How does Capital Markets/FIG at upper BBs and EBs compare to M&A and other top groups at less prestigious banks like lower BBs and MM firms in terms of PE/HF exit opps? I would assume bank name would be more prestigious for business school and for F500 companies outside high finance but input on that is welcomed as well.
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If your goal is PE/HF, go for M&A, coverage, or Lev Fin groups that do modeling
Bump for more imput
Lol @ putting FIG in the same category as ECM/DCM when talking about exit opps
FIG is a coverage group just like any other industry coverage group. Just like an industrials or healthcare banker, you will be doing modeling, decks, comps, etc. Sure, some of the verticals within FIG (like depository institutions, or insurance) will be a different type of modeling/valuation than your standard EV/EBITDA, FCF-centric businesses, but it is still your "traditional" banking nonetheless.
ECM/DCM generally do not place into PE/HF. This is because the nature of the work in ECM/DCM is obviously not as relevant to the work you'll be doing at a PE or HF compared to industry coverage/M&A groups. If you did go into PE from one of those groups, it'd probably be for a similar capital markets-type role.
FIG, on the other hand, will place into PE/HF, particularly at top FIG shops like Goldman. The range of PE/HFs will be a little more limited compared to industrials, but even still I know people who have gone generalist PE from FIG. It might require a step down in terms of size (i.e. lower-tier FIG group at a BB might have to look at MM shops for generalist PE), but absolutely possible.
In terms of what would be better for MBA or F500, I probably am not qualified to answer that. General logic would tend to agree with your thinking, though.
Found a fig banker.
He’s not wrong
BB Banks: Groups vs Brands (Originally Posted: 10/02/2014)
dsaf
This is assuming that you have some kind of input on the group you'll be placed in due to contacts at the bank.
It'll be mostly the brand name of the bank rather than the group that will get you the interview, but it's the type of work that you'll be doing that will impress people. If you're trying to position yourself for a boutique, I would aim for either an industry or M&A. Most of these groups are great, but I might put JPM ECM and GS DCM on a lower level simply based on the type of work you'll be doing rather than the group themselves.
Thanks for the input.
So in your opinion, would spending my junior summer at GS / MS / JPM in a DCM / ECM role position me better for FT recruiting at an EB versus a place like Citi / UBS / Deustche in an Industry role? Or the other way around?
My goal at the moment is to land a FT position at an EB.
Brand name of the bank carries far more weight than the group.
Disagree completely. Bank name means nothing if you are in a terrible group. i.e. your JPM / GS choices are not great, and I would take anything else listed over both of them (obviously HC at JPM is top however)
Top Group at lower bank > Low Group at a top bank
Very simple. Don't be a prestige whore and go to GS to DCM there.. You will 100% regret that decision very soon, especially since you have other offers that are top groups at their respective banks (Citi M&A, UBS LF, JPM HC)
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