FIG Exit Options
First, before anyone says it, "FIG" is too short to use the search function.
I am hoping to get some info on exit options after working in FIG at an I-bank. I have some personal contacts at a top MM bank, and I will pursue a FT position with this bank next year. However, all my contacts at this bank work in FIG, and I assume that I will probably get placed in that group if given a FT offer.
I realize FIG is a different beast than other coverage groups because valuation relies on equity multiples. Is it common for FIG bankers to move on to different coverage groups, or vice versa? Does working in FIG put you at a disadvantage for PE or HF recruiting down the road, or are there firms that specifically focus on financial institutions? If so, who are they?
Basically, what do FIG bankers typically do for the rest of their career? Are they career bankers? Do they move on to corporate finance? Are PE and HF jobs realistic, and if so, do you have to go to specialized firms?
Any info is appreciated, especially from bankers that have experience in FIG.
I don't have any answers for you, but fyi you can search for short terms using google by typing the term then site:wallstreetoasis.com
http://www.google.com/search?q=FIG+site:wallstreetoasis.com&ie=UTF-8&oe…
Looking through the first few pages though, I don't think you would have found the answer anyway.
also would like some good information regarding this...
I wondered this too
bump....I would like to know as well
I work in a FIG group so here are my views. It certainly is more narrow but then again the fig universe is really huge in comparison to most other coverage teams and it is a bit more varied in terms of what you do. Can you move - yes. People have joined our group from non fig backgrounds (junior-mid level) since I have been here and although nobody has gone the opposite direction recently I see no reason why the reverse wouldn't hold true if you wanted it to, particularly at analyst and associate level.
From what I understand there is currently quite a good deal of interest in fig backgrounds for hedge funds and PE, though not sure if that has historically been the case. As for companies specialising in fig, yes they certainly do exist, look on google. JC Flowers is probably the largest PE fund focused purely on financial institutions that I can think of off the top of my mind.
Nonetheless if your sole goal in life is to get into a PE fund then I wouldn't join a fig group for pretty obvious reasons.
i will be starting full-time in FIG in July. A couple analyst that I talked to moved from FIG to LevFin after a year, so it can be done. I'm not sure if thats just the bank I am going to or common across the board.
i will be starting in FIG in Hong Kong in July. From last summer I know quite a few people who've transferred out of FIG into other things, so it would seem exit options are existent.
To revive this thread a little bit since I'm interested as well.
In particular: how hard is it to move from FIG into TMT/Industrual/Consumer/Healthcare after say 1 year, within the same bank? (assuming good first year performance)
aside from JC Flowers, is it possible to move into other PE firms? like Carlyle, KKR, Blackstone etc.?
The exit opportunities as a junior FIG banker are basically the same as for other groups. You will probably not be the first person to be called when they are looking to add someone to a VC funds, but I have seen guys from FIG go to Large cap PEs, hedge funds and, most recently, fin tech start-ups.
Thanks - do you know if PE/HF recruiters view FIG analysts differently than someone from say TMT/Consumer? Wondering if FIG analysts have to sort of justify themselves in interviews.
I don't think they have to justify themselves. What you'll have to prove is that you can model "normal" companies. When doing fig you're usually not that exposed to traditional lbo models for example. So you'll have some ground to cover there.
Seen FIG people secure solid buyside placement, in both FIG-specific roles and also generalist roles or even roles in a complete other sector (e.g. TMT). The other option is usually corp dev at a FIG company (usually a client that they've worked with or their firm advises). Also something to consider is most FIG groups are pretty receptive to their analysts moving to the buyside, since there's usually a vertical in FIG dedicated to covering private equity firms and asset managers/hedge funds.
Thanks guys, very helpful.
Could you maybe also commend on my other question which is how easy the transition is from FIG (after a year) to a "normal" coverage group within the same bank?
Bump, bump, bump it up.
Also would like to know how easy the transition is from say M&A FIG to LevFin/coverage after a year within the same bank.
