Defeating the Top Groups Myth

Mod Note: Throwback Thursday: this post originally went up on 3/15/11.

So I've been reading these forums for a very long time - since I got to College really. They've been very helpful at certain points (certain people helping out with interview questions) but I found that there is such a massive amount of misinformation that seems to dictate how a lot of kids handle recruiting. I have a lot of time on my hands at the moment and figured I'd start posting here. Might even start a blog or something. FYI, I interned at two BB banks in IBD, including GS. I decided to jump ship to a better place and am just waiting to start now.

You have no real reason to believe me, but I got offers from GS, MS, Laz, and one more of the BB, where I interned my first summer (don't want to give too much away). Obviously I went to GS for my second summer.

In a nutshell, since the goal of a lot of kids who go into banking is to get a job at KKR/BX/TPG etc, here are a couple of clarifying facts:

  1. Goldman Groups
    When the 2nd year analysts were all leaving, they send firmwide or division wide emails detailing their plans. Tons of kids were headed to the aforementioned PE shops and it was NOT majority TMT kids - they weren't even the most represented IMO. Tons of kids from Industrials, CR, FIG, NR, etc were in the mix and appeared just as frequently. I had met some kids from TMT that didn't do anything for their first 6 months in that group, making PE recruiting extremely difficult for them. Everything is a bit different there now that they've instituted their new policy on timing of recruiting and I'm not sure how that's affected people, but I imagine it's only hurting and frustrating a lot of analysts. Every industry group in GS does EVERYTHING. Capital structures, M&A, equity raises, anti-raid, retainer advice, LBOs, etc. You really just want to avoid groups such as credit and lev fin, along with sponsors which really does nothing at GS.

  2. MS Groups
    MS M&A is a great group, no doubt. Doesn't mean because your in industrials or tech you are at any sort of disadvantage. I have friends at one of the toughest buyout shops to break into who were from MS but not M&A. And meeting their colleagues, you realize there are kids from the most random groups (ones that people on this board dismiss all too easily)

  3. Moelis
    I'm assuming it's trolls that were going to start working there, but all this hype about MoCo is unsubstantiated. I don't have much to add to that. A couple friends interned there, I know one kid who left, but they seem to push this culture down your throat and everyone starts drinking the kool-aid while they are there

  4. Lean shops
    Honestly, if your looking for the best experience, get into a lean group - most GS groups are like this, Laz sort of is, and a lot of the great boutiques (Greenhill, Evercore, PWP - although they are not good for PE recruiting) and I believe many of MS's groups too. You can chat all you want about this bank or that bank, but it's really about the experience you gain in two years and how that positions you for your next job

 
FOXHOUND:
2. MS Groups MS M&A is a great group, no doubt. Doesn't mean because your in industrials or tech you are at any sort of disadvantage. I have friends at one of the toughest buyout shops to break into who were from MS but not M&A. And meeting their colleagues, you realize there are kids from the most random groups (ones that people on this board dismiss all too easily)

Great post, FOXHOUND.

I don't know why people always dismiss MS groups outside of M&A. I know that usually 1-2 analysts sometimes more) in the tech group get offers from just SLP/TPG every year. Sounds like solid placement if you ask me... (though to be fair, the group is similar to GS with internal M&A).

 

Actually, MS Menlo splits up their tech m&a and tech coverage teams. NYC basically has a media/telecom group - I'm not sure if they do everything themselves or export to M&A

 
FOXHOUND:
Actually, MS Menlo splits up their tech m&a and tech coverage teams. NYC basically has a media/telecom group - I'm not sure if they do everything themselves or export to M&A

This used to be the setup a few years ago, but they have since integrated the two teams. There are analysts that are designated to do more M&A work, but no separate division.

 

You post should be BANNED for ruining my childhood dreams.

Every night, I dreamt of working at GS TMT/MS M&A...

Where I will be making millions with models & bottles...

When I could straight up tell the other monkeys "I'm GS TMT bitch show some respect", and they listen...

Where I could enter a bar, say I'm at GS TMT and panties start dropping...

When I could scream at the useless ops MD for taking too long to fix the printer, even if he's 20 years older than me...

When B-schools will start cumming when they see GS TMT on my resume...

