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DPW finance group
Posted: Wed Sep 22, 2021 9:04 am
by Anonymous User
How is dpw's finance group? Hours? Exit options? People? Client contact for juniors?
How different is working as a junior in the banks vs sponsor sub-groups?
Thanks so much!
Re: DPW finance group
Posted: Wed Sep 22, 2021 1:32 pm
by Anonymous User
Bump!
Anyone? Need to decide in a few days.
Re: DPW finance group
Posted: Wed Sep 22, 2021 1:34 pm
by Anonymous User
I'm across from DPW finance on some deals and one thing I've noticed is that, unfortunately unlike me and my firm/team, they seem to actually take regular vacations and their culture seems to support that.
Re: DPW finance group
Posted: Wed Sep 22, 2021 8:07 pm
by Anonymous User
Thanks! Anyone else?
Re: DPW finance group
Posted: Wed Sep 22, 2021 10:05 pm
by Anonymous User
Anonymous User wrote: ↑Wed Sep 22, 2021 1:34 pm
I'm across from DPW finance on some deals and one thing I've noticed is that, unfortunately unlike me and my firm/team, they seem to actually take regular vacations and their culture seems to support that.
I recently lateraled to DPW (not finance group) and made a joke to a junior saying "can we do this thing today, I don't want to bother you on vacation haha" and they said something like "I'm glad, we don't interrupt people on vacation here"
That combined with other things I've seen, suggest they respect vacations as much as practicable.
Re: DPW finance group
Posted: Thu Sep 23, 2021 10:01 pm
by Anonymous User
Great, vacation time sorted!
Re: DPW finance group
Posted: Fri Sep 24, 2021 4:29 pm
by Anonymous User
That group regularly hire 3Ls because no DPW juniors want to join them after their 6-month rotation. I heard the work is rigid and there's little exit option.
Re: DPW finance group
Posted: Fri Sep 24, 2021 5:06 pm
by Anonymous User
Anonymous User wrote: ↑Fri Sep 24, 2021 4:29 pm
That group regularly hire 3Ls because no DPW juniors want to join them after their 6-month rotation. I heard the work is rigid and there's little exit option.
Interesting. How true is that for finance/credit groups of other top firms? Or you think it’s specific to DPW finance?
Re: DPW finance group
Posted: Fri Sep 24, 2021 6:07 pm
by Anonymous User
Absolutely agree with anon’s take. I would go elsewhere if you have options—my friends at DPW who transitioned out of finance and said it’s a bitch (generally it’s not the best practice for exit ops) and that it’s one of the most miserable practices at the firms. Apparently some real douchey partners, hours sucks, work doesn’t vary much. If you have other options, definitely consider them, even if not ranked as highly imo
Re: DPW finance group
Posted: Sat Sep 25, 2021 7:40 am
by Anonymous User
OP here. Thanks for that take. Are the hours worse than capm/m&a? I'd heard they are more predictable in finance.
Re: DPW finance group
Posted: Sat Sep 25, 2021 9:15 am
by Anonymous User
And can you elaborate on douchey partners? Yellers? Dumb? Need face time?
Re: DPW finance group
Posted: Sat Sep 25, 2021 11:22 am
by existentialcrisis
Anonymous User wrote: ↑Sat Sep 25, 2021 7:40 am
OP here. Thanks for that take. Are the hours worse than capm/m&a? I'd heard they are more predictable in finance.
Not really, because weekend commitment papers.
Also the exit options are way more limited.
Re: DPW finance group
Posted: Sat Sep 25, 2021 4:23 pm
by Anonymous User
Thanks. Anyone know if moving across practice groups is an option for a dpw junior? Would go in with an open mind, of course.
Re: DPW finance group
Posted: Sat Sep 25, 2021 9:58 pm
by Anonymous User
Normally yes if you’re a summer but if you get recruited for a specific croup they’re not gonna move you around. Be ready to commit to that group. Good luck. What are your other options?
Re: DPW finance group
Posted: Sat Sep 25, 2021 10:27 pm
by HLS1983
Given DPW rotation system, I would think you could always do a 6-month rotation in finance and then decide whether to stay. Not sure about strength of the group, though. Hope you found some helpful advice OP
Re: DPW finance group
Posted: Sat Sep 25, 2021 11:27 pm
by Anonymous User
Band 1 practice with the caveats mentioned in the thread.
