Seeing Evercore Taking Low Caliber Laterals Recently
Been seeing people on LinkedIn from semi-targets/Canadian schools and low tier MM (or even regional boutiques!!) tier banks lateral into Evercore either as an analyst or A2A, really caught me off guard and made me think about how people over the past couple years were mentioning Evercore's quality being diluted from expanding headcount too much, too fast.
Does anyone have anecdotes or opinions leaning either way to provide? This is making me reconsider Evercore's status among EBs as "up there" with CVP/LAZ/PJT as they seem far more selective and exclusive, partly due to smaller headcount.
This is a very poor take. Look at them from their deal flow and fees standpoint rather than where their analysts come from. Highly elitist of you and little no to evidence of them becoming less of a prestigious bank.
“Making me reconsider Evercore’s status among EB’s” calm tf down intern from Canada
Clearly troll for missing Natixis in the EB list
This isn't an elitist stance, a high finance shop that is regarded as one of the best globally should not be scraping the bottom of the barrel for laterals, especially in these market conditions. I'm not suggesting they should only take Wharton 4.0s from GS/MS/CVP/PJT, but there's plenty of laterals from WHYPSM from mid-high BBs and EBs without dumpster diving.
Every comment I've seen you make in the last year has made me roll my eyes
Have you been outside today? Touch grass
You realise your first job out of college doesn't define your whole career? What if they interviewed both LMM and BB kids but the LMM candidates impressed in interviews more.
You sound like you landed a top bank out of undergrad and think everything should be handed to you on a platter and you're above everyone else
“Scraping the bottom of the barrel” , “Dumpster diving”
this Barbour guy is a certified savage lmao
How do you know these laterals are low quality…?
L take
if this is true, then everyone should be delighted because subpar lateral hiring is a symptom of bull markets. Whether it's Evercore or Sumitomo, everyone lowers the bar when there's a talent grab.
Gaslight Gatekeep Girlboss
touch grass
Remember guys this is the same fellow who said the 500 smartest people in finance in any given college class are in Wharton.
I had completely forgotten about that dumpster fire of a post
What? Not following your comment, though I agree with the sentiment
omg bro you can't be for real hopping on an alt to defend yourself is crazy
No… no this person did not say that. I get there is stupid but my god. I refuse to believe someone can exhibit this type of brain rot
Apologies in advance for your eyes but… scroll down. He doubled down on this comment more or less lol
Hey man - I am going to be as nice as possible with this response. I have worked with a ton of Queen's students, and they have been some of the best people I have worked with and are usually the top quarter of Analysts. Firstly, it is unfortunate that you think that you suddenly can predict who is good or bad for a job based on your so-called acquired intelligence. Evercore did not get to where they are by being a bank that hires bad subpar talent - being hired in such a market like this should tell you enough about the caliber of talent these people possess. Your point about the laterals going to Evercore this month coming from irrelevant schools is pointless and says you do not know a lot about how Canadian banking and landscape work.
Firstly, a good amount of these laterals came from Queen's University, which is one of the most prestigious schools in Canada along with Ivey, and has consistently placed numerous students in the US for decades. This past summer alone had Queen's students at Blackstone, PJT, Evercore, Moelis, Goldman Sachs, Bridgewater, Point72, BDT&MSD, BC Partners, amongst others - once you consider that this is a non-US school placing at firms that are considered extremely prestigious even within the Harvards and Penns of the world, that should tell you the calibre of students coming out of the Queen's Commerce program.
Secondly, many of these students were part of investment clubs at Queen's, such as Limestone Capital and QUIC, which are extremely prestigious and have alumni at many major banks, PE firms and hedge funds in the US - feel free to check the websites of these clubs, and you can see the calibre of their group and alumni base.
Lastly, you make it seem as if the work done at a certain bank is so unique that it cannot be done anywhere else. What makes Canadians a strong target for many schools is due to the following: 1. Canadians who have any shot to work in the US have to work twice as hard to get that visa sponsorship, so firms know they are getting extremely hard-working talent. 2. Although majorly in the Middle Market, these banks such as TD, RBC, CIBC, Scotia and BMO dominate the entire Canadian market, and as such many of these analysts are able to get tremendous deal flow and reps, so they are able to come into the job with a solid experience and reps in their belt. Getting a job at these banks is also extremely hard as, unlike the US, there are only 5 major banks in Canada, all having a class size of 10-20, so once you compare that to the student population of the entire country, the people who actually end of here are usually at the top half of their respective schools.
So hey - be nice and enjoy the new year. No need to downplay people's success and be a hater. Be nice and grateful for where you have gotten, and you will get further in life!
You can use mental gymnastics as much as you want to make it seem as if Canadian semi-targets are on par with Wharton. They are not. Their application pool is solely from Canada, while Wharton takes the top ~500 high school students each year from across the world. In raw numbers, this makes Wharton 211x more selective. Kids at Queen's/Ivey may be the cream of the crop of their country, but kids are Wharton are the top 0.000000001% globally. This isn't even to mention the quality differential of their high school educations, as no Canadian school compares with the likes of Andover/Eton/Exeter.
Never said they are on par, all I said is that for a non-US school, they get jobs that even the top students at Wharton seek. Funny enough, a good portion of Queen’s Commerce students are not even Canadian with quite a few actually being American. It is also quite hilarious that you mentioned 3 very expensive private schools as if this is what the 99% of Americans get. Canadian public schools are one of top ranked globally, and although they have a ton of private schools, it’s not as much as a need as the public system does quite well.
I hope you find some time to reflect on your life and hopefully become more grateful and less egotistical.
You don’t need to be the next coming of Newton to spread comps, kid. We’re not talking about quants at Jane Street here. Banking is not a high IQ job. Junior banking is a grindy, stamina-based job.
