exit opps - shareholder activism group
Hey all, just wondering where associates/2nd year analysts typically exit to from shareholder activism type IB groups. I know activism defense advisory is offered by some BB and EB banks and was curious if most stay in IB or eventually try to land at an activist fund or in PE.
Interested as well
Bump, I'd also be interested in hearing about where these people tend to exit - not much seems to be available on Linkedin, so anyone with knowledge of this year's exits would be appreciated.
Many of the groups are very new which is why you don't see much on LinkedIn. The top group on the street is Evercore and they formed roughly 2 years ago, so exit opps for juniors are basically unknown at this point. I know that some of them plan to move to traditional investment banking within Evercore.
On the flip side, some of the associates and VP's come from traditional investment banking or private wealth management.
Bump, also interested. Curious if comp is competitive with other product/coverage groups.
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Can anyone who works in this space shed some light on this? Seems like the EBs and some BBs have domination of shareholder activism, but PJT is getting into the space by acquiring Camberview. Are you pigeonholed by going into this?
Bump, anyone have any insight?
Any insight about activism and camberview? How are they regarded vs evercore's activism advisory?
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Thank you fir your reply. I am really interested in a career in activism defense space with an IB. Could you describe shortly what your typical week is in this practice? What should a specific skillset someone had to be successful? Fill free to PM Thank you
A former colleague did 2 years as an analyst in Shareholder Activism (BB, within m&a) and then moved to equity research within the same bank. After a year he moved on to a family office. Just a reference point.
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Any clue how amber capital is hiring juniors? Can PM and explain my situation thanks.
Anyone know what the compensation is for activism groups at Evercore or Camberview? Do they pay in line with IB analysts with a lower bonus, or is their entire comp lower?
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Haven't found much info on activism defense on WSO or elsewhere. Curious to hear more about your experience, as I've applied for a FT position at a similar group within another firm.
Bump - interested in PJT Camberview comp here - feel free to pm
Just spoke with an analyst in the Shareholder Advisory Group at Evercore. He said pay for analyst positions in SAG is directly in line with M&A roles (at Evercore ~175k after bonus).
But he stressed the limited exit opps as the downside, with most people having to lateral to M&A then basically start over the analyst track.
Same base and same bonus, EVR doesn’t really bucket regardless of group. RX, MA, and cap markets all get paid roughly the same
I’ve spoken with a guy on the team, says base is in line and I think bonus is the same or marginally lower. Just commonly regarded as less prestigious with worse exit ops
Bump: Curious to see where junior level people leave to...seems like consulting would make sense as an exit opp no?
Yeah, I have the same question
Bump - any info regarding exits?
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Its a much less quantitative role, so I've heard people struggle to make the traditional exit opps, and sometimes have to do some additional time in coverage/m&a before they can make the buyside jump
anyone have any idea what the hours look like for shareholder activism? It is in-line with the rest of the advisory groups?
Anyone know hours?
Experienced analyst here at an EB (Evercore/PJT/Lazard) on the defense team (spent prior years at a proxy advisor and an institutional investor in the activist investing/proxy voting space). Compensation is in line with any other banking groups in the firm. Base and 100% bonus. Exits are unique from traditional IB roles, I will agree that going to a activist investor is not common from a defense team due to lack of hard skills. As you meet people in industry and develop campaign knowledge it is doable especially when being able to use your experience from involvement in prior campaigns and knowledge of standard themes like company underperformance which is always the crux of the issue. All the less, I know folk who have gone to top Activist Funds (Elliot/Starboard/Trian) as well as head IR teams at other companies. PM if you have any specific questions.
Interesting, do you know if all three firms you mentioned paid in line with other banking groups?
Not PJT -- see the other thread for my more detailed commentary.
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