Hey everyone, there is a lot of old info on Guggenheim investment banking and a lot of disagreement about its prestige / ranking. I was wondering if anyone could provide insight on best groups / culture / direction / prestige / exit opps. Thanks!
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Guggenheim is an interesting bank. I have a few friends who work there so I can speak to it. Basically Guggenheim has been growing their practice like crazy. They have brought over a bunch of senior MD's from other banks. They will be on some large deals but the dealflow is not like a BB or more established elite boutique. They might get there in the next few years but currently still growing. Because of their newer platform they also don't have the greatest exits. 2 - 3 top (and I mean super smart) analysts had good exits but had to really work for them. The industry group will determine if you get crushed or not. Most good banks on the street know that Guggenheim is a good bank though as people lateral to Lazard, Evercore, Moelis, Centerview pretty often when they want better exits.
Summary
Strong Technical experience
HEAVILY Group dependent on dealflow / hours
Bad exits historically for MF PE but could change
Great exits to other top banks on the street
Pay above street come bonus seaso
Was interested in this too. Your response is pretty much in line with what I had in mind, based on my conversations with my connections there.
Quick question though - when you say "great exits to other top banks on the street," do you mean like 1st/2nd year analyst at Guggenheim -> 1st year analyst at Laz/Centerview/Evercore? or would a 2nd/3rd year Guggenheim analyst be able to lateral to an EB as an associate hire?
Usually LAZ/EVR/CVR and other firms will need additional people earlier than a recruiting cycle as people quit/leave early, etc. Most the time, the people that lateral end up doing 3 years as an analyst from what I've seen. 1 year at first bank and 2 at the next. If you stayed on at original bank until associate promote, you could also lateral then, but that would be like 4 years out of undergrad and most people don't plan on staying in banking that long.
What are some good groups there? I heard healthcare is very strong (what verticles?)
They have three HC verticals. Healthcare Services and Medical Devices are both very strong in terms of technical experience and exits.
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These comparisons don't lend themselves to clear winners, all depends on what experience you want.
I don't mean to say that their Biopharma group isn't elite, but they do an awful lot of capital markets work as opposed to straight M&A. As you mentioned, they have a handful of very dedicated clients, but fill their time with capital raises when said companies aren't active.
Alternatively, the other two HC verticals are M&A (and LBO, in the case of Healthcare Services) machines, which makes for a more intensive technical experience and a more natural fit for those interested in traditional exits.
Besides PE exits, do you think Guggenheim analysts can get into top business schools (Harvard / Stanford / Wharton)? Or is the Guggenheim brand not enough
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And how would you compare Guggenheim with PJT, another new bank on the street?
@KashIsKing
The main difference I see is that PJT is not technically "new" like Guggenheim, in that it is derived from Blackstone M&A. Exits at PJT are stronger than Guggenheim. I would put my money on PJT but that's just my two cents.
Thank you. You mean you would put your money on PJT's growth / future prospects over Guggenheim's?
For what it's worth, a manager at a student fund I'm in at a target is working at PJT this summer, and he is one of the most technically skilled individuals I've ever met. I know most IB SA know their shit, but he knows his like the back of his hand.
Strongest med tech group on the street and it's not close. Ever since the 2 main hitters from BAML and JPM teamed up they've been crushing it vs. the others (think JPM, BAML, CV and PWP). They've done Thoratec (~4.5BN), St. Jude (~31BN), and about 15 other public sell-sides. Don't have exact #'s but I know they get paid in the Centerview zip code.
Biopharma just got a lot more serious with hires from half the CS team which can't hurt Ken Spriger aka Pfizer M&A's advisor on speed dial.
Can't speak much to other groups other than to say they seem happy with bonus rel to 90-100hr weeks.
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