Moelis & Company is one of the premier elite boutique investment banks, known for its global reach, broad advisory capabilities, and entrepreneurial culture. Founded in 2007 by Ken Moelis — a veteran dealmaker who previously led UBS’s investment banking division — the firm has grown rapidly to become one of the most respected independent advisory firms in the world. For students who want elite boutique deal experience with a global platform, Moelis is a top destination.
In this guide, we will cover everything you need to know about Moelis & Company — from the firm’s business model and key strengths to the recruiting process, analyst experience, and how it compares to other elite boutiques like Evercore, Centerview Partners, and PJT Partners.
Moelis & Company: Firm Overview
Moelis & Company is an independent advisory firm that provides strategic advice on mergers and acquisitions, restructurings, recapitalizations, and other complex transactions. The firm went public in 2014 and operates with a global footprint that includes offices in New York, London, Los Angeles, Chicago, and other major financial centers around the world.
What sets Moelis apart from some other elite boutiques is the breadth of its operations. While firms like Centerview are known for being extremely lean and focused on the largest deals, Moelis has built a wider platform with more industry coverage, more offices, and a larger analyst class. This gives Moelis a scope that bridges the gap between a traditional elite boutique and a global bank — though without the capital markets and trading operations of a bulge bracket.
Key Business Areas
M&A Advisory
M&A advisory is the core of Moelis’s business. The firm advises on a wide range of transactions, including mergers, acquisitions, divestitures, spin-offs, joint ventures, and other strategic alternatives. Moelis works with corporate clients, financial sponsors (private equity firms), and boards of directors on transactions across industries and geographies.
The firm has been involved in a significant number of notable transactions since its founding, and it consistently ranks among the most active independent advisors globally. If you are interested in learning the fundamentals of M&A deal analysis, our guides on merger models and comparable company analysis are great resources.
Restructuring
Moelis has a strong restructuring practice that advises companies and creditors on complex financial situations. The restructuring team has worked on many significant distressed situations and is well-regarded in the market. While PJT Partners is often considered the top restructuring platform among elite boutiques, Moelis’s restructuring franchise is a meaningful part of its business and provides valuable countercyclical revenue.
Capital Markets Advisory
Moelis also provides capital markets advisory services, helping clients think about optimal capital structures, refinancing strategies, and capital raising approaches. This is a pure advisory service — Moelis does not underwrite or distribute securities — but the team works closely with the M&A and restructuring groups to provide holistic advice to clients.
Industry Coverage
Moelis has dedicated industry coverage teams across a range of sectors, including technology, healthcare, energy, industrials, financial institutions, consumer and retail, and real estate. This broad industry coverage is one of the things that differentiates Moelis from smaller elite boutiques that may not have as many dedicated sector teams.
Why Students Want to Work at Moelis
Elite Boutique Brand with Global Reach
Moelis offers the combination of an elite boutique brand with a global platform. The firm has offices in multiple countries, which means analysts can get exposure to cross-border transactions and a diverse client base. This global reach is a differentiator compared to some smaller boutiques that operate primarily out of one or two offices.
Compensation
Moelis pays at or near the top of the market for elite boutiques. First-year analyst total compensation is highly competitive, and the firm has historically been among the first movers when it comes to raising analyst pay. The independent advisory model generates strong revenue per banker, and those economics translate into competitive pay packages.
Entrepreneurial Culture
Moelis has a reputation for having an entrepreneurial, meritocratic culture. The firm was built from scratch by Ken Moelis and a team of experienced bankers, and that founding spirit continues to influence the firm’s culture today. Analysts who demonstrate strong performance and initiative can get noticed and rewarded. The firm also tends to be less hierarchical than some larger banks, which means junior bankers may have more direct access to senior leadership.
Deal Variety
Because Moelis has broad industry coverage and works on M&A, restructuring, and capital markets advisory, analysts can get exposure to a wide variety of transaction types. This breadth of experience is valuable for career development and can help you figure out which area of finance you want to focus on long-term.
