PubFin vs Corp Banking - Salary/Bonus/Hours
At the (post-MBA) Associate+ levels - How would you rank BB PubFin vs BB Corp Banking in terms of salary/bonus, as well as hours worked. Are they equal?
What if I also added ECM and DCM to the mix (at both EB and BB)? <-- does this change things?
Focusing on just BBs and ignoring the exact firm, group performance, individual performance, etc. then Comp - ECM/DCM > Public Finance > Corp Banking and WLB would be reverse (i.e. Corp banking has the best WLB and ECM/DCM has the worst). All of these are among the best balance of pay and wlb if you want to be in banking for the duration of your career.
A couple notes below:
Thank you so much for your in-depth insight!
Do you know which firms are advisory heavy?
Also, does PubFin exist outside the BBs (ie within any of the EBs like PWP, EVR or Moelis)?
There are a few select EB pubfin firms, and also not all BBs have a strong pubfin group either (see Citi collapsing it, UBS not being a big player, etc.). For EB's, there is already some good information available on this site, but from what I recall:
None of the EBs have public finance groups (like Moelis, Lazard, or Evercore). It's a debt underwriting business, so only banks that have a large balance sheet are active in the business. Most EBs focus on M&A advisory.
In addition to the list someone else wrote above, these firms also have public finance:
1) All the BBs likely do some advisory. Its really is team / sector dependent. In general NFP HC does the most advisory work, followed by P3 teams. Some Power, Transpo, and Higher Ed teams also do a their fair share of advisory work, while others do none. You can really only figure this out by being in the space / networking. Off the top of my head, in the NFP HC space the GS team does the most followed by Jefferies (ex-Citi team) and RBC. In the P3 world Barclays (both the og team + the Citi team that joined) do the most.
2) No EBs have major PubFin teams. You're best off going the BB route if possible.
Thoughts on where non-modeling relationship heavy financial sponsors group would fall? They’re still a coverage group at the end of the day but seem to be quite a bit lighter than the traditional healthcare / technology side.
Mollitia et sunt sed consequatur eos. Quo numquam fugiat eligendi saepe omnis. Perferendis voluptatem ex commodi non dolor vel.
Atque adipisci sit aliquam praesentium ex ipsa occaecati. Quasi et excepturi eaque aliquid aliquid explicabo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...