Discover your dream Career
For Recruiters

The elite boutique that pays $800k, is hiring wildly & cares about wellbeing

If you're looking for the optimal place to work in investment banking now, PJT Partners would like to put itself forward.

Get Morning Coffee  in your inbox. Sign up here.

The elite boutique, which announced its fourth quarter results today, paid its average person even more for 2023 than we predicted in October. Back then, it seemed that PJT might pay an average of $762k. In fact, it paid its 1,000 employees an average of $805k last year.

At the same time, PJT has once again added various employee testimonials to its investor presentation. Enthusiastic employees say they're doing the "right thing" for clients and the firm, that there's a culture of "collaboration and respect", a "spirit of excellence" and "a very strong culture of respect…diversity, inclusion, [and] wellbeing." 

It all sounds very fine indeed, and there's no mention of PJT's historic reputation for 80 hour weeks, or of the time that somewhere there sent an email asking why juniors weren't responding at 3am. 

People who want to join PJT's throng of thrivers will be pleased to hear that it has a long history of hiring and that its hires have a long history of paying off. 

The charts below, taken from today's presentation, illustrate the benefit of adding bodies at the boutique, although the increase is not proportionate.  In the past eight years, PJT has increased headcount 187% and increased client numbers 82%. 

Advisory partners have gone from 18 to 73 over the same period, and 20 of those new partners have been on the platform for less than two years and are still getting up to speed.

Revenues at PJT rose 12% last year. Pre-tax income, however, fell 12%.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.