PWP RX vs. HL RX
Trending Content
| +135 | How to stop feeling like shit for not making it in IB? | 52 | 6h | |
| +101 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 46 | 5h | |
| +66 | Updated LA Banking Scene (2024) | 49 | 7h | |
| +57 | Why Is It Called Investment Banking? | 19 | 17h | |
| +38 | Ranking banks that went under | 19 | 11h | |
| +32 | A strategy for SA applicants late to the game like myself | 15 | 17m | |
| +31 | UBS Actual Buyside Exits 2024 Post-Integration | 9 | 3d | |
| +30 | Burnt Out M&A ASO | 15 | 1s | |
| +29 | Relevance of A-Levels for U.K. London recruiting | 21 | 8h | |
| +26 | Series 79 Help / Tips to Pass The First Attempt | 11 | 1d |
Career Resources
Interested
Houlihan is one of the top RX firms. Culture is apparently the best amongst the RX firms. Comp is high. I think some other firms pay higher. But also HL has better perks for it's employees. Something like a $75 or $100 stipend each day all day for meals, so you can easily get lunch and dinner, and then the standard ones like car service at night. I don't think PWP is at the same level after a bunch of people have left. That being said, I'd rather be in NYC than Minnesota. But since this is an SA position, I'd probably intern with HL in Minnesota, hope they'll let me transfer to NY for FT, while recruiting at other firms (Evercore, PJT) to make sure I'm at a top firm but also in NY.
thanks for the reply
HL FRG bonuses were insane this year - $100k+ for A1.
For the NY group right?
How is internal mobility at HL RX?
Thanks
Bro wtf no way people are actually suggesting HL Minnesota over PWP RX NYC. PWP is a phenomenal name and has a great culture. I know several kids from my school that went there and were able to land great buy side roles. They might not have the best RX franchise but it’s still up there with all the other EB’s. Plus re recruiting will be a lot easier using the PWP brand name rather than HL Minnesota. This is a no brainer decision.
cheers
Bro you are a freshman at a non target based on your previous posts - please either say so when you answer or don't answer at all, not sure he should listen to you given your experience
It's restructuring, not M&A. It's basically an entirely different industry. HL is one of the best restructuring franchises on the street. Their restructuring group has entirely different brand recognition than HL M&A. If this was HL M&A vs. PWP M&A then obviously going to PWP is a no brainer, but it's not. PWP RX just isn't anywhere near being competitive with the big players (HL, PJT, Rothschild, Evercore, Moelis, etc.). So yes, HL RX is the no brainer here if they're looking at going into RX.
Found the PWP intern
Lol he’s a freshman non target. He dreams about PWP
Also exit opportunities are not even comparable. Search on LinkedIn some of PWP RX exits they place pretty well.
lmfao have u seen HL rx exits bro? They're disgustingly stacked too
What’re the Minneapolis exits? That’s the relevant question...
pwp gives generalist offers i believe
interesting - don't think they mentioned that to me: fairly certain it is strictly with the restructuring group but would be cool if you're right
Can’t you see that in the offer letter?
Have a friend who started A1 in the rx group exclusively, idk if they do the generalist model for everyone anymore. Maybe just for the kids who would be placed M&A so that they can staff them on rx when shit hits the fan?
If the HL Minnesota role means you would be working for Jeff Werbalowsky I believe, that seems like a hard offer to turn down. From what I know about the RX world and HL in particular, he seems to be one of the leading RX bankers in the world. PWP NYC seems like a good, safe choice too. Wishing you good luck
This has to be spam or OP in uninformed. The PWP SA offer is Generalist. So the question is PWP Generalist offer v HL RX Minnesota. HL RX Minnesota actually has solid deal flow and great culture - shorts culture and lean teams where analysts get to work with MDs/Partners very closely.
PWP RX may not have the bombshell RX deals but they do pretty well. The M&A franchise is a top tier as most will attest too. Exits from PWP RX have been solid: 2 Carlyle, Oaktree, Brookfield in the recently exited analyst (2nd and 3rd year).
I'd take PWP (Generalist!) over HL RX Minn because of the NYC aspect of it and the ease of PE recruiting from NYC.
Some things to note about HL RX (MSP specifically). Comp numbers above apply to minneapolis office not just ny, so your bang for buck is absolutely insane. Culture is v good, but you will get crushed. Correct on no office dress code and great fringe benefits (higher daily meal stipend, gym reimbursement). Transferring between offices is actively discouraged and won't happen, unless you have a very legitimate reason for needing to move to nyc. Additionally, there is anti buyside recruiting sentiment in that office. Not to say it's impossible by any means, analysts have done it and will continue to place at great shops from that office (including in nyc), however know that you'll have to do it in secret.
TLDR: If you want to be in minnesota/midwest, HL RX is probably as good as you can get in terms of banking (highest pay, good culture, great deal flow), however if you wanna go to buyside and or NYC you will have an easier time doing so from PWP. Best of luck in your decision, just a matter of preferences really, both great opportunities.
Yep I would suggest PWP rx based on location alone. That said HL is significantly better for RX experience but being in Minnesota would be kinda ass, even if I got to work for Jeff.
...
I’m sorry you’re salty for superday rejection
....
Just a side note but both firms (PWP and HL) are volume shops that will take on pretty much anything - recently hired PWP to do a $20mm minority equity raise for one of our portcos.
While this may be the case for M&A, quite a different story for rx. HL rx still is a volume shop for sure particularly for small creditor sides or debtor sides in particular industries they want to dip into and maintain presence in but also gets staffed on a bunch of fat deals. PWP rx is also a quality shop but isn't comparable in terms of volume or even deal size most of the time comparing to some of HL rx's larger mandates. That said NYC >>> Minn.
Alias blanditiis qui ea. Id iure autem ea aspernatur incidunt unde. Natus omnis placeat dolores fugit vero dolorem.
Qui vel autem at fuga eum recusandae aliquam. Est est debitis earum voluptate doloribus. Laboriosam eveniet voluptas aperiam quasi atque incidunt dolore.
Ratione est placeat rerum id omnis voluptas enim tempora. Eum repellat reiciendis molestias nisi vel culpa.
Assumenda sed cupiditate molestiae. Et itaque ut eum debitis explicabo odit et. Aut repellendus voluptatem hic quod. Cum similique dolores est magni excepturi. Qui architecto ipsa nostrum itaque aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Consequatur totam doloremque rerum vel. Eos accusantium voluptatem alias tempora eum debitis. Et fugiat ut rerum a. Deserunt fugiat dolores quae dolor itaque. Quisquam facilis ipsam ipsa aut.
Voluptatem velit maiores architecto dolore error corrupti at. Dolor nemo quia est aut vel error dicta. Illo animi praesentium id ad quasi est.
Maxime quas sed magnam dolor. Labore et omnis quia ratione facere. Voluptas repellendus nihil voluptatem aliquid aperiam est expedita ipsum. Magni non maxime et.