And you're saying this is not true?? SCREW YOU MAN

 

classy...this is like a "peace out I'm going to PE" email for college, except with lots of useful information just to add, Goldman Industrials and FIG are almost as heavily targeted as TMT though, so their inclusion isn't necessarily a direct counter to the top group argument also, the LevFin/M&A route only works with good dealflow, because your competitiveness is based on modelling/crunching skills based on handling that dealflow, and less so on selection prestige and industry knowledge as would be the case with a top coverage group - in other words, you can pick up a lot fro senior about financial institutions or oil and gas without deals, but you can't learn how to handle difference tranches and special scenarios in a waterfall without doing it

 

Since this is for a summer position, I would probably go with MS. While in reality, MS isn't quite what it used to be, it's brand equity is still extremely powerful. You really can't go wrong, but I think for the moment, you jump on the MS ship, get into a good group (again, doesn't have to be M&A), and kill it during your summer. Worst case scenario: Your an analyst at MS. Other scenarios: You can get back in touch with alums at JPM, which shouldn't be too tough as long as you explain to them what your doing and why, you could move to a different group in MS, or you could go to a different bank.

I say this because you haven't done banking yet, so you don't even know if you'll like it at all (in which case, you'll be looking at other options - MS will help more for getting interviews), or maybe you don't like the BB model (in which case jumping to a boutique is easier from MS), or maybe you become a tool and decide you need to work at GS (in which case, MS going to be far better than JPM)

All that said, if you really like the people in the groups at JPM, run with that. Your looking at 2 years of hell if you decide to take an offer at these places, so you need to be around people that will make that experience livable. But, often times, people (including alums) are a lot nicer in the recruiting process than they are once your working. I would try and talk to one of your alums at JPM in a candid conversation about your options tonight.

It's a good problem. Don't sweat it too much. Full time decision would have been a bit of a different story.

 

Great post.

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
 
2x2Matrix:
2x2Matrix:
I'm giving you a SB because you're clearly smart and not talking out of your ass. Stick around, please.

How the fuck did this deserve monkey shit?

There has been a lot of monkey shit throwing recently....

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

You'll technically be on the deal, but FSG is just there to maintain the relationship. The analysts are often making books just to keep that relationship going - if a sponsor is looking to buy a target or sell a company, the industry team is going to come in and do all the analysis/modelling.

LevFin et al are always added as support for the industry team. If a company is trying to pull in $500mm, LevFin/Credit are going to provide the details that go into the main analysis done by the industry group team. It's a very repetitive function apparently. Hours are definitely better though.

 

@2x2/beef - Thanks, I'll try to stay active here. @theking - Nice MGS references

@monkeyc - I agree with your additions about groups like GS Industrials/FIG. My whole thing was that there seems to be this thing about JUST GS TMT, MS M&A, BX M&A, and formerly UBS LA on these forums. Obviously there are better groups and other groups that lag a bit behind - I saw the difference between two first hand (first internship=not such a good group, second=great group).

 

I'm not sure what restructuring deal flow is like now - when I was interviewing for summer spots, restructuring was still going strong. That said, in the US, Laz restructuring is a pretty great gig - you'll get a ton of modelling experience and each project will be interesting.

Laz M&A is always respectable, no matter the group. I'm not sure which groups are better than others, but I think more just might have to do with what's going on in each industry as you approach your 2 year stint - for instance, if you were starting during the recession, being in FIG, you probably saw a lot more deals than you would in industrials or CR.

Maybe someone else can comment more on Laz's specific teams/focus areas.

 

Honestly, don't worry about that till your sitting on offers from all those places. It's just a waste of energy and just creates a feeling of disappointment if your told that bank A is inferior to bank B yet you end up getting an offer at bank A. In reality, you should just realize that you got a sweet, very desirable job out of undergrad and be throwing yourself a party.

 
Best Response

Thanks for the info.

But I would caution against the logic that not everyone that went to KKR/BX/TPG wasw from GS TMT, therefor the significance of being in that group (or GS FIG, IMO) is overstated. My experience has been that these groups generally have the easiest access to top PE positions. (notice I said "access", as in its an opportunity available to you, not that you're a lock) While there may be an analyst from Rothschild that went to TPG, that doesn't mean that the alleged advantage of GS vs. Rothschild is moot.

 

Marcus, I totally agree with the access bit. - someone in GS TMT has much more access than someone at Rothschild or the like. But I can't say I've seen someone in an industry group at GS not have access. My point in the original post was simply that the emphasis on certain groups in particular is overstated on these forums.

