Rothschild & Co USA Info

Any updated info on Rothschild North America ONLY. Comp, exit opps, rankings, what firms they are similar to etc? I've seen different opinions on the firm some say boutique, MM, EB, but lot of it has been few years ago and I know they are on a heavy upwards trajectory for M&A lately. Thank you!

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  • Intern in IB-M&A
May 27, 2021 - 2:29pm

Personally wouldn't consider them an EB in the states and would take GHL/Gugg/Jeff above them. Solid culture with a competitive RX franchise (think PWP/CVP tier). Agreed exits won't be amazing and you'll have to work to get into UMM

  • Intern in IB - Cov
May 27, 2021 - 2:40pm

As someone who interviewed at Rothschild and other EBs, they definitely have an easier process than Moelis, Lazard, and Evercore
 

Technicals were straight from the guides. There's no traditional superday either, just a day where you do 2 one on one interviews. Final round was all about fit. 
 

I know in London they have a prestige discount since they're a top EB there, but I don't think they have one in North America; however, I don't think they're pay is anything special too. They provided a $35 wfh meal stipend, but I don't think they've made any announced about pay bumps like other places have done. I think Guggenheim is a good comparable, and they raised to $100k so I hope Rothschild follows to at least $95k. 

  • Analyst 1 in AM - Equities
May 29, 2021 - 6:25pm

Can confirm. In my experience, also easier process than Guggenheim, PWP, PJT. 

Had a technical-focused first round interview on campus. Answers directly from guides. The final round "super-day" (which is not a traditional superday, as stated) I had is exactly as described as above. Two one-on-one interviews and a chat with the head of HR. All about fit. 

Pay is "street," lower than other EBs, but on par with BBs. Have not heard from anyone working there that there has been a pay bump. 

Nice people overall, and you'll work a bit less hard than some of the other EBs if you do M&A. Never spent a day at the office later than midnight. Nice people and collegial culture. Left for a Long Only shop in a LCOL city. If I myself had the choice, I would pick them again over Jeff and maybe GHL. That said, they definitely fall behind some of the other well known boutiques like Moelis, Lazard, or PJT, except in their RX practice (which is fairly comparable to PWP and CVP as stated above).

  • Analyst 1 in IB-M&A
May 29, 2021 - 7:03pm

Lol at calling Rothschild an EB in US. It's not and don't think it will be anytime soon. Also, would much rather take Jefferies over Rothschild in US for a variety of reasons. 

  • Intern in IB - Cov
May 27, 2021 - 9:11pm

Regardless if they are or aren't an EB in the US now, what does their trajectory point to in 5 to 10 years? 

  • Intern in IB - Cov
May 29, 2021 - 8:31pm

At point do you do group placement? Other than RX, what are their strongest groups? Is it hard to get your first choice if it's not RX?

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  • Associate 1 in IB - Cov
May 30, 2021 - 7:16pm

I work at BofA/Citi/CS, so I have no skin in this game, but I have a friend at Rothschild who has spoken with me about them in the past. They're a very different bank for exits and career banking. For exits...they're not really the same as Evr/Laz/Moe. Rothschild has a culture focused on self responsibility, meaning they don't really care too much about what you do as long as you're getting your work done. This means they don't mind you recruiting if it's not being a serious disruption. It also has allowed for a degree of WFH before the pandemic as well. I think RX has the best exits, but I'm not really sure. 

In terms of career banking, Rothschild is a great place to be. They're rapidly expanding in North America and have a very strong culture of retaining talent across all levels. One thing to note about their deals is that they focus more on number of deals vs size (though almost half their deals in NA are still $1Bn+). Despite this, they still do place very highly in overall M&A fees which I assume translates into big bonuses for their seniors, but I don't know for sure. I also don't know if they allow equity partnership (the company is "owned" by the Rothschild family, but still trades on Euronext). Someone above said they have a "prestige discount" in Europe but not North America, and that is true. 

Overall, I went into banking not knowing if I wanted to do A2A and be a career banker or if I wanted to exit to PE. I think going to a place like BofA/Citi/CS was the right decision for me at the time because it provided me with the most career options; however, now that I'm settling into my roll as an associate, I have been strongly considering a lateral move out of the BB, (partially because fuck vesting bonuses). If I had the opportunity to move to Rothschild, I would strongly consider it. 

Finally, nobody outside of this forum uses the term "elite boutique." You'd look odd to say it in real life. The preferred term everywhere is "independent advisory" or even just "boutique." 

  • Analyst 1 in IB-M&A
May 31, 2021 - 12:43pm

I feel like those that used to say RBC is a BB  jumped ship to Rothschild because saying Rothschild is an EB (in US) is the new meme of wso

  • Analyst 1 in IB-M&A
May 31, 2021 - 12:52pm

RBC not a BB. Roth = EB. Really simple. 

Lol Roth is not an EB in US. It doesn't pay like an EB, it doesn't perform (in the league tables) like an EB. If you call Roth an EB you'll have to call other banks like Jeff an EB too (by the way, Jef pays above street - closer to EB level at associate and up for top performers, and performs like an EB - top 10 league table, avg deal size of close to a billion dollars). The fact is that Roth is simply not an EB in US and it won't be. It's top group, Rx, had the rainmaker leave for another firm recently. 

  • Intern in IB - Cov
May 31, 2021 - 5:16pm

Can people actually ever discuss what it's like to work somewhere instead of getting hung up on "is x an EB/BB"

  • Intern in IB - Cov
Jun 4, 2021 - 1:19pm

A2A is 3 years almost. Everyone on LinkedIn I found started An1 in July and became associate 2 years 10 months later in April. 

  • Intern in IB - Cov
Nov 28, 2021 - 2:36am

UVA, Michigan, and Texas are targets for R&Co as well. I would second that they are relatively  nontarget friendly too. I recruited there and I thought the culture seemed great. I was bummed not to get the offer because the bankers I spoke to were all chill.

  • Intern in IB - Cov
Jul 10, 2021 - 9:55pm

How good of a CEO is Alexandre de Rothschild? Just curious since the CEO is always just a family member 

  • Intern in IB - Cov
Jul 22, 2021 - 5:16pm

North America is pretty chill compared to London for sure (Idk what the Paris office is like). 

  • Intern in IB - Cov
Jul 22, 2021 - 5:17pm

Which offices in North America have a consumer team, and if so, what verticals do they serve? I know New York's consumer team is pretty general while Chicago's has a focus on something but idk what. Does Los Angeles have a consumer team?

  • Intern in IB - Gen
Nov 28, 2021 - 8:08pm

I believe LA has a tech and consumer. However, I would imagine it's a little smaller than the others.

  • Intern in IB - Cov
Aug 28, 2021 - 10:01pm

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  • Intern in IB - Cov
Nov 25, 2021 - 4:32pm

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  • Intern in IB-M&A
Nov 28, 2021 - 7:53pm

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