Prudential Capital
What's Prudential Capital's rep? I understand they do mostly debt and some equity, so it seems like a legit buy-side opportunity. I have an offer with one of their regional offices and I am trying to get a handle on them. Compensation seems good for the hours.
I think they are more of a mezz type place - that said I strongly considered them since a family friend is an MD there. I think it's a great opportunity if banking isn't an option, and it's probably much better than doing ops or PWM.
I've heard some mixed things about them. On one hand (from a Pru employee), I've heard that it's an awesome opportunity for pre-MBA's if PE isn't an option cause you'll get to work all along the capital structure with their various products (sr, mezz, etc.). But then I've heard from people who used to work there and have said that it's a lot of cold calling and sourcing deals, even for their pre-MBA associates.
That being said, I am very interested in hearing what other people have to say or have heard because I am still very interested in interviewing there. Does anyone else have any info?
So what is the difference between Prudential and a commercial bank? Seems like they're just placing more junior (mezz) debt in companies.
I heard the same thing about calling to source deals and that really turned me off. Any opinions on the name? Would it lead to a good business school or other opportunities?
I'm torn between them and other offers because the pay is quite good for the hours. People seemed good too.
I think Prudential deals mainly with private placements and equity investments that are not always associated with sponsor transactions. Commercial banks (lev fin or sponsor groups) generally lend money to sponsor-backed LBOs and don't usually do private placements in companies.
Can anyone else speak to the direct calling effort that is expected of associates? Seems to me it would lead to a top tier school and maybe into PE post-MBA given the experience you'll get. Any other opinions?
Would you mind sharing anything else you've learned through interviews (i.e. culture, comp, etc)
ny office is filled with dbags who are primarily dedicated to one school or so i've heard.
u do source but thats for the associates. analysts don't or so i've heard.
Other offices are focused on corporate workouts and portfolio management more so than actual sourcing or so i've heard. .
they pay u a salary which is competitive(55K may have gone up to 60-65K), bonus is nothing spectacular, or so I've heard.
at the end of the day, if u have this, its between working in corp finance or at PCG, it just depends on what ur more interested in doing (supply chain/inventory management, budgeting, financial planning & analysis vs. analyzing capital structures, writing memos, calculating ratios)
i assume exit ops to hedge funds would be easier from PCG than from an FLDP.
but if its ur only offer, than the decision seem pretty easy to make.
The first year analyst comp is very close to 100k (+/- for discretionary bonus). The structure is 55k salary, a very good signing bonus (>10k), and a guaranteed performance bonus. From what they told me, performance bonus doesn't vary much year to year, unlike banks. So basically you get a flat 5-20k yearly bonus increase depending upon your rating. Hours are supposedly 9am-6pm.
Cornelius - any ideas on where the analysts end up? I can't figure out if their reputation is any good. That has me concerned especially since it's a regional office.
Can someone please elaborate on the type of cold calling involved? thanks in advance
they cold call potential clients. for example, they'll run a screen for companies within a certain industry, market cap, certain ratios, negative cash flow, etc. and after reading their K or Q, they'll see if the company is fit for a financing.
Somewhat similar if u were at PIPE shop, or a summit/TA.
Analysts don't. Associates and above do. Analysts work on pitches, memos, portfolio management.
If u work in one of their portfolio management/corporate workout offices, u will not be pitching.
cornelius...sorry bro but I'm still a little confused. Are they like a PE shop that cold calls companies to see their interest in a divestiture or acquisition? Again, thanks for the input.
They provide companies with capital mostly through private placements, mez financing and senior debt. you shouldn't worry about cold calling much, whatever the office. The fact is that they have money to lend and credit markets aren't too rosy right now - so for the most part they have companies come to them for business these days. I interviewed with them but accepted a premier boutique. Otherwise, it was my second choice. If you don't care about making as much as possible out of undergrad, they are a very close second and you get to go home while it's still light outside.