There are plenty of absurd hypothetical posts of "GS TMT or BX M&A?" because there is some prevailing myth that being in TMT at Goldman is far superior for your exit opps than being in a group such as industrials. Same goes with MS M&A when people advise kids NOT to take MS offers because they aren't locks for getting into the M&A group. That's just plain foolish.

It's hard to have legit data on any of this because you won't really know which kids got offers year in and year out and the sample size is never very large. But the various data points we do have don't allow anyone to draw such lofty conclusions such as GS TMT and MS M&A are the best groups on the street, no question about it, for PE placement. It might be true some years or it may not be. Also, it might have a factor of self-selection as well that no one seems to consider - kids that know they want to jump to a KKR/BX right after 2 years are gunning for those groups. There are PLENTY of analysts at GS that do NOT jump to a PE shop after their analyst stint. In fact, the amount was rather shocking and the different things people were doing were pretty crazy - working on TV shows, PhDs in the sciences, NGO work, etc. I'm fairly confident those kids never had the intention of going into a large-cap buyout shop and instead aimed for a group such as energy.

I could throw out a random data point such as Llyod's kid was in NR and draw all sorts of conclusions off the fact that the CEO of GS had his kid put into natural resources. But that's crazy talk. His experience at the firm will be extremely unique obviously, but ultimately, everyone analysts' experience is going to be unique.

If more people were able to put some nuance into comments about groups as you've done, Marcus, things would be a lot better.

 

@HappyThanksGiving - I understand that you have an offer at Lazard, but there isn't any point of fretting too much about other banks you don't have offers at. If you decide that you don't really like Lazard and want to move to a BB, and your only offer is JPM, you have a totally different situation on your hands than if you had an offer from GS.

Cross that bridge when you come to it - Laz is a great shop, albeit a bit rough. Just make the most of it and cross the FT bridge when you get to it.

 

Great post. Here's my $.02

There is a parallel between getting into PE and getting into banking. As the "target" schools will help one land a job in a top group, so too will "target" groups help one land a job at a top PE firm. However, this is only one factor for getting into PE. When all is said and done, one deal is not a "get into KKR free" card. These groups will get you past the gatekeepers and headhunters. In fact, a lot of these groups and deals may give a candidate sought after interview on the street. However, there are many factors that matter besides group. If finance is really what you want to pursue a career in, I think you should find a reputable bank where you will get the best experience possible. If a rockstar from a bank like Raymond James knows a director at Apollo and he/she can crush the interview, he/she will get the job over the GS kid.

 

Useful post to put things into perspective, altough its still not easy to assess how much of an advantage top groups give you. Id also be more interested to hear some input from people in PE already as they have a much better picture of how who places id imagine?

 

Beautiful post. Just to piggyback, if you're an incoming SA considering different groups, the best thing you can do for yourself is to talk to several people in the groups that legitimately interest you. Through these conversations, make a decision on what group will give you the best experience for what you would like to do after your first two years in banking.

 

Yeah, again, I agree with the target group mentality - if you kill it at GS TMT your better off than someone who kills it at BofA tech. @leveredarb - PE folks would have a better perspective. I lived with a kid that was at one of the most elusive buyout shops, so I met a bunch of his co-workers and talked to them about their recruiting processes - that's my main source of info. We're never gonna have real data to make accurate assement - too much depends on your own individual experience and luck.

Take a situation like the following: At GS, IMO, the best place for girls is healthcare. If your a girl choosing between healthcare and industrials, and decide that you want to go to a BX after banking and chose industrials based on that, even though you loved the people in healthcare, there is no guarantee your getting staffed on a Boeing or GE acquisition, especially if most of the people don't like you, which is just going to make you hate your job. You might have been able to build a good relationship with people in healthcare and eventually get staffed on Pfizer. To reiterate: Perceived prestige based on buyout group placement is not the best way to pick a group.

 

@ucla - I have no idea how kids at Moelis did this year and am not sure if there is accurate information about that. My issue with them on this board is that they are hyped up to the point where people make a decision to join them based on that hype. They're rather abusive apparently when it comes to work and they often end up on the back leg of the deals they are on (read=no substantial work, but fee for the MD).

