Return offer rate expectation for Houston offices - EVR/PJT/LAZ
Can anyone give some insight into whether the above-listed shops will be cutting return offer rates for this year’s summer analyst class. Traditionally they have been at 95%+ return offer rates, but will this crash in the oil market affect that? Will each office transition over to Rx and thus need the headcount, or will they have have no choice but to cut the class sizes?
Unlikely that any of those particular shops will be downsizing as they are probably considered the top Rx names. EVR and LAZ I know are turning down business and basically picking their mandates with all the Rx rn. Most companies were screwed at $50 oil, now they are all zombies so these names should make a killing with restructuring over the next few years
With everything going on, do you think Moelis and Lazard are going to be the biggest risers in deal flow moving forward?
You go to EVR or LAZ?
Yes
Pretty sure Moelis extended FT offers to all incoming SAs... Not sure about the other two.
Thoughts on Houston top-BB returns?
Would also like some input regarding Houston BBs
I would expect any BB's with exposure to upstream to be taking no one or maybe 1/2 people. As per the previous comment on Jefferies, you can see the banks like GS/JPM in Houston most likely won't be extending many or any offers while the boutiques (PJT/LAZ/HL/EV) will be picking up slack to clean house.
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