How competitive is it to get an offer here? Assuming less so than an IB
The office I interviewed at was only talking to candidates from other regional schools, so the competition wasn't as bad. I'd say not as competitive as IB, but it's definitely not easy. I ended up turning them down, but they seemed to have other candidates chomping at the bit to sign with them. I have an overall favorable impression of them...
Yeah I wasn't trying to imply that it is easy, contrary it looks like an interesting place to start and I have looked into it further. Thing is I attend a target however they dont come to my school to recruit for some reason. Gonna have to look into this further
What was the interview process like? Lots of technical? Fit or a balance of both?
Thanks
Standards interviews, walk me through your resume etc. They seemed to be more interested in fit then anything.
when i interviewed with them, they were pretty technical..
valuation, financial statements, and hypotheticals.
what you would look at if u were going to invest in a company, etc.
Important to note that each office is probably significantly different. Each office is close to independent.
what office did you interview with Cornelius?
M&B, what did you end up choosing over them?
I have two offers on the table from other firms, should be deciding this week sometime.
Prudential Capital Group Compensation (Originally Posted: 09/28/2010)
Anybody know recent compensation numbers?
thanks,
Bump
bumpity bump
1st yr undergraduate with no experience (same across offices)
55k base 15k sign on 20k bonus
2nd yr (supposedly) 60k base 35k bonus +performance bonus
What are the acutal numbers?
I heard it was 70k entry level, from a friend of mine. He may be BSing, I guess.
Thanks guys!!
Thanks for the info Shingge. You sir, deserve a silver banana.
no problem, basically you start out all-in at 90k and you get bumps every year, then a promotion 3rd to sr analyst. most peeps are out after 3/4 years. associates positions are competitive and mostly filled.
Prudential Capital Group SA (Originally Posted: 02/18/2015)
"Prudential Capital Group provides corporate finance to middle-market companies including mezzanine finance and fixed-rate private placements."
Does anyone have any insight on the analyst program? -Exit opps -Skills gained -Deal expereince
Is it possible to exit to FT IBD (DCM/Lev Fin) after an SA stint? Im assuming it would translate better to those groups than a coverage group
How is the program generally regarded in the finance community? First year total comp is around 95k. I am considering it as my junior year SA and as you all know, would most likely be my first FT job for 2-3 years. Feel free to PM me as well SB's all around
bump
its their private debt group. some people will go to credit funds and some make it to pe. other stay in house and go to public debt side or different groups within Pru
Exiting into Prudential Capital Group.. Thoughts? (Originally Posted: 10/11/2015)
Currently a 2nd year IBD analyst at a boutique. I am looking to stay in finance without killing myself (60-70 hours max). I was told that a shop like Prudential Capital Group offers below street but decent pay w/ much better hours than IBD.
Anyone have any insight into the shop? Do they even hire ex-IB analysts? I know they generally hire out of undergrad for a 3-4 year program. Any insight is appreciated. Thanks!
Bump
I have some insight I'm willing to share. The hours are definitely a lot more relaxed, right in that 60-70 range you're looking for if not less during slow seasons like the summer. Overall, the culture at Pru is known for being one of the best in the finance world. Offices usually run on 3 analysts, and you'll be the lead on most of the deals you get staffed on. The offices are focused on investment grade private placements, but some offices do below investment grade and others pull in quite a few mezz deals that require LBO modeling. There's also a dedicated mezz team in Chicago and a distressed debt team (CPW) in Newark. Other more specific groups like Infrastructure (Newark), Oil and Gas (Dallas), Power, etc. exist as well.
Across all groups the work is fairly similar: Screening new investment opportunities that come through (Pru has its own origination network) by looking at different deal structures, researching credit comps and moodys reports, building projection models, and ultimately writing credit memos to get the deal underwritten. The portfolio management side involves staying on top of new financial data and writing brief analysis to update progress in terms of covenant compliance and whether or not you think the credit rating is appropriate.
