Guys please help to choose: Mckinsey/Moelis/UBS/PE Fund (Ex Lehman Fund) ALL FOR LONDON!

Hey guys!

I need to make a quick choice in 1~2 weeks and I would like to hear your sincere advice on this. All the positions are for London.

Some thought from my side:

  1. Mck:
    Pros: Best brand name, wider exposure (both corporate finance and strategic consulting), more traveling (I like traveling), less weekends work, and more responsibility (I assume)
    Cons: Completely new area, language/culture barrier (as I am not Brit), less pay (c. 40% lower in the first two years?), and how much value does consulting really add?

  2. Moelis:
    Pros: Broader exposure within banking (M&A and Restructuring), more responsibility, easy access to senior bankers, strong growing prospect, and training (1 month in NYC)
    Cons: Unrecognised outside banking, limited deal flows in Europe, lots pitching/menial work involved, known as sweatshop (working extremely hard...), risky prospect (develop too fast)

  3. UBS:
    Pros: Strong brand name (esp. in Asia where I want to go in the future), stable and structural routine, very likely to be put in the M&A execution team (exposure to bigger and more complexed deals), wider network
    Cons: Lots crappy jobs in the 1st yr, very hardworking, limited exposure to senior bankers/clients, limited responsibility in the 1st yr

  4. PE Fund (6m internship):
    Pros: Ex Lehman PE arm (c.$3.5bn), small but very strong team (c. 15 professionals in EU), strong passion in PE (would like to have some inside views), great culture and work atomsphere, and less hours
    Cons: It's only an INTERNSHIP and very HARD to convert to a FT afterwards!

After all I could prob do the PE internship first (Part-time basis) before starting a FT job but this also means that I couldn't even be considered as a FT after the internship...

Any inputs are really appreciated!!

 

First decide consulting or banking.

Assuming you pick banking.

If you already have offers for FT, why compromise that by taking the PE (even if it does sound like a great gig)? You said it yourself, "very HARD to convert to a FT!"

Assuming you eliminate the PE - you have Moelis and UBS.

First stop saying "hardworking" as a con; you will work hard wherever you go, especially with the kind of money you'll be making.

Now, Moelis and UBS are very different. Moelis is a boutique (albeit rapidly growing) and its UK arm isn't as developed yet as US. That said, it also offers the chance to get in on the "ground floor" and work on M&A and restrx.

UBS is a globally recognized brand name that has seen up and down and up-again swings over the last decade. M&A would be a good group to join. And as you said, you want to go to Asia, where UBS is still in the top 3-5. Bulge bracket, which means fattier deal teams and arguably not as good experience as at Moelis, but Euro deal flow at UBS may compensate for this.

It really comes down to BB vs. boutique, which you can search.

And stop with the CAPS and !.

 

Thks for the advice analystforhire. I do prefer banking in general but I was runing a student consultancy for 2 years and I really enjoyed that too. I applied only to banks/PE except Mckinsey as I am interested in getting to know their CF practise.

Anyone can shed some light on that practise? I have searched the forum but not 100% sure about what it is...

Re. UBS could anyone give some ideas about their M&A team?

Thks

 

I know it's a mixed decision between Consulting vs. Banking and BB vs. Boutique but I would like to have some insight for these companies/teams before making the decision.

Could anyone who worked/are working at Mck/UBS/Moelis send me a PM about what you thought?

I would like to do PE in the mid run and have my own business in the long run.

 

Moelis, absolutely. UBS is dead and Management Consulting is a different game altogether.

If your end-game is PE and these are your offers, then it has to be Moelis. You will get excellent PE exposure here if you positioned yourself within the Fin. Sponsors Group. Mike Magliana has came over from from JPM Fin. Sponsors and that means future clients will be the likes of Bain and CVC.

With regards to Moelis, current Analysts have not yet completed a programme, so it is difficult to assess how well Analysts are placed into Business School.

Are you French?