IB FIG Exit Opportunities (Originally Posted: 12/28/2007)
Will starting as an analyst in an M&A group focusing on FIG whose clients are mainly hedge funds, asset managers and PE firms provide above average buy-side exit opportunities when compared to other groups? To me, it seems like having specific working knowledge of the industry coupled with the opportunity of meeting executives from a range of buy-side firms would set one up very well to transition after a few years as an analyst. Then again, I'm just a college student so what do I know.
No
Do you work in FIG? I noticed you asked a question about HF recruiting, so were you answering my question based on personal experience?
I won't disclose my group info. However, I can tell you that working in FIG does not provide any advantage when it comes to HF recruiting.
Understood, I guess I will have to rely on connections instead. Of course, in a few years who knows if that's the route I will even want to take.
FIG exits (Originally Posted: 04/29/2007)
There has been several discussion about how FIG is horrible for exit opportunities. Does anyone who works in FIG or knows people who work in FIG see that as being true? I'm going to be going through group placement and all this talk about the apocalypse after my 2 yrs are up is getting to me. Any response will be appreciated. THanks!
There was one analyst in my group who went onto J.C. Flowers. The others stayed for a third year. Granted the guy was a "rock star," but it's possible. My theory is that if you perform well, you should be able to create your own "exits", regardless of which group you're in.
I've got a friend who went to KKR and another to Maverick. It's up to you.
any other opinions?
Exit Opportunities - FIG group (Originally Posted: 02/26/2009)
What are the exit opportunities after working for a FIG MM investment bank? Out of PE/VC/HF, which are easiest to go to?
If you keep posting the same question over and over and over again, your exit opps will increase exponentially. Seriously - try it.
/sarcasm
Thanks for the advice! At least they did teach you how to be sarcastic at your Ivy league school, congrats!
Judging by your other posts elsewhere, you should probably try to heed your own advice and humble yourself, rather than just going around criticizing everyone's posts, even if it really makes you feel that much better about yourself.
He has a point though - you have basically posted this same topic three-four different times, and it's very much unlikely that this one will yield any different success than the prior ones.
I understand, and he would have conveyed his point just as successfully had he said it like you did rather than choosing to use a sarcastic tone. I apologize for the redundant topics.
unemployment is the easiest
I asked someone at a BB PE firm to compare their exit ops to a BB FIG and they said that for FIG, you can go into PE, if that firm concentrates on acquisition of financial institutions -- otherwise, it's possible, but will be harder.
That's probably your best chance.
And it will obviously be harder coming from SO.
Babo, here's a little bit of info I got from an Analyst during my FT interviews (I was comfortable with the Analyst and kept in contact with him post-offer). He basically said it's very, very difficult to get into PE but it can be done. If you have some good experience on your resume (which you will - SO and FIG in general is hot right now) and some good stats (good school, good GPA, good scores), you'll have a shot at some places, including top PE shops with FI groups. But you will need to utilize your MD's at SO, and make sure you get on it fairly early.
JimbrowngoU, thanks for the info. I'll definitely keep that in mind as I move forward.
FIG groups (Originally Posted: 07/05/2012)
I might get an offer at a BB for their FIG group. Is this too narrow for potential future recruiting?
You're almost definitely a troll, but I'll bite because to some extent, I'm in a similar situation. FIG exits are great. You should ask the analysts about this, not WSO, or is it actually true that Goldman is really stuffy when it comes to leaving the firm? In my case, everyone, including the senior guys, are very open about exiting.
You won't always be the FIG guy. People switch industries all the time when they move over, so be sure to make it known that you'd like to do something else. FIG is a great group (in terms of exits), but you're going to get worked. Enjoy.
And delete this thread. You know HR is all over these kinds of sites, right?
First, thanks for the info. Second, I am not a troll. Third, do you really think that HR can identify me based on 1 post?
I've heard that GS FIG places extremely well and even better than other GS groups, but as a whole at other banks there's definitely a huge negative bias against FIG analysts from headhunters as it is a different skillset and it is often seen as a less desirable group among analysts for group placement
Are figs narrow? I thought they were a good sized fruit?
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