something that I & my friends have looked into so it would be an educated guess at best.
Would go with JPM, really good brand and broad exposure.
You will be fine with either one. Personally would go to PJT for a bit more money and a nice Mayfair office.
What’s PJTs rep like in london relative to other EBs and BBs? obvs they’re top tier for RX but supposedly their M&A is somewhat lacking compared to other shops?
Decent enough for your profile to be looked at by most PE shops. How you do in PE interviews is up to you, not PJT vs GS/JPM/MS/LAZ.
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