FSG (Barclays/CS) Vs. GS Classic
Feel free to ms this post as I know these types of posts are inane to some degree, but any insight is appreciated.
How would a Barclays/CS FSG compare to a GS Classic group, purely from an exit opps. perspective? It seems like GS TMT/FIG would place better into MF PE compared to Barclays/CS FSG, but what about GS HC/CR/Industrials? Would GS HC/CR/Industrials still place better than Barclays/CS FSG? At that point, is it more about the candidate themselves compared to the minutia of perceived "group prestige"?
Assume that OP has offers from Barclays FSG, CS FSG, and GS HC/CR/Industrials. Also, assume that OP doesn't care about his life/experience for the next two years and only cares about MF PE placement after two years (lol).
First off, congrats! You've got two awesome offers on the table. To offer up one data point, I was in your position (with those exact offers) and chose CS FSG. I knew I wanted to do PE, and the exits were more or less the same (very good for both), so it really came down to culture and interest in the actual work. I found the modeling and execution in leveraged finance much more enjoyable than the constant pitching of a coverage group. It's also an ideal seat for private equity in the sense that your deals are literally LBOs, and if you're acting as both the lead financer and advisor on a deal, that experience is second to none in the context of beefing up your resume for recruiting. Lastly, even setting aside the comparative WLB benefits of FSG, the broader WLB at a non-GS/JPM bank is also now materially better given the new hybrid model of only having to be in the office three days a week. Being in the office five days a week absolutely blows, and trust me those few hours of extra sleep per week are well worth it in this job.
Good luck with it all!
How's the WFH setup like at CS?
OP here -
Thanks for the insight. I'm thinking along the same lines regarding the WLB benefits on a FSG group, especially at a non-GS/JPM bank. From networking/online research, the modeling and execution in FSG sound much more attractive than coverage, especially considering the constant pitching. And the resume/recruiting benefits are an obvious plus.
Let's assume I don't want to take an offer from GS HC/CR/Industrials because of the aforementioned reasons. Do you think that there are any notable differences between Barclays FSG & CS FSG? After reading through a couple of posts on this forum, it sounds like CS FSG has a little more "prestige" or "consistent praise from interns" on here. Do you think there is a particular reason for that? I know you're at CS FSG, but I'd love to hear your thoughts on CS FSG vs. Barclays FSG.
Through networking, it seems like both groups have great people and are modeling intensive, so I'm trying to use other proxies to make my decision here.
Appreciate the help!
I’d go GS TMT/FIG > CS FSG > GS Classics > Barclays FSG
For exits: GSTMT/FIG > CS FSG >= GS Classic
For culture CS FSG > GS
If I were in your shoes I'd take CS FSG over GS Classic, but not over TMT or FIG no matter how bad their culture is.
OP Here -
Let's assume that I'm more interested in FSG than traditional coverage because of the modeling/execution focus and lack of pitching. That would rule out the GS HC/CR/Industrials offer.
What are your thoughts on CS FSG vs. Barclays FSG? Any notable differences? Consistently better exits? Or at that point, does it come down to the candidate themselves compared to the minutia of perceived "group prestige"?
Thanks!
Congrats on Barclays FSG
Thank you!
you are a twat. congrats on being so insecure that you felt the need to comment this.
Disagree with everything written. I’m assuming this is CS LA or Barclays LA because you mention joining sponsors directly. If you want MF PE you will have to mainly recruit for NYC offices. The only mfs in LA are Oaktree, Ares and LGP( Apollo does have a small office too). So during on cycle you would most likely need to fly to NYC to interview with the majority of the other funds like KKR, BX, Caryle, WP, CVC, Apollo, CD&R etc… purely on a logistics basis this doesn’t make much sense. I doubt they would generously give you the flexibility to leave your desk and fly to NY for a week to interview. Now considering you have an offer at GS in a top coverage group the comparison is even more silly. Every GS coverage group is literally #1/#2 in league tables. I also assure you HC, Consumer and Industrials are just as sexy for exits as FIG and TMT are. I would check LinkedIn for proof of this. I hate GS and turned down my classic offer there for an EB, but I will admit they are the gold standard in this industry and miles ahead of any FSG group for exits.
Not quite true - Barclays LA FSG is 2 and out, they really want you to place but the MDs have better connections in LA/SF ofc
Dude you don’t get it because you’re an intern that’s never been through on cycle recruiting. SF is far from LA and so is NYC. In order to interview in person at many different firms all at random hours of the day pretty much back to back you will need to spend 3days to a week in the city minimum. Realistically a week as you will have to fly in a couple of days in advance as on cycle is unpredictable and you should haul ass to nyc as soon as headhunters start sending feelers. I doubt Barc is just chill with their analysts jetting off across the country for a week to interview at Pe firms. Same applies to cs.
OP
If the GS HC/CR/Industrials offer was in SF/LA, would you still have the same opinion?
Well GS pretty much only has healthcare in LA and healthcare is a top group so I would definitely take it. It’s clear you have an offer at Barclays from your past comments and I personally don’t think Barclays FSG is in the same realm as GS Healthcare. Maybe if this was Moelis LA or CS FSG this would be a dif story. Every group at GS is better than Barclays objectively speaking. I don’t think this decision should be that difficult.
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