Vault’s Verdict

Solomon Partners is ideally looking for hardworking, intelligent, motivated, personable fast learners with strong technical knowledge. The firm’s interns get a high level of responsibility, and exposure to senior bankers and live deals. Meanwhile, full-time junior bankers have access to numerous internal programs for career development, including mentoring and networking opportunities with senior professionals. In general, there is a strong focus on career progression at the firm.

Solomon Partners’ culture is highly collegial, and while hours can be long and the work can be rigorous, seniors respect juniors’ time and care about their work/life balance. A hybrid work model (three days in the office, two WFH days) is also greatly appreciated. As for compensation, it is very generous and competitive compared to peer firms. Salaries and bonuses are paid in cash, and benefits are constantly being assessed and improved. Recently, the firm improved its 401(k) offering and meal stipend.

Although the firm has historically struggled to recruit and retain diverse candidates, it has recently made a big push to improve in this area. And with respect to business outlook, Solomon Partners is a growing firm that continues to expand across various industries. It recently added new offices in Florida and Chicago, and has made many key MD hires.

Hiring Process

“First, there are networking calls where you meet the recruitment team. Next is a first-round interview. Then there’s a Super day. Ideally looking for hardworking, earnest, social individuals who are capable of speaking with clients early on. Commitment to integrity and a buy-in to the firm’s culture are paramount.”

“Ideal candidate has strong technical knowledge and is personable.”

“Looking for hardworking, smart candidates with positive attitudes. Communication skills are also important.”

“Ideal candidate is self-driven, motivated, entrepreneurial, intelligent, and a fast learner.”

Interview Questions

“Walk me through how the three statements change if 'x' change is made. Walk me through a DCF. Would 'x' or 'y' have a bigger impact on LFCF?”

“Let's say there are two businesses in the same industry, with the same number of customers, same revenue, and same EBITDA. One is trading at an 8x multiple and one was trading at a 10x multiple. What are some reasons this might be?”

“Mix of behaviorals, technicals, and brainteasers.”

“Standard banking interview questions—financial literacy, case studies, etc.”

Intern Experience

“High level of responsibility and exposure to senior bankers. Reasonable hours and thoughtful work requested. No material bad aspects.”

“Internship experience introduced us to individuals across the entire bank and gave great insight into what the actual job would be like. Interns have real responsibilities and contributions.”

“Significant responsibility, live deal exposure, access to senior bankers, but inconsistent staffings across groups.”

“High degree of communication with upper level management, often interacting with C-suite and MDs on a regular basis.”

Career Development

“Unlike many other firms, SP has numerous internal programs for career development. We have mentoring sessions with high-level leadership and opportunities to network with individuals at all levels. It is clear that the firm wants to retain people and develop them.”

“Phenomenal ability to have ownership of crucial workstreams, excellent mentorship (formal and informal), industry groups often collaborate, incoming team members have the opportunity for exposure to areas they are interested in. Firm is rapidly growing—entrepreneurial culture yet still get the tight-knit community feel. Only downside is the narrow geographic footprint relative to larger institutions.”

“The firm has invested a lot in development. The new program is very well documented, and they have done a good job training us and preparing us for the next phase. However, we have yet to see a wave of MD promotes, so we still need some time to see how effective the program is.”

“There is a lot of career development scheduled quarterly—mentor meetings, meetings with VPs/associates/analysts, diversity meetings, trainings for each level. Best part is the high level of focus on career progression.”

Quality of Life

“I’ve worked at a few banks and Solomon has by far the best people. The firm really takes culture seriously and invests behind it. Highly collegial environment. Seniors respect junior team members and encourage them to step up and have a point of view. Junior bankers have opportunities to do meaningful work so long as they step up and deliver. Progressive work-from-home flexibility.”

“The firm clearly cares about work/life balance and a high quality of life. While the work is rigorous and time intensive, there is still a sense of acknowledging balance and having a better culture than other banks.”

“You can't say enough about this firm's culture. I took two weeks of PTO my first year as an analyst. This was not only allowed but encouraged by the firm. Hours are reasonable—superiors are always grateful for our late nights and go out of their way to not create unnecessary busywork. Hybrid work model: in office Tuesday through Thursday, WFH Monday and Friday. No -face time—you’re free to head out of the office whenever you'd like so long as you've finished collaborative efforts for the day. From a quality of life perspective, there's not one single thing I can say negatively.”

“The managing directors are really good about not giving unnecessary work to keep us busy. The firm is continuing the hybrid work environment with three days a week in the office.”

Salary and Benefits

“Comp has always been top tier and all cash. Firm will pay up for top performers. Partnership structure that is very lucrative if you make partner.”

“Compensation is all cash and has remained very competitive versus peers throughout the years. Benefits are constantly being assessed and improved—recent changes include introducing a 401(k) match, adding flexibility to exercise reimbursement options, and increasing the late-night meal expense cap to $35.”

“The firm pays competitively compared to other banks on the Street. The gym and meal stipends are in line, and the hybrid work policy is a huge benefit.”

“Highly competitive compensation (at or above bulge bracket pay) while offering an incredible work/life balance that no larger institution can match. The firm offers attractive packages to those who choose to stay on for an extended period. Wholeheartedly satisfied.”

Wellness Efforts

“First and foremost is a pervasive culture that actually cares about its people from top to bottom. If something was troubling me in life, I could directly speak with senior bankers who would do anything needed to ease the trouble. HR is incredibly responsive and offers outlets to directly communicate with any extenuating circumstances. Firm offers a generous package to cover gym or other wellness-related activities outside of work. Firm has various annual outings and group events which are work-free.”

“Gym reimbursement policy to promote wellness. Healthy, high-quality snacks provided in office.”

“The firm gives a gym stipend but does not emphasize wellness beyond that.”

“Flexible reimbursement for wellness programs. Changed the Uber policy to support bankers who felt unsafe taking the subway earlier than was originally covered.”

Diversity and ESG Initiatives

“Increased efforts to increase D&I. Zero tolerance for discriminatory behavior.”

“The firm has historically struggled to recruit and retain diverse candidates but has recently made a big push to improve it.”

“Not the most diverse workplace, although they are making efforts to improve that.”

“The firm has been growing its diversity. It created a D&I counsel and is really taking it seriously. The firm does not really acknowledge any aspects of ESG. They have one day for volunteering, but it is hard to participate in with work.”

Business Outlook

“Growing firm continues to expand across industries with new offices recently established in Florida and Chicago.”

“Great leadership. Quickly building coverage with key hires from other boutiques and bulge firms. Really exciting mix of top-tier talent and wide-open coverage areas for junior bankers to grow in to. Mandate to grow and investing in our people.”

“Strong business outlook. Lots of MD hiring and investment in the future. Outlook is still positive despite economic downturn.”

“I am fully confident this firm will dramatically expand its footprint over the next decade. We've established new verticals and continually hired new MDs over my tenure here. We've opened a Chicago office, which is thriving. Analyst class sizes are nearly doubling year over year over year. Especially as we head into a troubled market, our firm is positioned to thrive and sees this as an opportunity to further propel our organic growth. While bulge bracket banks are seeing severe hits to IBD revenue, our firm is uniquely positioned to thrive.”