PWP not an EB anymore?

It seems a lot of recent threads are not considering PWP an EB. Is that true? They don't seem to have many big M&A deals In this period nor have they been on the big RX deals. Also, in terms of exits seem to place in MM (similar to firms like RBC/DB/UBS). Thoughts?

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Comments (27)

  • Analyst 2 in IB-M&A
May 15, 2020 - 11:07am

I have met multiple PWP analysts in MF during my sell-side deals so idk where people are getting this notion. Exits might not be as good as say PJT RX but I think at that level its more the individual than the firm.

The fact that you're creating this post and your takeaway is this after reading forums makes me question your comprehension/analysis skills. PWP is absolutely an EB (and no I work at a different EB)

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  • Intern in IB-M&A
May 15, 2020 - 11:14am

This is asinine. No big RX deals? They were literally tapped by the treasury department as part of the Coronavirus bailout package to help with airline restructuring.

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  • Analyst 2 in IB-M&A
May 15, 2020 - 11:16am

Are you an idiot? How can you compare PWP with RBC / DB / UBS...
Prospect - most people at ANY bank exit to MM... Of course, you can't tell from reading these forums

  • Intern in IB - Ind
May 15, 2020 - 11:17am

guggenheim/pwp are stronger than ghl in general but weaker in exits

people who say pwp is on moelis/lazard level are crazy though

  • Analyst 2 in IB-M&A
May 15, 2020 - 11:36am

Moelis and Lazard aren't as untouchable as you think. They exit extremely well (especially Moelis) because they attract the most intense finance hardos who willingly choose the sweatiest bank. However, the choice between EBs is not as clear-cut as you think or how WSO portrays it (no set rule on choosing which EB). People do care about culture, although maybe not on this site
And now people on WSO are saying Moelis and Lazard aren't sweatshops. Who tf told you that?

  • Incoming Analyst in IB-M&A
May 15, 2020 - 1:41pm

Well said. Those firms just have different business models. Take Moelis and PWP for example. Yes, Moelis will be higher on the league tables because of volume, but PWP on average will work on larger deals. Stupid to say one is better than the other based on business models. Can't say I'm knowledgeable enough on exits to comment on that.

  • Analyst 2 in IB-M&A
May 15, 2020 - 12:26pm

Dude chill. You must not actually be an analyst or you wouldn't care so much. I never understand why "analysts" engage in petty arguments with interns instead of posting on important threads. Ranking bank threads have 10x the comments than "Internship Best Practices," etc...

  • Analyst 2 in IB - Restr
May 15, 2020 - 11:22am

Ridiculous posts like these only come from ppl who were dinged during their PWP interviews. Suppose this is natural when you interview 2000+ kids every cycle but only give out 25-30 offers

  • Intern in IB - Ind
May 15, 2020 - 12:37pm

why are you posting as a second year analyst when post history indicates you're a sophomore that just signed a PWP offer?

if you were actually happy with the offer you wouldn't be posting on this site so much - you'll never see an EVR/GS intern defending their bank like you do.

  • Associate 1 in PE - LBOs
May 15, 2020 - 6:23pm

"Based on some threads"

A simple LinkedIn search would show you the MF/UMM firms that PWP analysts have exited to. FWIW, there were PWP analysts at every MF interview I attended.

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