Intel on Centerview Partners
Hi!
Preface:
I apologize if some of the items in the "Asks" below are redundant / can be found elsewhere (I fruitlessly searched for information prior to authoring this).
Context:
I am a junior at a non-target. I was somehow able to receive an 2020 SA offer with Centerview Partners in NYC. CVP is certainly among the uppermost names of my dream firms - it always has been. Now, I am in the discommoding situation of having doubts before signing.
Asks:
1. I understand that CVP is predicated upon hiring people who are, minimally, considering a career in banking. CVP's retention rates (A2A = 90%+) are very high. Does anyone know about exits analysts have / will made / make (I have heard that grad school is very common)? I can find very limited data from scouring LinkedIn. Also, information on whether analysts exit prior to the end of the three years would be very useful. At this point, I simply do not have enough experience to know if I want to be a career banker (advice on how to figure this out would be very helpful too).
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I have been told starting in banking affords one optionality later along the road. Once more, I simply do not have enough experience to know if it is IB, PE, or prop trading that I want to do in the long-run. As I consider buyside roles, I am wondering if there are any blatantly obvious issues with starting in a buyside role (i.e. pigeonholing / easier to go IB-HF than vice versa, etc.). Assuming I want to do PE long-term, is there harm in starting my career there? Would you all say CVP BX / Oaktree / Apollo?
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From meeting and speaking with analysts, I understand that personality types there span the gamut. Does anyone know specifics about the culture there? I was unable to get a solid read.
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Any advice on how to navigate the SA experience successfully / get the max benefit out of it? Are there things I should be preparing now to be successful there?
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Thoughts on the generalist program. I am a fan of the exposure to different industries, but am wondering if, for the future, it is beneficial to have a specialization. I understand that analysts do not develop a specialization in such a nascent stage of their careers, but have also heard that many opportunities post-banking may / may not appreciate the coverage / product group you are in.
I appreciate any help - thank you for reading!
Just off the top of my head for exits this past cycle:
Advent Dragoneer Murdoch Family Office Carlyle TH Lee Viking Global Veritas Warburg Softbank Sageview Goldman Principal Partners Special Sits (London, early exit
Basically the word is that you will absolutely get looks at anywhere you want, but it is largely self-selection because most see MF as banking 2.0 where your work is similar, hours similar, and pay isn't even higher (given CVP's outsized comp). So that accounts for a lot of why they might be seen as having "weaker" exits if your sole focus is MF.
I'll come back to this post in a couple hours and answer the rest of your questions
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If one was to try to exit after the entire three year analyst program, would that significantly harm your chances of buyside recruiting?
No I don’t see why it would at all. With how early recruiting is now, plenty of people are choosing to sit out first year of on cycle recruiting anyways. You’re not going to get in trouble for recruiting during second year with the offer to leave after completing third year. That’s pretty much what the analysts who went to MFs did. Plenty of them also just had success recruiting off cycle as well but I can’t speak to that as much.
Cannot thank you enough for reminding me why CVP is at the top. Could not ask for anything else - just signed.
What's the attitude on laterals from non-IB at CVP? Is it even possible? For example, someone at a large strategic that runs acquisition processes like an investment firm (Roper, Constellation,) but wants to move to a pure advisory role for a long term career.
No idea, I haven't seen anyone do it personally. We have a new associate from Mckinsey, but that's about the only non-banker I can think of making the jump. A few former big law but even they went associate at a BB and then lateraled.
Was chatting with a friend thats going to be going through the recruiting process in the upcoming cycle but I couldn't give a solid answer on it. Any idea what the typical summer return offer rate looks like at CVP?
Will intern there next summer. Very high - maybe 1/2 don't get return offers and in some offices return offers are 100%.
Bumping, aside from there huge salary signing bonus plus salary that can bank someone $230k, what’s the salary progression there?
Bump
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