I can't wait to see you leaving your adolescence bubble prolonged to university (university seen as distant reality from the real world) and realize that everything you wrote means jack shit in business and career success. But if you plan to remain in academia and masturbate about how good your university is, then you're on the right track - just please stay away from any business career because I can't imagine how disappointing it will be for you to hear during your GS IB M&A TMT SA programme about how an Apollo associate from University of Alburquerque keeps your Wharton VP wake - including you dear prospect - to prepare some irrelevant shit for the next morning.
Lol just because the privileged Eton and Exeter kids background allowed them to be more prepared at an early age to recruit for top banks doesn't just magically make their raw IQ higher. What do you think happens when the scrappy state school kids (who are smarter than them) earn their stripes at a MM then move over to better banks? Oh yeah they are back on a level playing field now that they have learned the same things and start outpeforming.
The meat riding is crazy
Okay, calm down. What makes you imagine that every single bright person on the planet is specifically interested in leaving their home country to go specifically to USA?? There are LOTS of non-intellectual barriers (especially financial wealth-based) to entering USA too—so calm down with these bazillion decimal points, planet earth doesn't revolve around coming into the United States.
What about diversity admissions and affirmative action? Why are u assuming college admissions are largely meritocratic?
This is a crazy post.
From my experience, schools are pretty awful predictors of talent in this job. Wharton does produce highly trained, usually focused and ambitious analysts, but it’s not a monopoly.
As Ace Greenberg used to say, the best predictor of analyst talent is usually finding a “PSD” - poor, smart and determined. I’d sooner take a 4.0 from Baruch than someone with an equivalent grade at Harvard; I’d rather take someone who was the first in their family to get into college than a legacy from Exeter.
“Grit” is a much better predictor than “polish”.
PS - I went to Wharton.
Maybe the Canadians just grind harder?
.
IB intern in Toronto here - I think this is probably the best post explaining Canadian IB I have seen in the 1.5 year I have been on this website.
i read a lot of stupid shit on wso. but this has to be one of the worst takes i’ve seen in a while lol
I’ll say what everyone is thinking - you’re retarded
I always assume people posting like this are upper/upper middle class brats who can't land a job
It must be difficult seeing kids from poor backgrounds do better than them. A reminder how unsuccessful they are
What a tool
This belongs in the smoke frog section of wso. I feel you OP. Seeing the salt of the earth types invade the hallowed ground o Ivy League graduates is depressing. Stay strong despite all the negative feedback on this thread. Just remember, no matter how hard they work, pure bloods > mudbloods, long live the dark lord!
Folks, 3 weeks ago this guy was asking for opinions on sophmore internships.
This guys opinion is a fart in the wind.
I went to school with the individuals you are referring to - some of the nicest and hardest working people around. Blows my mind how inconsiderate and rude people can be talking about individuals they know nothing about.
Bold statement claiming top students from a 1st world country are "low caliber" talent. Life exists outside of America.
Where you go to school is almost irrelevant if you have the same amount of skills... I know plenty of bankers from Baruch and Hofstra who are most likely 100x better than you.
I’m just going to assume you’re a student judging by your last few posts. The fact that Evercore is hiring laterals who attended semi-targets and “lower tier” banks is probably attitude and work ethic. They want people who have something to prove. Let me use the analogy of a sports team. You can have all the talent in the world but if they’re complacent they will lose (look at the Toronto Maple Leafs every year). Compare that to a hungry team, with a chip on their shoulder looking to prove everyone who passed them over wrong (Vegas Golden Knights). They ended up having immediate success and winning the cup recently. The Golden Knights were made up of players nobody wanted in the expansion draft. Evercore wants this mentality on their teams. They know these laterals will fight for mandates and are hungry to prove themselves. Lastly, I want to point out that banks care about your attitude and no matter how technically you are nobody wants to spend long hours with someone who looks down on their coworkers. I’d improve your attitude.
clown ass take LOL
one of these is not like the others
Is this a troll account? All of your posts are unhinged
lmao he's definitely trolling, if not, the bro deserves some serious bulling and a few punches.
Get laid
The matrix is real. WSO is censoring my account when I say it. Ultimately think we needa wake up and see this industry is bafoonery
It’s both hilarious and pathetic that people like you actually exist and work in this industry.
BarbourBateman's SB to MS ratio is quite impressive..
Can someone remind me where Rohatyn and the OG Weinberg went to school? Can someone remind me where George Roberts went to school? What about Gorman and Solomon?
I can keep going but I think you get the point
Middlebury, Claremont McKenna, Claremont McKenna, U of Melborune then Colombia MBA, and Hamilton
All good schools
And look at the schools that the other person was critiquing. Besides Sidney being a HS dropout, all those schools that the other person is critiquing are in this same class of schools. They are largely solid, not elite, schools that don’t have 30%-plus of the class going to Wall St.
Although if you want to give Gorman the Columbia credit, fine. Strip him from this. Replace him with Jimmy Lee
Yes, true.
but Solomon’s very nearly as retarded as the OP on this thread.
Based on your past comments you sound like a student in Canada. You’re just hating - worry about yourself and get a job
Really? Congrats on Evercore!
Elon Musk and his brother both attended Queen’s Commerce… (Elon later transferred to Penn tbf)
Bruh…have you spoken to any of these laterals? Do you have any anecdotes of how capable/smart they are? Not sure how you claim any of this based off where they’re coming from.
OP was rejected either by Queen's or Evercore. Or he was cucked by a Queen's Commerce guy.
Pedigree means nothing after a certain point. The only reason pedigree is high in finance is because of money. It’s easier to hire from the group that statically has better performance than spend the time and money to weed through everyone.
I'm with you man - EVR is f*cked
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