Re: DPW finance group
Posted: Sat Sep 25, 2021 11:47 pm
by Anonymous User
Have since (recently) left DPW, but had always heard through the rumor mill that Finance was one of the better big groups to work in re: personalities. But that might be a low bar with negligible QoL difference since big corporate groups in NYC V10 universally suck. Hours for friends there seemed to suck, but likely no worse than cap mkts or M+A. Heard they're very strong/reputable for what they do, but bad things about exits (although that sounds like Finance generally).
Re: DPW finance group
Posted: Sun Sep 26, 2021 7:20 am
by Anonymous User
Anonymous User wrote: ↑Sat Sep 25, 2021 11:47 pm
Have since (recently) left DPW, but had always heard through the rumor mill that Finance was one of the better big groups to work in re: personalities. But that might be a low bar with negligible QoL difference since big corporate groups in NYC V10 universally suck. Hours for friends there seemed to suck, but likely no worse than cap mkts or M+A. Heard they're very strong/reputable for what they do, but bad things about exits (although that sounds like Finance generally).
Exit opps can be pretty good if you'd like to pivot to a lev fin IB group (as an investment banker). Have come accross a couple of guys from DPW's peer firms, that have pivoted to such role from a finance/credit practice (to my knowledge they didn't really have a prior IB experience).
Re: DPW finance group
Posted: Mon Sep 27, 2021 3:57 pm
by Anonymous User
Thanks all. Other options are Cleary general corporate pool and V&E Houston.
Re: DPW finance group
Posted: Mon Sep 27, 2021 4:07 pm
by Anonymous User
You guys are scaring me about finance exits! Are they really that bad? What's so bad about working for a bank?
(Not OP, diff firm, unlikely to be able to switch groups).
Re: DPW finance group
Posted: Mon Sep 27, 2021 4:23 pm
by Anonymous User
Anonymous User wrote: ↑Mon Sep 27, 2021 4:07 pm
You guys are scaring me about finance exits! Are they really that bad? What's so bad about working for a bank?
(Not OP, diff firm, unlikely to be able to switch groups).
Are you excited to work at a bank when you could work at a not-bank? Would you like to tie your in-house day-to-day/hours to a bunch of investment bankers scrambling to pump out their hundredth term loan of the year, or would you prefer to work for a regular company for almost (if not) the same pay?
Also, commitment papers really, really suck.
Re: DPW finance group
Posted: Mon Sep 27, 2021 4:41 pm
by Anonymous User
Anonymous User wrote: ↑Mon Sep 27, 2021 4:07 pm
You guys are scaring me about finance exits! Are they really that bad? What's so bad about working for a bank?
(Not OP, diff firm, unlikely to be able to switch groups).
Working at a bank's mid office is the worst job. It's boring as hell and the traders/bankers would despise you. Go to Cleary.
Re: DPW finance group
Posted: Mon Sep 27, 2021 4:44 pm
by Definitely Not North
Yeah go to Cleary for general corporate. Unless you love finance or want to live in Houston immediately, you'll be thankful for the exit option flexibility later. It's tough to escape pure finance
Re: DPW finance group
Posted: Mon Sep 27, 2021 4:57 pm
by Anonymous User
OP here. Thanks all.
Can anyone be kind enough to tell me what exactly working on a commitment paper looks like? Done some basic research but the practical law definition obviously doesn't tell me why everyone hates them.
Re: DPW finance group
Posted: Mon Sep 27, 2021 5:19 pm
by Anonymous User
Anonymous User wrote: ↑Mon Sep 27, 2021 4:57 pm
OP here. Thanks all.
Can anyone be kind enough to tell me what exactly working on a commitment paper looks like? Done some basic research but the practical law definition obviously doesn't tell me why everyone hates them.
It's a bunch of banks bidding on the rights to lead acquisition financings.
For an associate, this means drafting separate, fairly long-form agreements on super short notice whereby a bank would commit to providing financing on certain terms in case the underlying M&A deal actually signs. They always come on compressed timelines. For me, they always came Thursday or Friday and gutted a weekend because they had to be done ASAP.