Exit Opportunities
Moelis analysts have strong exit opportunities into private equity, hedge funds, growth equity, and corporate development. The firm’s elite boutique brand is well-recognized by PE headhunters, and Moelis analysts regularly place into top buy-side firms. Analysts in the restructuring group also have strong options at distressed-focused funds and special situations shops.
Moelis Recruiting Process
Who Gets Hired
Moelis recruits from a mix of target and semi-target schools. The firm’s larger analyst class compared to Centerview or PJT means it casts a slightly wider net, but the process is still highly competitive. Moelis looks for candidates with strong academic records, prior finance experience (such as a previous investment banking internship), and a genuine interest in advisory work.
If you are from a non-target school, Moelis is one of the more accessible elite boutiques because of its larger headcount and broader school outreach. That said, you will still need to demonstrate strong technical preparation and networking skills to stand out.
Interview Process
Moelis’s interview process typically includes first-round interviews (by phone or on campus) followed by a Superday at one of the firm’s offices. The technical bar is high — be prepared for questions on DCF analysis, LBO models, enterprise value vs. equity value, valuation multiples, and the three financial statements.
Behavioral questions will cover the standard topics — “Walk me through your resume”, “Why Moelis?”, “What is your greatest weakness?”, and “Where do you see yourself in five years?”. For the “Why Moelis?” question, you should focus on the firm’s independent advisory model, its global platform, the entrepreneurial culture, and any specific industry group or deal that interests you.
How to Prepare
Start with a strong technical foundation. Our technical cheatsheet covers the most commonly tested concepts, and our guides on DCF analysis, LBO models, and merger models go deeper into the technical material you need to master.
Networking is also important. Reach out to current and former Moelis bankers, attend information sessions, and be proactive about building relationships. Moelis values candidates who show genuine interest in the firm and who have done their research. Check out our networking guide for more strategies.
Life as an Analyst at Moelis
Moelis analysts work in a fast-paced, deal-heavy environment. The firm’s broad platform means you may work on a variety of transaction types across different industries. Deal teams tend to be lean for an elite boutique, so analysts get meaningful responsibility and exposure to senior bankers and clients.
Hours are comparable to other elite boutiques and bulge bracket banks — expect long weeks, especially during live deals. The firm invests in analyst training, and the overall culture tends to be collaborative and entrepreneurial. For a broader look at the analyst experience, check out our guide on a day in the life of an investment banking analyst.
Moelis vs. Other Elite Boutiques
Here is how Moelis compares to other top advisory firms:
- Moelis vs. Evercore: Evercore is generally considered the top-ranked elite boutique for M&A advisory and has a larger revenue base. Moelis is also strong in M&A and has a notable restructuring practice. Evercore has more rigid industry group structures, while Moelis may offer more flexibility in terms of deal exposure.
- Moelis vs. Centerview: Centerview is smaller, more selective, and focused on the very largest transactions. Moelis has a broader platform with more industry teams and a larger analyst class. If you want maximum prestige and the smallest deal teams, Centerview may be the better fit; if you want a global advisory platform with more breadth, Moelis is strong.
- Moelis vs. PJT: PJT’s key strength is its market-leading restructuring practice. Moelis has a stronger M&A advisory platform and broader global coverage. Both firms offer strong restructuring capabilities, but PJT has the edge in pure restructuring while Moelis offers more diversified advisory exposure.
Ultimately, all of these firms are excellent platforms that will set you up well for long-term success in finance. The best choice depends on your personal preferences for firm size, culture, industry focus, and career goals. For a comprehensive look at how to prepare for any of these firms, check out our interview preparation guide.
Want Personalized Interview Coaching?
If you are serious about breaking into investment banking, the best thing you can do is work with someone who has been through the recruiting process and knows exactly what top banks are looking for. At Wall Street Mastermind, we have helped over 2,100 students land offers at every bulge bracket and elite boutique bank on Wall Street. Book a free strategy call to learn how we can help you prepare for your interviews and maximize your chances of landing the offer.
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