which offer

qwerasdfzxcv's picture
Rank: Chimp | 4

I was lucky enough to have offers from some of the usual suspects from this list:
Blackstone, Evercore, Lazard, Moelis, Greenhill, MS (not M&A, get a generalist, I don't know which division).

Can someone comment on which option would be best for me? All the small ones are for generalist/M&A advisory. All positions for NYC. I'm not looking anywhere else, i.e. like Moelis LA.

Comments (13)

Sep 17, 2010

Greenhill > Moelis >Evercore > Blackstone>MS > Lazard
(personal opinion)

Sep 17, 2010

^pretty much opposite

Sep 17, 2010

i personally would take greenhill or evercore first, then blackstone -> lazard-> ms-> moelis

the hours in ghl and evercore are bad, but blackston and lazard are just cruel....

Sep 17, 2010

what about in terms of:

a) exit opps
b) future deal experience

regardless of the lifestyle

Sep 17, 2010
Sep 17, 2010

I don't know why everyone is ranking the boutiques above MS. I personally would take a BB, especially MS, over the boutiques any day. I think the benefits of a large firm outweigh any marginal prestige you might gain from the smaller shops. Bulge bracket firms have:

1) More global name recognition
2) Wider network/alumni within the firm
3) More Analysts in your class to be friends with
4) Better resources (i.e. presentations teams, offshore support offices to do your mundane work, libraries, etc).

These things make a big difference in your job experience. Another thing you should consider is culture of the groups you've met. when spending 100 hours in the office, you want to work with people you get along with. I don't know much about MS' culture, but I know Lazard's sucks (see other threads).

That said, if you're looking purely at prestige/exit opps into PE, I would say:
1) Blackstone, Evercore, Greenhill
2) Morgan Stanley, Lazard
3) Moelis

Sep 17, 2010

Still a college senior, and hate ranking given my 10 WHOLE weeks of investment banking experience as a summer analyst, but from what I've read/heard, I'd personally go with, in terms of exit ops and "future deal experience":

LAZ > MS > BX > MOELIS > EVR > GHL

Sep 17, 2010

I put MS to the bottom of the list because he wasn't sure which group he's gonna get and i don't think he's gonna be put into tmt or m&a.

As far as the support team, these boutiques have the same set of support team,too. People who do graphics/ print and bind for you, etc.

I personally think the whole firm networking is kinda a bs. You will still need to impress the person to get you a job/help you out, which comes from your exp as an analyst.

Global name recognition...if you go to somewhere in Asia, yeah it might make sense. But everyone in finance knows those firms in the U.S.

More analysts as friends...what if you are stuck in a group with a bunch of dickheads and pricks?

Just personal preference though, when you are interviewing with a boutique, you already kinda know whether you like the culture or not as opposed to a BB where you can be put into any random group...

Oh yeah one more thing, in those boutiques you work as generalist on M&A or rest deals (i think bx split those groups into two), which the exp will trump many of the MS groups...

Sep 17, 2010

Elite boutique experience, generally speaking, is more sought after, especially from the list above (minus Moelis from what my friends there are telling me - lots of busy work). I would add PWP, Centerview and Miller Buckfire for restructuring to the list as well.

  1. You get to do M&A and restructuring.
  2. You are able to think STRATEGICALLY and FINANCIALLY and have a better understanding of the big picture. Something you definitely do not get to do at a BB.
  3. Access to senior bankers and clients. Check any WGL for deals involving both a BB and a boutique and you'll find the team size for a boutique is usually 1/3 the size of the BB.. 90% of the time the boutique will only carry 1 analyst on a 1bn+ deal while the BB will have 2 from the coverage group, 2 from M&A and another 1 to 2 from financing. Result - The analyst (personal experience) from the boutique gets to go to the closing dinners and socialize with the CEO/CFO of a F100 client while the analyst from BB gets stuck at the office doing some meaningless profiles.
  4. Analysts from boutiques do more meaningful work. When we are working on deals with BBs, those guys are ALWAYS the ones putting together WGLs and managing data rooms or inserting pictures into IM while I did a lot of the modeling. I'd say the level of work for a 1st year at a GHL/EVR is the equivalent of what a 2nd/3rd year does at a BAML/Citi etc..
  5. Exit Opps - Everyone at my boutique got megafund interviews from the previous year. The middle of the road analysts got offers at Warburg Pincus / MDP / THL.. If you take a survey of the 100+ analyst classes at a given BB, even GS and MS, I'd be surprised to find more than 20% of them getting offers at the aforementioned places.
Sep 17, 2010

Those are some pretty solid offers. Just wondering, what's your background (Academics/Professional)...

Sep 17, 2010

ivy league business program
previous internships in two BBs (legitimate banking internships) and $20bln+ PE fund internship.

keep the comments coming.
i know everyone hates rankings, but any more of these based on:
exit opps and deal experience

would be much appreciated.
also, let's now stick with:

moelis, lazard, centerview, evercore, greenhill, blackstone

(as a disclaimer, I do'nt have offers from all these firms, just some of these)

Sep 19, 2010

Between LAZ, BX, GHL, and EVR, I don't think you can go wrong. That said, here are my opinions:

Exit opportunities
LAZ and BX are the top, followed closely by EVR and GHL

Deal experience
LAZ and EVR are probably the best, followed by GHL and BX

Culture (which I know you didn't ask for -- but you should definitely consider)
GHL is probably the best, and BX is pretty good. LAZ has terrible, terrible culture. I have no experience with EVR, so I can't say what it's like there.

Sep 19, 2010
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