Kool aid is too strong, it needs to be countered so the perspective is balanced. Also, they have no respect in the eyes of of people I've talked to at both BB banks and in the eyes of some associates at PE shops. They might be having seniors make calls for them and getting placement into PE gigs, but most people seem to find them annoying.

 

I appreciate the insight, and would definitely like to hear more of your opinions.

I'm struggling because I've seen a lot of negative comments re: Moelis (a LOT of posters have explicitly stated that they're inferior to other boutiques). More importantly, I don't see validity in any of your points.

Working on the back leg of deals is a bit of a silly comment given the volume that they process (especially in restructuring over the past 1-2 years).

Abusive when it comes to work...not sure anyone ever claimed they were anything other than a sweatshop? What you see is what you get?

Anecdotal evidence re: respect doesn't mean a lot. Given their placement into private equity (strong, which is substantiated by the MS/KKR poster), I don't really know what to say to your comment re: the PE associates. If they're being hired, they're being hired. I think that's the ultimate statement of respect.

Definitely feel free to disagree, however, I currently don't think you're very informed on this subject (your posts are quite vague/anecdotal). Do you have anything more substantive?

 

@ucla Like I said in my first, no one has any reason to believe me or anyone on an internet forum really. Of course my evidence is anecdotal - whose isn't? What is your source for Moelis placing analysts well? I know that the first batch of kids who went with Moelis from UBS LA did well, but they seemed to be a different crowd. UBS LA had great west coast placement, that's a fact. But, Moelis hires a ton of kids - they have a competitive internship process too, not enough spots for everyone.

I threw Moelis into the search box, first few posts were absurd - analysts going to every single top shop. Well, maybe it's true, maybe it's not.

But, since you have decided to make a point to discredit my anecdotal claims, I did a bit of digging quickly, using our friends @ Google and LinkedIn:

-Carlyle has 2 kids from Moelis. 1 who was a UBS legacy kid in their buyout group and another from MoCO LA who is in their distressed and corp opp group in London.

-KKRs website has 0 kids from Moelis. Granted, they don't list pre-MBA associates. LinkedIn tells me there is one kid, who was Wharton->GS Summer->Moelis FT->KKR Westcoast. He is in asset management, not PE.

-Blackstone has one kid on LinkedIn - Jeffries Summer->Moelis FT->Blackstone Analyst in GSO Capital Partners.

There you go. Three data points, I'm not going to spend my time looking at TPG, Apollo, etc - you can do that yourself. LinkedIn maybe isn't the best source, true, but I have seen nothing to suggest the contrary. Even 10xLeverage's post re:Moelis stated that the legacy UBS LA kids did well placing into KKR/TPG West Coast- I didn't see him mention anything about the up-and-comers. I have no incentive to bash Moelis other than I find some of the kids who were there to be annoying when speaking about the firm and I guess I have some investment in correcting misconceptions for the sake of the truth.

Lastly, I'm guessing you've never worked in banking whatsoever. You probably don't have a lot of friends in banking either. If you did, you would understand the massive difference in being on the back-end of a deal when you just printing PIBs because an analyst at another bank is telling you to do so to be ready for the next joint meeting. Like I said before, having worked at a not so great group my first summer, then at a great one, I felt like I was doing a completely different job and was much happier - I didn't mind being there late and not getting much sleep because I was doing work I found interesting. Furthermore, I think that when people claim they're a sweatshop, they justify it by talking about the sweetness of the deals and the exit opps. Sweating it out working on finishing a model or putting the final touches on committee memos for a deal that's going live is a lot better than making company profiles at 3am because your MD is a pitch-a-holic.

 

I don't know much about the analyst experience at Moelis. It might be great, might be terrible. And yet, I've heard from one of their analysts that their PE placement has been great this year. among 20~25 analysts (NY & LA), 8 got offers from megafunds (think TPG, SLP, Apax, Apollo), 2 middle market PE, 1 20+ billion HF. Last year (Summer 2011 Start) they sent kids to KKR, Warburg, SLP, TPG, GTCR and few HFs. they were the 1st non-UBS LA legacy class.

 
dbdbdip:
I don't know much about the analyst experience at Moelis. It might be great, might be terrible. And yet, I've heard from one of their analysts that their PE placement has been great this year. among 20~25 analysts (NY & LA), 8 got offers from megafunds (think TPG, SLP, Apax, Apollo), 2 middle market PE, 1 20+ billion HF. Last year (Summer 2011 Start) they sent kids to KKR, Warburg, SLP, TPG, GTCR and few HFs. they were the 1st non-UBS LA legacy class.

