Is Greenhill really that bad? (M&A)

I know that GHL is not the place it used to be, but I have seen people on this forum say that culture is bad, deal flow is poor, and it is not really anEB. Have also read that comped meal policy is bad too.

Obviously,WSOis not always the best info, but this seems to be a consensus.

Does anyone have any insight into the quality of the analyst program? Do analysts just spend all their time pitching? I've read on here that exits are still decent. Does anyone happen to know anything other than what has already been posted?

Comments (57)

  • Analyst 1inIB-M&A
Nov 17, 2021 - 12:21am

Have friends at GHL and interviewed there-

The place is definitely a shell of what it used to be- look at league tables, their stock, anything can confirm that. In my experiences, junior culture is solid and people are generally nice/normal, but senior culture not great. No different than any other struggling bank, but you're going to have more pitching + angrier seniors who are feeling the heat.

That being said, think exit opps haven't fully caught up to the banks reputation, meaning GHL kids are getting similar looks to otherEBsjust off of the strength of the brand. No idea how long this will continue to last, but there's a case to be made that analyst seats at GHL are probably still a good launching pad. Would absolutely not want to be an associate+ here though

  • InterninIB - Gen
Nov 19, 2021 - 8:13pm

Thanks for the input. Can you expand on exits?

  • Analyst 1inIB - Cov
Nov 17, 2021 - 11:23am

According to LinkedIn, there is an Analyst at the SF office who graduated from McGill.. I think that sums it all up

Funniest
  • VPinIB - Gen
Nov 17, 2021 - 1:40pm

I didn't go to Mcgill but they have alum everywhere so you're either misinformed to the point of hilarity or a girl from Mcgill broke your little heart and you're salty

  • Associate 1inPE - LBOs
Nov 17, 2021 - 5:31am

I honestly don't know why anyonewould pick Greenhillover anEBor mostBBs. It's just not what it used to be and other banks arebetter in every way.

  • Associate 1inPE - LBOs
Nov 17, 2021 - 4:25pm

Makes sense if you're interested in restructuring, even though he got the shittiest of the relevant restructuring banks

  • InterninIB - Gen
Nov 18, 2021 - 8:13pm

I had a friend with a horrible analyst experience there. Rumors about Neil Augustine all true (writing comments at all hours of the night)... to think of the lack of self-respect those mid-level bankers have there to put up with that. Culture is next-level bad gtfo while you can

Controversial
  • InterninPE - Other
Nov 18, 2021 - 11:20am

Roth's NA is def on the strong come up (look at league tables). tho this wasn't the case a while back. Seems like they and GHL almost switched places in terms of deal flow, reputation, etc.

At Roth's you probs won't be pitching often they do an insane amount of deals with average size being around 600mm-1 bil (similar to Moe/LAZ). Exits are strong from their top groups (Rx, Industrials, Consumers). Deciding between GHL or Roth's in terms of experience and better senior folks I'd go Roth's.

  • InterninPE - Other
Nov 18, 2021 - 1:54pm

All the GHL analysts/associates MS'ing are clearly delusional LMAO

  • InterninPE - LBOs
Nov 18, 2021 - 10:06am

Any insight into GHL reputation outside of the U.S.? Toronto, London, Hong Kong?

  • VPinIB - Gen
Nov 18, 2021 - 8:28pm

Greenhill Toronto is a great shop, I worked in Toronto (not for GHL but for another shop) and those guys generate a lot of fees per head. Certainly hasn't declined like the US franchise. You can actually go to their website and see closed deals by region to give you an idea.

Nov 18, 2021 - 12:50pm

This question (and most of these types of questions) depend on your profile and whether or not you have options elsewhere.

If you're a nontarget and have no other offers outstanding, absolutely sign with no regrets.

If you have an offer from aBB,EB, or EBish (Gugg, Q, Liontree, Allen & Co, Ducera, etc.) probably worth taking those instead, but it still varies person-to-person.

  • InterninPE - LBOs
Nov 18, 2021 - 8:41pm

From what I have heard Allen & Co is pretty shitty at the analyst level, so not sure if it's a great idea to skip Greenhill for them

  • InterninIB - Gen
Nov 18, 2021 - 8:26pm

The firm is just bleeding talent every level. They've had double-digit associate/vp departures this year and several key departures at the MD level. Firm struggles to even pay its rent

  • InterninIB - Gen
Nov 18, 2021 - 10:42pm

how do you know they are struggling with rent lol

  • InterninIB-M&A
Nov 18, 2021 - 8:28pm

Does anyone think Greenhill might get acquired or is the firm doing well enough to hold on its own. Was wondering because many of the once successful firms in the 1980s were all bought up to this point.

Would be curious to see if that Happens tomoelis Greenhill Centerviewlater in like the 2030s

  • Associate 1inIB-M&A
Nov 18, 2021 - 11:24pm

Greenhill's not even appealing enough to be acquired at this point. If firms wanted Greenhill's top talent, they can just buy them out and offer comp packages (Look at Greenhill's stock the past few years).

A lot of boutiques start struggling after their founders leave, die, or step down (Gleacher, Greenhill,WassersteinPerella although they were acquired), and it's usually pretty hard for boutiques to maintain the longevity ofBBs精品店更了on individual bankers than a brand and a large product offering likeBBs. I think it'll be a test for the "new" gen ofEBslike Moelis, CVP, PWP, PJT, etc to see if they can maintain their brand and momentum after their founders step down. Although, to be fair,Evercorehas been a notable example of anEBthat has succeeded in passing the torch.

  • InterninIB-M&A
Nov 19, 2021 - 12:48pm

So yo think when Blair Effeon or Moelis retire those companies could eventually bought?

  • InterninIB - Gen
Nov 18, 2021 - 8:34pm

Over half of the current M&A class going to UMM/MF

  • Analyst 2inIB-M&A
Nov 19, 2021 - 11:24am

And Rx going to UMM/MFspecial sits-type groups

  • InterninIB - Gen
Nov 20, 2021 - 7:59pm

Do you happen to know what bonuses are at the analyst level?

Nov 19, 2021 - 1:32pm

GHL crushed associate recruiting at myM7. Got more people thanLaz, EVR, and Moelis this year (these people didn't directly turn these other banks down but I still think its an interesting thing to think about). I think at the analyst/associate level its a solid choice to start your career inIB, but the firm definitely is not what it used to be as others have said.

  • ProspectinIB - Cov
Dec 14, 2021 - 4:03pm

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