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Barclays has outperformed DB/CS/UBS for a while, and their top groups are legacy Lehman. Go study for your finals chief
Terrible execution BTW. Harvard = JPM (old money, everyone knows them as the OG triple OG's) Yale = MS (they are certain they're better than GS/JPM because they can raise their noses higher into the air when walking) Princeton (by definition (rankings, usnews) are always #1 and come out on top) = Goldman Sachs Wharton= Lazard or Moelis (cutthroat culture)
You think you're a hardo but you're just a 'tardo.
Just to dispel some misinformation, Barclays has not outperformed all the other European banks for a while. Barclays has massively increased their MD headcount, and has been hiring many senior people. They have many more MDs than CS or DB; I think per employee Barclays' fees are far lower than CS, and might even be comparable to DB (which still has a strong European and Asian business franchise and has massive reduced headcount).
Hmm. I guess "a while" is relative.
In 2018, Barclays came out on top against the other three Euro BB's in total M&A fees as well as total fees overall. They are also ahead of CS/DB/UBS in overall fees YTD in 2019.
The difference between Barclays and CS is marginal as it's always a discrepancy of ~$20-$50M. I'd agree they're always neck & neck. However, my point against OP still stands, it's technically performing better than its Euro peers overall and has been for the last ~14 months. OP is implying they aren't worthy of T10 when the reality is they most definitely are.
I'm not gonna get into MD headcount or any of that fees/employee BS. Evercore has the highest amount of fees/employee on the street yet they aren't "outperforming" GS/MS/JPM.
Sources: Initial Screenshot: Dealogic Claims in this comment: https://markets.ft.com/data/league-tables/tables-and-trends
Incredibly difficult to actually discern what banks actually earn on deals. However, it is well known that Barclays has far more MDs than CS or even DB. Not to knock on Barclays; plenty of my friends worked there/work there, and it is an excellent firm with a great culture and solid dealflow. However, it does have a lot of MDs, and the pay discrepancy between the former JPM MDs and older Barclays employees is well-known.
I would argue that in some ways Evercore outperforms the bulge brackets. While as a junior compensation is a little less important, for senior people they care about getting paid more along with all-cash compensation (applies less to Evercore, but the percentage of compensation paid in cash is far higher than at a bulge bracket). If you were a top-performing MD, there are a lot of compelling reasons to go to an independent advisory firm where you get paid more, and with more cash.
Wharton fits Lazard more than Moelis. Both EB's but Lazard has the hallmark name, old money reputation while Moelis is the fresh star on the street - maybe Duke?
Also, FSGod I agree with your assessment on which school to which bank. Harvard is massive, far bigger than Princeton or Yale, and fits more in line with JPM. Princeton and Yale or more similar to GS/MS. Wharton/Penn is definitely Laz (CAS can be Laz MM). Columbia as Citi makes sense, but I would say Dartmouth is more of a CS and Brown a Barclays - similarly ranked, smaller schools that are both excellent. Cornell is a bit like BofA. I would say Stanford is more like an independent firm, like Evercore or CVP merely because few people in Stanford want to do Finance but it is an excellent school
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