Does anyone know how the Chicago office of Moelis places? I went through their interview process awhile back (unsuccessfully) and thought they were decent. Some of their guys talk about great opportunities but I'm not too sure...

 

I'll speak to you further about this via PM. I don't want to get into a flame war with you, but I will say your comments are largely off base thus far (for instance, I wasn't saying your "back-end of the deal" comment was silly because I didn't think being back-end mattered, but because Moelis is clearly not on the back-end of the majority of there deals. Given the large volume of deals they generate, it's fairly expected that some will be back-end).

Also, to clarify, I do have two summers of banking experience. Definitely far from an expert but I'd like to think I'm not completely uneducated at this point.

 

So, I hate to keep this going, but I feel obliged to clear this up (Moelis):

I've heard all this too about great PE placement (threads like this: //www.wallstreetoasis.com/forums/amazing-Moelis-analyst-placement-again) - I just haven't seen/heard evidence. People were saying things like this last year, but the evidence points to the contrary. I posted a couple links earlier - KKR (1 kid in Asset Management, not PE) / BX (1 kid in GSO, not PE) were LinkedIn checks. Anyone can jump on LinkedIn, put Moelis in for past employer, and see where almost 60 past Moelis analysts ended up - it's not particularly impressive: http://www.linkedin.com/search/fpsearch?title=Analyst&currentTitle=P&co…Moelis&currentCompany=P&searchLocationType=I&countryCode=us&page_num=1&search=&pplSearchOrigin=MDYS&viewCriteria=2&sortCriteria=R&redir=redir

Carlyle: http://www.carlyle.com/Team/Alphabetically/item7697.html 1. Legacy UBS LA kid: http://www.carlyle.com/Team/item11852.html 2. Moelis LA kid, in Global Distressed/Global: http://www.carlyle.com/Team/item11078.html

Silver Lake: 1. From Moelis LA: http://www.silverlake.com/content.php?page=team-investment&id=associates

GTCR: 1. http://www.GTCR.com/who-we-are/a-c/crowne-nicholas-y/

I'm 99% sure no one is at Warburg Pincus from Moelis. I know people that the analyst in NY are GS, MS, and Glecher. I'm sure there are others. I saw one kid on LinkedIn at TPG Growth, but as far as Apollo and HF go, I don't see any reason for anyone to believe that beyond heresay on a message board promoted by kids who are either a) At Moelis b) Summers from Moelis c) Going to Moelis.

But for a fairly large analyst class for a boutique, recommending MoCo as adamantly as people do on this forum is still unsubstantiated...It's possible I could be totally be off base here, but based on word of mouth and a couple of minutes of research, that scenario is unlikely. Not trying to bash, just spending my time defeating misconceptions for prospies.

 

So you're telling me that based on "word of mouth" and "a couple minutes of research" you felt it was necessary to post a topic bashing an elite boutique "to help prospective bankers"? It sounds more like you don't know what you're talking about, not sure why you felt you were an expert / that a definitive statement was appropriate. "Unsubstantiated" for you, perhaps, but not unsubstantiated.

If a first or second year analyst familiar with Moelis placements could please comment, it would clear up the OP's misconception.

If you haven't worked full-time in the industry, you might want to refrain from making these types of threads..?

 
ibdhopeful:
So you're telling me that based on "word of mouth" and "a couple minutes of research" you felt it was necessary to post a topic bashing an elite boutique "to help prospective bankers"? It sounds more like you don't know what you're talking about, not sure why you felt you were an expert / that a definitive statement was appropriate. "Unsubstantiated" for you, perhaps, but not unsubstantiated.

If a first or second year analyst familiar with Moelis placements could please comment, it would clear up the OP's misconception.

If you haven't worked full-time in the industry, you might want to refrain from making these types of threads..?

Haha this kid must be entering/currently at Moelis. Maybe you should've worked harder to end up at a BB

 

Quite honestly, word of mouth from former Moelis summers and people in PE + data from company websites / LinkedIn is more than anyone on the opposite side of this debate has offered. No one has presented any sort of evidence on the contrary.

I wouldn't bother to make such a big deal about it, but if you type "Moelis" into the search function, you come across some absurd things, even when people with PE markers next to their names are trying to calm the hype down.

