if you are in a position to take either offer, i would highly suggest taking neither, and committing yourself to an industry that prizes fundamental value creation; honestly, finance is not the place to be right now, and won't be until the discipline is "figured out" (and this will take awhile); there is no prestige here to be spoken of

 

Why do people care so much about prestige? There aren't that many people out there who give a damn about where you work as long as the firm is reasonably reputable. Between Moelis and Lazard, it's a question about "fit", not exit opportunity. Think about where you can perform better. Being a rockstar is way more important than working at, say, Goldman.

 

if you're looking to get into pe, you should stick with lazard. people here like to talk up moelis, but moelis is an unproven brand. there's no doubt that moelis is up and coming, but the question is how up it will get and how legit the analyst classes will actually be. from a track record standpoint, moelis analysts have nothing.

that said, if you're serious about pursuing a career in banking, you should focus on fit. at either bank, if you prove yourself and put in your dues, you'll get solid transaction experience and if you're good, you'll advance.

 

The love of MoCo here by the college sophomores and wannabe's is hilarious. Nobody in their right mind should take Moelis over Lazard unless you are a masochist - then you'll fit right into the culture there. Lazard has great exit opp's, great deal flow, and is not a slave ship. The only think MoCo cares about is how much the top 3 guys end up making at the end of the year, there is absolutely no care/regard given to anyone below. It's quite the feudal system they have, and apparently the newbies on here just love jumping on that bandwagon.

 

Both banks have reputations of chewing out their analysts. The Pros for Moelis is I think slightly better placement, less bureaucratic BS, pays a bit more, and it's still a growing firm. The Pros for Lazard is that it's focused on corporate advisory (Moelis does a bunch of sponsors stuff which sucks), and bigger deals.

Depends on what's important to you.

 
RoleTied:
Moelis does a bunch of sponsors stuff which sucks

Although I don't disagree, Moelis' consistent sponsor work (sell-side M&A for sponsors is its bread and butter) is a major reason it places so well into PE. The MDs have great relationships with these funds and will refer you. Plus you develop your own relationships with the fund's professionals from working on these transactions.

 

I was at the same cross-roads as you before starting FT. I am happy to provide some insight to my thought process and decision. Can provide commentary on both shops, obviously a bit more at the one I decided on. Shoot me a PM if you are interested - I'd prefer not to go into greater detail in this thread. If not, I'll provide you some very vague sage-like advice. Depending on what truly interests you in banking, this decision is a no-brainer. While both of these shops come with the intense learning experience of being at an elite boutique, their business models vary significantly on a fundamental level that you will take notice to, even as an analyst.

 

Congratulations, and thanks for the update on your decision! I hope you enjoy your experience there.

 

Deal flow quality will definitely not be similar between the two. Lazard, particularly this year, has been on an absolute tear. They've been on almost all of the megadeals. That being said, there's a lot more to the choice than prestige. If you want to see your deals on the front page of the WSJ, go Lazard. Exit opps are comparable, but Lazard certainly has a slight edge. If you're set on M&A, there's no better place.

 
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