I think they would definitely consider an ex-IB analyst. Most juniors are straight out of undergrad but I've seen a variety of laterals from corporate banking, Big Four audit/consulting, etc. Comp is around $110k all-in for first years, but could be more for the distressed/mezz teams.
Feel free to pm if you have any more specific q's
Prudential Capital Group - Comparable to IBD? (Originally Posted: 11/04/2007)
Hey Guys,
What do you think of Prudential Capital Group? Is the experience comparable to IBD?
Thanks
I had IB cap markets experience over the summer and for the hell of it interviewed with Pru Cap for FT and the dude said it was nothing like it. I turned down the second round interview because it seemed like all they were doing was pretty basic commercial lending
what office are you interested in? i have some experience with the firm
Prudential Capital Group - Energy Finance (Power) (Originally Posted: 04/30/2013)
I know there are many threads regarding PCG, but I am more interested in their energy finance group. Does anyone know about this group?
What would you like to know?
I have a phone interview for their investment analyst position. I would like to know if I am going to do a lot of modeling or writing research reports and its exit opps. I am interested in energy IBD.
No research reports. A lot of writing though. It is the private investment arm of Prudential the insurance company. You will have to write memos about each deal your group is working on closing and memos about the yearly progress of current investments. it's private placement debt (so in the power industry that can be utility companies, power projects (such as solar, wind, geothermal) and co-ops.
They invest anywhere from senior term debt and BIG debt to mezzanine and private equity power investments. Investment grade deals can be anywhere from say ~$30mm to $200mm, with the mezz and equity investments up to $50mm.
There is quite a bit of modeling. Exit opps are pretty widespread (bschool, pe funds, credit shops, mezz funds, other buyside firms). It's a completely different job than IBD, but typically ex-bankers come over compared to people leaving to go to banking.
Bump.
Would like to know if anyone has any information on superday interviews with this group.
Prudential Capital Group or Corporate Banking (Not IBD) (Originally Posted: 10/29/2010)
Which would have better exit ops? Standard corporate/commercial banking or Prudential Capital Group?
what bank is the corp/commercial and is it corporate, mid corp, or commercial.
PCG is good but if you have an offer from like JPM Mid Corporate, I would take that 100%. hours are easy, 830/9-6/7pm
Wells Corporate? Does that change things?
Bump
I know people who have gone through the Prudential program. They are big on you getting your CFA so thats a big PLUS. I know a few people who were in different industry groups at pru and now are working in PE.
Whats the compensation? What about Prudential Mortgage Group?
Anyone know more about Prudential Capital Group's investment analyst position?
I did Corporate Banking at Raymond James. I liked it. Pretty interesting if you can get a good group. Get stuck with something like telecomm and exit ops shrink compared to Real Estate or Healthcare. There was a guy in Real Estate for 2 years and got an offer in Investment Banking with the firm with their Real Group while one guy went from Healthcare to IB at JP in NY after some time. But one guy tried to do the same after Telecomm for 2 years and couldn't get anything. Don't know if he sucked or if it was Telecom holding him back but that's just what happened.
bump
deleted, just noticed this was just an old post being bumped
Hey, if you have good info to share, please do.
deleted
Prudential Capital Group for full-time? (Originally Posted: 10/28/2015)
Anyone know anything about them? It seems like they do mostly private placement investing. I have a final round interview with them later this week. What do you guys think about this with regards to full time?
I had an offer from them when I graduated undergrad but decided to go with a long-only shop. I think your assessment is generally correct. They generally do private placements, both debt and equity, for middle market companies. At least when I interviewed with them, the offices were split into industry groups (e.g. Dallas would do oil and gas, SF did real estate I think, etc.)
I had a favorable impression of them but went with the other offer for various reasons. I wasn't sure what the career path was there which was one of the reasons I went elsewhere. At the time, it was a 2 year gig and they were pretty vague about what happened after that. Lifestyle seemed good and the entry level comp was competitive though. The culture may vary a lot by office.
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