Comments (39)

 
Nov 16, 2010 - 8:07am

I've heard consistently, from multiple friends who work/worked there that Lazard has some of the toughest hours and one of the coldest, harshest work environments in the game --- no one above you will have any mercy whatsoever. That being said, it has perhaps the best name out of all those you listed (in my mind). No idea about the others really, though I see people on this site post that they really like it at Greenhill (nice people, slightly better hours, etc).

 
Nov 16, 2010 - 9:54am

As Int'l Pymp says, LAZ has a rep for being a particularly brutal workplace. I have heard good things about both GHL and PWP from people who work there, in terms of both bearable hours and nice people. From the few people I know at EVR, it seems a bit colder and more impersonal, though I don't know that many people there so shouldn't comment too much. Don't know much about HLHZ.

 
Nov 16, 2010 - 10:39am

Echo above comments on LAZ and GHL. Don't know much on PWP or EVR, but HLHZ depends on NY/LA. I have heard LA is a sweatshop, especially for restructuring. NY Restructuring is also supposedly brutal, although the slowdown in that side of the business could potentially lighten the load a bit. Also, have heard exit ops don't justify the hours and culture, relatively to the exit ops from the other shops (bar perhaps PWP which seems to be a step behind the others, maybe because they do a lot of direct promotes).

 
Nov 16, 2010 - 11:34am

Just sayin', I had an info interview with someone at PWP NYC a few weeks ago, and he was by far the coldest banker I've ever talked to. With that being said, I know I shouldn't base my opinion on the firm off my experiences with one banker, but I was really taken aback.

Array
 
Nov 16, 2010 - 12:17pm

Everything I've heard about HLHZ (at least NY) is that its a lifestyle bank. I know 2 kids who worked there (one was there even in 2008-2009) and they said they would get at 7pm-8pm regularly and barely worked weekends. Of course this is anecdotal evidence from a very small sample size so take it with a grain of salt.

 
Funniest
Nov 16, 2010 - 1:25pm

A couple years ago a Lazard (NY) interviewer asked: "How many hours are there in a week? Great, how do you feel about working 120 of them?" My buddy who was being interviewed had the impression that the interviewer wasn't joking.

One of those lights, slightly brighter than the rest, will be my wingtip passing over.
 
Nov 16, 2010 - 1:33pm

2x2Matrix:
A couple years ago a Lazard (NY) interviewer asked: "How many hours are there in a week? Great, how do you feel about working 120 of them?" My buddy who was being interviewed had the impression that the interviewer wasn't joking.

hahahaha

Array
 
Nov 16, 2010 - 4:08pm

2x2Matrix:
A couple years ago a Lazard (NY) interviewer asked: "How many hours are there in a week? Great, how do you feel about working 120 of them?" My buddy who was being interviewed had the impression that the interviewer wasn't joking.

lol. Add to that a very impersonal culture, and working at LAZ could be horrific. Again, it comes with some very good experience though.

 
Nov 16, 2010 - 1:33pm

Wow, 120 hours. That's fucking brutal. I had my first 75 hour week last week and it was terrible. I can't even imagine 120.

-MBP
 
Nov 16, 2010 - 4:32pm

HLHZ is definitely elite, although they may be known better for their fairness opinions. Anyways, I know an associate over at HLHZ and he is worked like a horse - he has mentioned to me that staying past 2 AM occurs more often than not. Keep in mind, that they are currently very busy and have alot in the pipeline. Futhermore, I hear the pay is quite generous.

 
Nov 16, 2010 - 8:23pm

"although they may be known better for their fairness opinions. Anyways, I know an associate over at HLHZ and he is worked like a horse - he has mentioned to me that staying past 2 AM occurs more often than not. Keep in mind, that they are currently very busy and have alot in the pipeline. Futhermore, I hear the pay is quite generous."

That has nothing to do with anything. End ruling: not elite.

 
Nov 16, 2010 - 8:49pm

Evercore is top notch. Caveat is not every analyst gets top level deal experience. No matter how large the deal is (e.g. CenturyLink), there is still only 1 analyst on the deal, usually that person is not a first year. Know people who went to Warburg Pincus this past year also know people who went to no name PE.

Lazard needs to fix its hiring. Over half of the summers did not get return offers. Hot blonde (9 or 9.5 without beer goggles) in their first year class though.

HLHZ is not an elite boutique.....

 
Nov 16, 2010 - 8:52pm

Wasn't Lazard the place where the MD's throw printers at analysts?

People like Coldplay and voted for the Nazis, you can't trust people Jeremy
 
Jul 1, 2011 - 12:35pm

My mentor from early in my career is now a MD at Greenhill. He loves it there, and if he is an indication of the type of senior people they have there, it would be a great place to work. He's the single best person I ever met on Wall St - highly knowledgeable, great with clients and a genuinely good person.

 
Feb 28, 2012 - 8:32pm

Culture and work at elite boutiques vs BB (Originally Posted: 08/18/2010)

For those knowledgeable, what are the differences in culture and actual work done between Elite M&A boutiques and coverage groups at a BB IB? Has anyone seen both sides?

i'll start things off with a basic list of what I've heard, but I could be off...

1) Lot less pitching at boutiques vs BB
2) More open culture and more tight-knit for boutiques vs. BB
3) Better hours (usually, depending on the firms) for boutiques
4) Less BS in general at boutiques - less pitching, fewer layers on a team, more deal-focused than client service-focused, more transparency, etc
5) Obviously more M&A work at an M&A boutique vs. a BB where you also do other products
6) Better name recognition and thus exit opps at a BB??

 
Feb 28, 2012 - 8:35pm

better hours huh..

for some westcoast shops yes

if you are talking about Moelis,BX, Lazard, you are in for a big surprise

You do more deal focused stuff as opposed to a lot client relationship pitching, which IMO is bs

boutiques ( the known ones) usually pay better too from what the numbers I heard across ( lazard might be an exception, I heard their numbers are low as hell but I can't confirm if it's true or not)

Also, you will do a lot more M&A stuff as opposed to capital market stuff ( most boutiques have rest and m&a team and that's it)

However, base don my personal experience, you also run the risk of being the one handling all the work (my last two nights were not fun at all...)

 
Feb 28, 2012 - 8:37pm
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