Recently received an offer from two of the above but am in the process at the other two for lateral analyst. Currently at a Citi/ BaMl bb. Does anyone have insight to lifestyle and hours at these places. I understand that the firms all have enough of a great reputation to exit to pehf.
Wanted to make a decision based on lifestyle given the similarity of the firms
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If your plan is two years to PE why switch, just start interviewing now, you won’t get bad looks from a BB group.
Group currently doesn't have too many mf placements and I'm also in Power & Utilities. Most of the above are non niche groups and some are generalist
Just wanted to see if culture in one of these is better than the group I’m in to see if that jump is worth
yo can you message me please?
I'll be an entering SA for P&U at a BB and while I'm very interested in that industry, I'd like to understand the drawbacks of being in a P&U group. It sounds like you consider it a disadvantage for PE recruiting?
Congrats on where you are at and what you got and good luck going forward. I have heard fairly similar things about lifestyle at all of those places. It might ebb and flow at each depending on current market dynamics and environment. Hopefully you may be able to get a sense from them during your interview process how busy it is and how busy it may be when you are there. If possible to get a “sell day” from them post-offer where they let you meet with people before deciding whether to accept, that may help give you good data points. Given all of that, it may also depend on which teams you ultimately work for at each place as I have a sense that some teams at each place may be the hardest lifestyle or the best lifestyle even compared to the general lifestyle at each bank. I hope this helps a bit at least. Good luck and best wishes! :)
All those firms are pretty even in terms of lifestyle with Evercore likely the “worst hours” and Perella having the “best culture” but again this is subjective and its group dependent. Go where you fit in the best and you’ll be happy :)
Are you a first (just joined this summer) or second year analyst?
2020 analyst but sat out of on cycle pe
If your end goal is PE, then CVP must be out of the option. I heard a horror story, that an AN2 gave two weeks' notice, and Effron himself fired him at the spot. It doesn’t matter at that point, but CVP wants them to stay, so it won’t be too supportive of recruiting.
Between PJT, EVR, PWP, the biggest difference should be generalist vs. group. If you like the generalist model, then PJT is the place. If not, choosing EVR and PWP is splitting hair, but in recent years, PWP’s per capita exit to PE seems to be better.
EVR is great don’t get me wrong. But for recruiting, their class size is too big imo
Lol PWP>EVR? Bro just because a lot of people at EVR don’t shoot for MF doesn’t mean placement is bad. Yeah, the size of EVR has diluted the quality but don’t pick PWP above EVR
EDIT: PWP intern stop throwing MS
OK Intern.
Dude at literally every place you get told to leave the same day that you put in your 2-week notice. It's not uncommon at all, don't make it sound out of this world.
Kid would deserve it too. Literally everyone going into CVP knows it’s a 3yr program, it’s not a secret and they screen specifically for people who are okay with that. People also know CVP will NOT be supportive of trying to jump after two years, but will be incredibly helpful after three.
Interesting because in another thread they mentioned how partners would push hard to get analysts buy side offers
All of these are amazing options and you should be proud of getting offers at whatever it is you got. That being said, be careful of CVP given how focused the program is there on being a career banker rather than considering other options. Out of the others, it doesn't really matter that much where you go given the opportunities after are pretty similar if you put in the effort. Lifestyle-wise, EVR has traditionally prided itself on lesser facetime etc but obviously when you're on a live deal all that goes out the window. And you want to be on live deals generally speaking. PWP has generally been known to offer amazing mentorship and sponsorship for those who want to exit to buyside/other gigs outside of banking. So I think you're fine either way you go, each firm has it's own strengths and weaknesses but it's hard to go wrong with any of them.
Bump
Lot of misinformation / misunderstanding with respect to Centerview’s program and approach to PE recruiting.
Yes - they emphasize a career track and have traditionally higher rates of A2A promotes, but they *are* supportive of recruiting if you see through the 3 year program, and a large percentage of the analyst class (typically a plurality) ends up going down this route. Placements have been top tier for those choosing to recruit (example: BX, Warburg, KKR, Apollo, Dragoneer, Melvin, GA, TA, etc.) with additional exits to less traditional channels based on preference including start ups, family offices, corporate, etc.
If you are dead set on getting to PE as fast as possible, then it is a consideration against CVP, but if you are willing to see through the analyst program, you’ll get one of the best experiences, top exit opps, all while being paid more than anywhere else
Source: I went through the program. If anyone has questions feel free to ask.
Hey man, will be starting FT soon and wanted to ask: How are the hours honestly? Have heard a mixture of opinions, with people saying they work like 20 hours a week sometimes during the internship but then get destroyed once they hit FT. Definitely worked less than 100 hours during the internship, but still thought it was a good 60-70. How manageable is the work load?
There is honestly a ton of variability in workload (a large part due to the account staffing model). I probably averaged 75-80 hours weekly through my entire time at CVP but also had weeks that were closer to 20 and 120 on both extremes. Staffing is a big priority for the firm (driven by focus on junior development and retention) so they try to moderate the burnout and make sure you get the learning experience / outcomes you want.
Internship staffing is particularly inconsistent across the class but I think CVP tends to lean towards a lighter staffing load during the internship than FT (for better or worse)
Yep, this is spot on.
Could you talk a little bit about your recruiting process and specifically how you managed the traditionally later timeline of CVP? I really want the environment of an EB and would love to participate in CVP's analyst program but not sure how to decide if it is worth not going through the interview process until September rather than recruiting for the other EBs in the spring.
When I recruited, the process was more in line with other banks and as the timeline’s moved up progressively, CVP has stayed constant.
I truly believe CVP is one of the best places to start off your career but could never in good faith advocate / suggest someone to roll the dice and turn down an offer from a great bank just for a chance at the interview process.
Good news for you though (from what I hear), is that the plan is to move up recruiting next year to be much more consistent with everyone else. Would also start networking a bit early, since even if that were to change, CVP has accelerated processes for good candidates in the past
Any insights on why you chose to leave CVP for PE? I'm also starting there full time next year.
First off, congrats! Happy to. I replied to the poster above with some rationale but will paste below for ease of reference too. Open to any questions.
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Ofc and good / fair question. I stand by Centerview being one of the (if not the single) best places in banking, but it is still the sell side and banking is still banking at the end of the day. I came in with a very open mind and after a couple years of experience on the job, I was able to make an informed decision about where I wanted to be in my career. PE represented a chance to get more in the weeds on businesses and to finally have accountability / control / skin in the game that I felt was missing, even at a platform like Centerview's.
That said, imo the ASO position at CVP is probably a better gig than 8 or 9 out of 10 PE roles out there (personal opinion only), so analysts coming out of CVP's program should be very selective in the opportunities they take (and quite frankly, can afford to be selective given the opportunities available to them).
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