PWP vs. Guggenheim IBD

Have options at these two firms and am having a very hard time deciding. Could anyone provide insight on exit opps/pay/culture?

I get the impression Guggenheim has more upside, but PWP is safer...It seems like Guggenheim has been rising fast, with their most recent class getting great exits...but still less established than PWP...would love others' opinions!

 
Best Response

Not sure about exit opps but honestly talking to friends at PWP (who are current 1st/2nd analyst) they all seem to enjoy it. Seems that the MDs really care about their analysts and since its more established the culture is more stable. Pay seems to be above street but not the highest paying.

On the other hand Guggenheim since it is rapidly growing could be a big hit or miss culture wise. I've heard some groups are bad (industrials culture isn't good) while others could be better. And since they're rapidly expanding they overhired the year before (like 50 SA) so the distribution of work for SA was pretty uneven this past summer.

All in all I'd pick PWP, more established shops (deal flow still solid) and the culture overall just seems better. Guggenheim has been rising but I think PWP will still hold its own pretty well against them for a long time.

 

I would take PWP as well. Two points:

  1. This is anecdotal, so may not apply generally, but I had a good friend who worked at Guggenheim this past summer (where they massively overhired) and as a result spent many days not having anything to work on because there was not enough work to go around. PWP has one of the smallest intern classes (~15), so I imagine your work experience will be more involved and your responsibilities will be greater.
  2. PWP had pretty solid exits this year (across 1st and 2nd year analysts). I believe they have analysts who accepted offers with Carlyle, General Atlantic, Lindsay Goldberg, and L Catterton among others.
 

I would second the PWP recommendation as well. It's a top shop with very high quality senior bankers such as Woody Young and obviously Perella and Weinberg themselves. I heard that they will really vouch for you if you decide you want to do on cycle recruiting-exits are very good.

 

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