 

Haha what's going on here. Yeah I agree that Moelis kinda lost its momentum which they have shown in 2H 2007 / 2008. Most of their deals (sell-side M&A) seem to be sized under $1B. But surprisingly, their placement seems to be consistent and pretty good, on par with other top shops.

Calm down and look at my post above again. Warburg, KKR, GTCR, SLP, Providence, MDP, etc. are Summer 2011 start. They are the 2nd class of Moelis and the 1st non UBS LA legacy kids. And their 3rd class (Summer 2012 start) did pretty well (Read my post above again). These are all confirmed by one of their 3rd year analysts. And of course, it's not everyone. Not all of their analyst class including lateral hires are super stars. They do have a huge class. Similar to LAZ's class, 15~20. But 30%~50% placement into top PE/HFs is very impressive I think. I'm also curious how they can do that without stellar deal experiences on their resume.

 

Yeah, first two classes were actually pretty small. It's really pretty stupid to try to call that bad placement. And I love your "GSO/KAM, not PE" comments as though working for the credit hedge fund arm of a megafund somehow isn't also pretty sweet (and not surprising given Moelis' restructuring focus), though I am pretty sure both those kids were Moelis LA/legacy UBS LA. On that note,though, a quick linkedin search shows that last years class also sent someone to Avenue Capital, a really good ~$20B credit hedge fund.

The class size didn't start getting huge until the current 2nd years. That's basically Moelis' problem though - they've expanded way too fast. Though the core group of guys (Moelis, Navid, etc) is great, they've hired way too much mediocre talent lately at the senior levels and the quality of experience for analysts has gone down as well. Apparently they still did well this year though. I didn't run into any Moelis kids during megafund recruiting, though I definitely saw a ton of GS, MS, BX, etc.

As a disclaimer, I don't work for Moelis. My only professional experience with them was then they were brought in last minute to do a fairness opinion since my group was lead financial advisor and also doing the financing on an acquisition (ie were pretty conflicted), which is fairly shitty work.

 

Their M&A declined over the past 2 years as their restructuring picked up. I think a benefit of MoCo is that they're flexible enough to do restructuring during bear markets and (hopefully) pick up M&A in the bull markets. Looking purely at their M&A in the past year or two isn't really representative given their restructuring focus.

 

Yeah, I mean, I don't think it's a BAD place to be - none of these banks are. Kids going to great shops is indicative that you obviously have opportunity coming out of there. If the earlier posts/discussions had included some nuance as some of these recent replies have, I would have not taken much of an issue with this. I understand that recent placement is going to be 2012 start and last years placement hasn't actually started yet either - again, not taking issue with that, but in the past, people were saying very lofty things that were exaggerated.

IMO, working at one of those arms of a major fund is pretty sweet - but there seemed to be this rampant obsession with buyout funds and IB placement into those funds was how people rated their preferences.

No one is screwed because they work at Moelis - if your good, your gonna have a shot at interviewing at some great shops. Just don't think "Hey, I want to work at KKR/BX/WP, so I should take Moelis over every other offer I have, no questions asked."

Let's put this to rest?

 

I don't think anyone ever said prospectives should take Moelis over every other offer. Based on the above posts, they have placed at KKR, TPG, Silverlake, Providence, Apex, Apollo, etc., which is in line with what was previously claimed. I'm just not sure what exactly was exaggurated at this point.

I guess your perspective is that you're not able to directly substantiate these claims, so you're skeptical. That's quite reasonable and I don't blame you. I suppose if more analysts would comment on this, it could clear it up.

 

This guy obviously doesn't know what the hell he is talking about. KKR's hedge fund and BX GSO are arguably better and more competitive jobs than their respective private equity positions. You are 99% certain that no one went to Warburg? Well I am 100% certain that there is a 2nd year analyst going there next year. Please stop using linkedin as your only resource. Finally, there are definitely some large deals (along with smaller ones) going on at Moelis if you look at this list (http://www.Moelis.com/advisory/selectTransactions_A.php). You also have to look at the quantity of deals they get compared to other boutiques (http://phx.corporate-ir.net/phoenix.zhtml?c=66653&p=irol-ir_rectrans2011). I think MoCo is neither overrated nor underrated based on this, their known placement, and talks with some analysts that work there.

 

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"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

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  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
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  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
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notes
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From 10 rejections to 1 dream investment banking internship

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