First time poster, but thought you all might enjoy this.
A friend of mine is a first year analyst with Moelis NY. In addition to getting crushed himself, it appears little has changed in the LA office since 2008.
The analysts still place phenomenally. The second year class is going to Silver Lake (2), Carlisle, H.I.G., Apax, Centerbridge, Oaktree, and Onex.
It is still a sweatshop. Almost a quarter of the now second year class quit after one year. More interestingly, of the 10 summers, 6 received returns and none are coming back. That is a rare feat. (Apparently, there are a few VP's in that office who literally stay up until 4:00am alongside their analysts.)
Does the lifestyle justify the exit opps for you? Personally, there is no way I submit to that torture...