Yes. It's another BB vs EB for MBA associates thread. I understand top BB would be better for non-finance exits/career banking progression and EB for better pay but was curious about GS TMT vs PJT/EVR dynamics.
Many on this forum consider GS TMT the top group you want to be placed in for MF PE exits but does that mean you have (even slightly) better chance in buyside as an MBA associates?
Thoughts?
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Assuming you have these offers, I think I would go with GS TMT honestly. If I realize banking isn't for me and I want a better lifestyle, I can imagine coming from this group can garner some great corporate exits. If I like banking? I can always try to lateral to an EB down the line.
Nd
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MBA programs trend heavily Evercore vs. MS/JPM. The pay delta (as mentioned above) is real.
I'd still gravitate towards Evercore over MS/JPM M&A and also other lower-tiered EBs over lower-tiered BBs' M&A groups. I've personally come across more interesting deals & projects at EBs in general + found my peers, analysts and seniors at EBs to be sharper. I've worked at a top BB (GS/MS) pre-MBA but find EB's assignments to be more of a hybrid between M&A and consulting. This is a generalization to a large degree though. At this point, I think fit with your group might be more important than some of the other factors.
Don't sleep on MS M&A
The PE/HF exit ops are exactly the same across the two, but agree in principal that having pre-mba background helps in either case.
More importantly responding because your comment here was enough for me to be 85% sure who you are so that was an lol knowing you're on here talking up your bank. Maybe just 10% less detail would be better, mate.
Not sure if i'm the person you're thinking of, but been a year plus out of banking since covid and with corporate acq now. Wouldn't say I'm talking up Evercore blindly. GS or any other US BB are better fit for a lot of people depending on their circumstances and priorities.
Bump
PJT RSSG > Goldman TMT
FWIW Evercore and GS actually have the same sized MBA associate class (40-ish), but GS has done $1.2trillion in announced M&A YTD and Evercore has done $280bn YTD.
I would start at GS TMT for career branding and the volume of reps and jump to EVR at VP or higher for the better take at senior levels.
That’s not the best advice.. why join GS, lost a couple of $$$ (~talking abt 250k assuming you stay there till As3), before joining EVR when u can join right away? And no.. there is really no special treatment whatsoever with all the reps you think you might have earned at GS.. you watch way too much wall st movies
Get paid. Choose pjt if rssg if it’s pjt m&a then go to evr
Gs shouldnt even be in the discussion here at post mba level imo
At the MBA level it’s a culture thing between EVR and PJT m&a
Which has the better culture?
In my class (2020), 3 folks who got EVR offer all chose EVR and turned down other options, including GS, JPM, MS, and other EBs. Centerview did not recruit at my school that year so it was out of discussion. I do find those 3 are sharper and generally the "speaker" of the class when everyone is quiet in class.
Do you have an idea where Centerview even recruits for MBAs? Have seen only one associate on LinkedIn
There are several core schools as far as I've heard. Wharton, CBS, Booth, and Stern should be all on the list.
For culture and pay would choose PJT
.
Why did you hate EVR’s culture?
What about CVP as an MBA Associate?
Their high retention means they don’t recruit much out of MBA. They usually do take a couple people, though from very select schools.
This used to be true but now they're hiring a real summer associate class with FT conversions. You're right about the selective school part though.
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EB > BB for Post-MBA. The group prestige + buy-side placement factor that drives Analyst decision making just does not apply. Culture, compensation and learning should be the focus. Doing both the coverage and execution will help build a more robust skillet and knowledge base if the intention is to stay in finance.
As for PJT vs. EVR, the personality types are very different. You should go where you fit best.
Interesting point. What's the difference in personality between EVR and PJT? Is EVR more of the bro fratty type whereas PJT is more intellectual?
All the MBA Associates from my M7 class who made the transition to the buyside (MM PE/ Credit/ Long-Only AM) came from EBs. They developed strong modeling and technical skills but also had industry knowledge, their current seats all have a sector focus
Exactly. It's less about being the junior with the best general modeling skill set and starts to be about the whole package (technical skills, pre-mba work experience, sector knowledge etc.)
In that sense, isn’t that the advantage of working in BB over EB? Especially at Goldman where you get industry exposure + execution experience along with various products in BB.
How is this even a question? You’re going to lose out on hundreds of thousands of dollars over the next few years as an MBA associate? For the analysts I guess it doesn’t matter because it’s only 2 years but post MBA you need to make the most you can.
I just accepted my offer for summer associate (at MBA program now)at GS but unfortunately got cut from my top EBs (PJT/EVR/CVP). Do you have any advice on what to do this summer to try to get a full time associate offer at an EB?
You can speak to people you’ve networked with at EBs (call them independents when speaking, people don’t use that term IRL). See if there are spots at the end of the summer. If not you can lateral out at the end of first year. Both of these are extremely realistic and can be done if you want to.
Start indicating your interest from the onset of your internship with folks you networked with at PJT/EVR/CVP
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