Harvey & Company - Newport Beach

Anyone know anything about these guys?

I think this is the absolute lowest comp package I have EVER seen for an Investment Banking Analyst:

Analyst Compensation: $40,000 base salary, guaranteed year-end bonus of at least $2,000 and active deal bonuses. In 2006, total analyst compensation ranged from $42,000-65,000. Full benefits including a 401(k) plan and paid time off are available after standard waiting period.

 
Best Response

Harvey & Company doesn't do investment banking. They are a merchant bank that researches companies that may be interested in pursuing investment banking transactions. They are just a middle man. Analysts there don't really do financial analysis really as far as I know from the people I talked to there, they just research and call companies. They then input all this information into a database after jotting down details for several companies per day.

If you look at their website and recent transactions they write for every deal, "In January 2007, Harvey & Company initiated..."

AKA, they found out about some company and put them on the phone with investment bankers at other firms. I know several people who interned there and I was going to myself after freshman year of college until I realized that I wouldn't be learning what some doing a financial analysis/valuation type of internship would.

 

Agree with masterg, I've interviewed a few canidates from Harvey and Co. and they are not an M&A boutique as they claim to be. As far as I could gather they are hired by other banks, PE shops to do research and help identify potential buyers and sellers.

I recommend avoiding that place as all of the candidates I met seemed desperate to leave and didn't make it past the first round here (middle market firm).

 

the company is a total joke. your exit opps might include verizon customer service or barista. the company used to have a decent name (literally just the sound of it), but more and more people are coming to realize that its a total sweat shop. they pay analysts 45k/yr to basically build out a database. no deal flow, no modeling, total shit work...

 

At the sake of revealing my identity on an anonymous message board, I interned at Harvey a couple of summers ago…and was probably interviewed by bankerla (out of the 4 mms I interviewed at, I didn’t make it past the 1st rounds of 1). Masterg’s post is basically accurate. The only thing I would add is that the people there are all really easy to get along with and they foster a great working environment. The partners organized a couple of events during the summer that were genuinely fun. The work is mostly qualitative in nature…don’t expect to build any financial models or spread any comps. However, the partners did hold a couple of meetings with the interns in which they explained well the intricacies of private equity deals. In fact, from this internship my interest in PE was piqued and it ended up becoming the topic of my thesis.

All in all, it was a great internship that taught me a lot about the basics of real-world finance in general and PE in particular. Prior to the internship, I really didn’t have a focus and applied to a couple of finance positions on a whim (I was exploring many different options and had a gov. internship lined up). If you have a nascent interest in finance, I would recommend this internship—I think it might be more interesting than private wealth management as you get to see how deals are initiated. You will also get to work for some big name funds doing work that (minus Harvey & Co or a prior relationship) they would have given to their own intern(s)/associates (i.e. sourcing deals).

As an analyst or intern you will work the standard 9-5 or 8-6 (depending on work load). True, the pay is about half as much as investment banking, but that is commensurate with hours worked.

So, if you are thinking about finance, but aren’t quite sure about what you want to do, Harvey is a great place to explore your interests.

As an addendum, I ended up with multiple offers and will be starting as an investment banking analyst at a strong mm firm with some really great people. Despite bankerla’s experience, an internship at Harvey is by no means the death knell for your investment banking ambitions.

Feel free to PM me if you have any questions about the firm.

P.S. Bankerla, assuming you did interview me, sorry for giving you the wrong impression about my internship at Harvey. It was a great opportunity and I enjoyed the time I spent working there.

P.P.S. It’s in Newport Beach—you can’t beat that.

 

Hi kilgoretrout, How are you. I'm about to have an interview with Harvey, so I really hope I can know more about Harvey. I was wondering if you could talk about what exactly they do since they are not a typical investment bank. Thank you so much!!

 

Et non est voluptas voluptas quam perferendis. Enim pariatur aliquam est expedita beatae reprehenderit explicabo.

Rerum earum ducimus et quidem. In sed et sit beatae vero nihil.

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

  • Lazard Freres 01 99.4%
  • 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
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”