 

If you are working in London and you pick banking, I would suggest UBS. You will have a tough time getting a good perspective on UBS on this forum, as it is highly skewed towards an American perspective. If these offers were for the Americas, Moelis would be the best choice. However given that your offer is for the London office (and your interest in Asia), it's a whole new ballgame. I believe you will get exposure to some good deal flow in EMEA at UBS. If you are considering consulting at all though, McK looks to be a step above the rest of your current choices.

 

Sorry I have focused more on deal flow in the Americas lately, but I recall UBS building a crafty reputation as defense specialists being on some of the best deals available for the London region (Kraft/Cadbury deal of course, and they got the spot on the highly publicized Newscorp/Sky deal with MS I believe, plus enough other deals to keep them in the top 10 in the region).

You may be right Clarkey that Moelis is also getting on some good deals, but I think the M&A team at UBS in London still edges it out keeping in mind his view of transitioning to Asia as well. If you have more info on Moelis I'd love to check some out, but I quickly skimmed some EMEA tables and cannot find them doing anything that would make me choose them over his UBS offer.

Just my 2 cents... and to be honest you won't go wrong with either. It's going to come down to how you perform and how you make the connections required to get you to your end goal.

 

Thanks for all the advice guys!

Could someone give some insight about Mck Corporate Finance practice?

And does anyone know if I could/should negotiate the starting salary at any of these? It is not a big deal but if any of these are happy to raise your payment, it at least means that she cares about you right?

Cheers!

 
iownworld:
IMO UBS suffered a huge rep damage in the states but in Europe/Asia they were still pretty solid whilest Moelis does not have enough dealflows outside US. However Moelis has hired lots of senior bankers and I assume the exposure one has there is much better comparing to UBS. And that's why I am still undecided at the moment...

For a less businessy view on things....

From the people I've met from UBS they have a great culture, all friendly good blokes, I think that should be taken into consideration.

And 100 Liverpool street is right next to the tube for one of the easiest commutes ever!

"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
 
Best Response
Oreos:
iownworld:
IMO UBS suffered a huge rep damage in the states but in Europe/Asia they were still pretty solid whilest Moelis does not have enough dealflows outside US. However Moelis has hired lots of senior bankers and I assume the exposure one has there is much better comparing to UBS. And that's why I am still undecided at the moment...

For a less businessy view on things....

From the people I've met from UBS they have a great culture, all friendly good blokes, I think that should be taken into consideration.

And 100 Liverpool street is right next to the tube for one of the easiest commutes ever!

St Paul's tube station is less than a two minute walk from Moelis

 

Guys,

Before making my decision next week, I would like to hear more suggestions from you, especially on the following:

  1. Team preference in UBS London. Please provide any insights on M&A, FSLF, MT in terms of Culture/Dealflow/Time. Also how probable will one be give his first choice? Heard that M&A is only doing those process work (i.e. dataroom) but not too much valuation for the junior level. Is it true?

  2. Dealflow/Culture/Hour/Bonus at Moelis London. Obviously the hours are extremely long at Moelis London and they have most of the deals on restructuring/FIG at the moment. However what do you think about the culture? How bad are the hours? What is the bonus there for juniors? And given Moelis has been expanding extremely fast, would you see a strong upside in one year or so?

  3. Insight re. the Corporate Finance Practise in Mckinsey London in terms of Culture/Travel/Pay/Junior responsibility/Deal types. What are the common exits? Possible to go to PE esp. Megafund?

Many thanks

 

Ex Lehman Fund... Trilantic Capital?

The PE Fund sounds great - but not worth not being able to get FT jobs afterwards. Whatever you choose to do, get back to these guys first - explain the situation, and try to stay in touch with them so this opportunity is available to you after your 2yr stint.

On your 3rd question about McK's CF practice. I've heard good things about them - but you may want to check out 10xleverage's popular Q&A post. I believe he mentioned them regarding PE...

 

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