IBD Ranking NY vs. London
Hey guys!
I am currently in the process for IBD SA 2019 positions in London and would appreciate any insights into the prestige of the different BB tiers in London vs EBs. Many people in this forum talk about GS/MS/EVR/CVP/PJT etc. being better than all else, and I am just wondering how much of this is driven by the US market. From talking to people in the industry, it appears to me that the American BBs place significantly better than any other firms apart from maybe Lazard and especially PJT which just sent two people to KKR this year.
I am expecting offers from Centerview, Evercore and BAML/Citi after very strong Assessment Center feedback. In the process for MS and GS (both 2nd round).
How would your answer diverge if I was mainly interested in B-School placement in the US? In general, how would long-term plans of going to the US change your rankings? Is worse deal flow for better reputation in the US worth it?
Thanks!
Hey C-K.K., I think you deserve a response...heck, everyone does. We're listening, sorry about the delay ...my best guess at places on WSO that could help:
Who will rescue this thread? daniel_manzano Seanminnihan WallStreetWateringhole
If those topics were completely useless, don't blame me, blame my programmers...
Maybe to get the conversation going: (for London exits)
GS
1.1. MS, JPM
1.2. PJT (simply because of senior support)
Lazard, BAML, Rothschild, (Citi)
2.1. (Citi), Evercore, PWP
2.2. Moelis, CS
DB, Barcap, UBS
3.1. Greenhill, Jefferies, Centerview (very prestigious but dealflow is not ideal and you get crucified for trying to exit; have to pay back the signing bonus if you leave before the 3 years)
This is for Analyst FT. For SA, American BBs have the upper hand.
Spot on in my opinion.
Tried to figure where to place BAML/Citi recently on that list and figured that CS if in the LevFin/FSG group has better exits than Citi/BAML imo.
Tell me about the crucifixion please
List is quite good but you definitely got a few points wrong:
CS>Citi
-BAML should be one spot lower, especially given recent developments
Moelis should be bumped up to the Lazard level and so should Evercore
Barclays and DB definitely above UBS
Rothschild does mainly MM, it is not at the levels of Evercore, Lazard, and Moelis. Especially for exit opps! It is a great place if you want to be a career banker though
The list is good for PE but not really accurate for hedge funds where top distress shops like HH, Moelis, Lazard, PJT are only behind GS/MS/JPM
MS>JPM
Centerview should still be above despite what you said (which is true)
My list that will follow is not only based on exits but also based on what a few of my mates did recently:
turned down Citi, Lazard, JP Morgan for Moelis
turned down DB and Citi for Centerview
turned down Evercore for Moelis
turned down Rothschild for Evercore
turned down JP Morgan and Morgan Stanley for PJT
turned down BAML for Credit Suisse.
As smart and informed people, I assume that they did not make such illogical decisions and I know for a fact that their judgement was not based on the team and that they were telling the truth about the offers (close friends that are self confident)
The list in my opinion should be:
1) GS, MS 2) PJT, JPM (PJT>JPM if interested in restructuring) 3) Lazard, Moelis, Evercore (all three also top for hedge funds especially if in restructuring at LAZ or Moelis. Plus all three have the great advantage of having a generalist pool which gets you great exposure to restructuring and M&A ans allows you to work on a great variety of deals, plus relatively easy mobility to the US if you want to transfer. Plus average first year bonus of 90% from what I have been told from friends)
4) PWP, BAML, Rothschild, Credit Suisse 5) Citi, Greenhill, Centerview 6) DB, Barclays
7)UBS, Jeffefries, HSBC, RBC 8) BNP, Nomura, Macquarie 9) MUFG, Mizuho
This list is for exit opps, in case you want to be a banker for life boutiques should be much higher because of the higher bonus and cash compensation. You do NOT want to have huge deferred compensation tied to the performance of the stock as most Investment banks have sideline stock prices and even huge declines as soon as a crisis hits. You want to be putting your money to work in a smart way such as real estate and possibly other investments rather than being massively overexposed to one super-cyclical investment. This is not my case, but if I wanted to be a banker for life I would definitely choose Moelis and Evercore over MS and JPM, possibly even GS depending on the group. The reasons are:
-Faster promotion for super stars
-Less bureocracy and compliance
-Easier mobility to other offices
-Much greater exposure to senior managers and clients
-Higher compensation
-Cash compensation rather than stock options
If you disagree with my ranking or any of my points feel free to chip in!
Evercore for moelis? Some people love to work
Wdym by senior support? Do seniors encourage analysts to exit?
For what its worth, the Analyst and Assoc from PJT are at KKR Private Credit, not PE or Special Sits.
The 2 KKR exits this year from PJT include 1 to PE and 1 to Private Credit. Not sure where you got your info from.
Can confirm I know the PE girl.
Hi, how did you prepare for ACs?
Where do Analysts from top RX groups at PWP, HL and Lazard end up in London? Noticed that exits are really good in the US but no idea how that translates to London.
Where do Analysts from top RX groups at PWP, HL and Lazard end up in London? Noticed that exits are really good in the US but no idea how that translates to London.
Good q. Following
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