DB NYC vs Guggenheim NYC vs RBC NYC (M&A) vs TPH (PWP) Houston for 2019 SA -> FT
Currently hold offers for all except one listed above. Need to make a decision by the day after the superday of the bank I do not have an offer yet from. More about the situation and what I know:
DB NYC: No idea what the hell is going on with this place. Some tell me it's a low-tier BB going through some tough times right now but claim that there won't be any major changes to the investment banking division and that most cuts in the U.S. will be in the S&T side. Some people think their U.S. business is the next Lehman / Bear Stearns and will be gone in 5 years. Really loved everyone there and seems like a great culture. Not sure what the M&A specific dealflow there is like right now and have no idea what compensation is like. Historically has 80-90% FT return offer rate (with some even being 100%). No idea what PE placements are like (guessing MM PE at best)
Guggenheim NYC: I honestly don't know much about them and the prior threads on them are either really positive or really negative. Spoke with a couple people there who claim they almost exclusively do M&A work and range anywhere from a $100-200 million deal to deals way larger than $1 billion (like Disney-Fox). Heard the culture is a little more cut throat due to carrying the Bear Stearns legacy. Didn't really start the IBD until after the crisis, so relatively new? No idea what the compensation or FT return offer rate is like, so any information on that would be very helpful. No idea what placements are like (also guessing MM PE at best)
RBC NYC M&A: Has been growing their M&A business in the U.S. like crazy recently. The M&A team claims that they have started to compete against the mid/low-tier BBs like CS/Citi/DB/UBS and sees themselves "definitely being a mid-tier BB in 5 years" if things continue to go their way. Claims the deal flow has been pretty insane. Unbelievable culture from my interactions so far, and it seems that their compensation is just a bit over the street. Historically has 70-80% FT return offer rate (maybe higher). Also no idea what placements are like, but I see that most people just stay on as associates (maybe very hard to go into MM PE from RBC?)
Tudor Pickering Holt (TPH) - Perella Weinberg Partners (PWP)'s Oil & Gas arm in Houston: I know for sure that this is definitely the best choice in terms of deal flow, compensation and exit opportunities. Out of the 6-7 analysts per class, usually 1 goes to KKR Energy Houston, 1 to Blackstone Energy NYC, 1 to Blackstone GSO Energy, 1 to Riverstone, rest stay on as associates for apparently higher compensation. Confirmed 1st year analyst compensation all-in is around 175-185k, which is insane with the cost of living in Houston. 100% FT return offer rate and supposedly great culture and only does M&A work. Only con is that I have no idea if I even want to do Oil & Gas and don't know if I want to be in Houston for 2 years (no friends/family in anywhere close to Texas). However, TPH and PWP offers a guarantee that if I end up hating Oil & Gas or Houston, I can move to PWP's NYC office after 2 years in Houston to be a 3rd year analyst and then move on as associate there and such. Again, great exit opportunities except idk if I want to do Oil & Gas / Energy for the rest of my life. Preference is definitely NYC, as there is no way in hell I'm living in Houston more than I have to.
My end goal here is to go to a pure MM PE firm in NYC after 2 years as an analyst (but I'll definitely take MF Energy if I sign with TPH). Any additional information or comments to what I have said above will be very helpful. Please rank those firms, taking in consideration that my end goal is MM PE in NYC.