Is my Evercore Offer Worth it?

Hi!!!!

First time poster here, all the info from WSO has been realllly helpful for getting me into finance, and I was wondering if I could get some help with a dilemma I've been having :)

Senior Year recruiting has been the worst, but after what seemed like endless networking calls and M&I prep, I was able to secure an Analyst gig at Evercore starting Nov 2021 in a high COL city. I was hoping for direct placement into Lev Fin, but I got a generalist position which I guess is also good.

I'm not as thrilled as I expected I'd be though, because I also got an offer from the Corporate Venture Fund of a large F500 company located in the same high COL city.

The people I spoke to at this firm were so nice! (way nicer than the peeps at EVR lol) and the all-in pay is: 

$130K + $7.5K SB for 45-50 hours/week, 3 weeks vacation and 5 days PTO

I did my SA stint at a Lower MM PE shop, but not a single intern got a return so I decided to go all-in for IB. I got some bullshit offers like Mizuho Strategic Solutions and big 4 consulting, but once I got the corporate VC gig, I was about to sign my offer letter a few days from now before I heard back from Evercore after like 2 and a half months.

They just sent me the offer letter, which includes a $25K SB + $95K Base. I know bonuses will be bucketed, but I'm sure top would probably be $90K. That's like $210K all-in!! But I also have a lot of friends from my target who went to EVR, and they all told me that I should expect 90-100 hour work weeks.

Is Evercore even worth it? I'll be working half the hours in corporate VC and after-tax I'll only be making like $45K less (that's assuming they even give good bonuses next year and I make top bucket which is highly unlikely since I don't wanna live and shower in the office :P). I know EVR is coveted for its exits, but a lot of the people at this F500's corp VC are ex-bankers from EBs and BBs, and they aren't progressing as fast up the ranks as the people there who started at the F500 straight out of undergrad. (This one dude from Guggenheim is still only a lower-level manager whereas this girl who graduated the same year as him, but started straight out of undergrad at the F500, is already a director).

Plus what does the Biden Tax Plan mean for IB? I had no idea the run-offs would both go democratic, but it looks like the dems have the house and the senate now. The top 1% will probably be taxed 62%+, and in that case is it even worth it to kill yourself in your 20s to get to the top 1% as fast as you can just to get taxed the bejezzus out of you. I guess with the way things are in the U.S. now, maybe it makes more sense to enjoy life and delay getting into the 1% until you absolutely need to (get married, start a family, buy a house)

Which offer should I go with? Should I just suck it up, get through my analyst stint, try to get to PE or just exit to corp dev, or should I enjoy my 20s, be okay with making a mid-to-bottom bucket analyst's salary, and just work my way up at the F500 company. My ex-boyfriend was being a bitch and decided to stay home with his parents this semester, so I also don't want to be stuck in a gig where I can't find someone better (not hard though :P)

Thank you!!!!!!!!

 
Most Helpful

Biden won a close election. I would be surprised if he came in and jacked taxes up right away. Trump’s tax cuts are pretty popular from just about any poll you look at.

Sounds like you want to do the F500 gig. If the only reason you can think of is 45k post tax money then don’t do Evercore. That will be a horrible two years and not worth the money. If you are dead set on PE exits then yeah you need to do the analyst stint. I think it’s obvious the Evercore stint will give you more options but it’s obviously going to be a lot more work. The F500 job will more likely than not still be there even if you do 6-12 months at Evercore and hate it.

 

I was thinking long-term (4-5 years) if I stick it out and somehow don't get passed over for VP at EVR or get past associate in PE. Even if I do put in all that work to get to the finish line, will it even be worth it? Yes the tax plan won't be put in place immediately, but chances are it will be put in place in the next 4-5 year (and may even be higher like it is for all the Rothschild MDs in France), and I don't know if it is worth it at the end of the day to sacrifice my life for an industry that is already being targeted by pretty much every legislative body in this country and whose saving grace is a ridiculously high compensation, which will essentially be like getting a minimum wage job on the side of a 9-5 job after the taxes are done with it. The F500 gig will be there after a year at EVR though, so i guess I just have a lot of thinking to do, would love to get some more advice, yours was really helpful thank you!!

 

lmao 1st and 2nd years are probably going to be supporting senior consultants remotely from now on. I heard that since there are so many big 4 offices around the country now clients are only gonna hire consultants from offices in their state so they don't have to pay for the flight or lodging

 

Hahahaha I forgot advisory firms don’t do stuff with debt. Ughh now I feel dumb for asking HR to try and place me in Lev Fin, they must have thought I was soo stupid and thought who’s this dumb bitch and put me as a generalist

 

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