GS FIG: any info, exit opps?

scotttwibell:

How big is the group overall? I've never heard of 15 summer analysts in any group. That's ridiculous.

scotttwibell:

How big is the group overall? I've never heard of 15 summer analysts in any group. That's ridiculous.

just search on linkedin

don't do FIG if you want to move into PE

^one of the main managing MD's of TPG specifically told me MS & GS FIG are one of the groups he looks at when hiring. May not be the best route, but it's a route to PE if it has to be.

for someone who has a guaranteed spot in GS FIG, you know very little about everything

pershingbill:

Hi ya'll. So, let me cut right to the chase. I have a pretty good shot of being offered GS FIG for FT starting next year (don't want to go into specifics, trust me I more or less have it). Does anyone know how GS FIG places at the top PE firms and HF firms? A placement list similar to the one circulating the site for Blackstone would be really helpful in the decision process. Thanks in advanced!

Oh child... if you end up in GS FIG there is a world of hurt waiting for you. A reckoning of straight-up biblical proportions.

Just keep your fucking mouth shut when you get there because it's not doing you any favors. You shouldn't be worried about exit ops before youve even stepped onto the desk, you should worry about doing the best job you can and learning as much as possible over the next ~2 years. The exit ops will come once you've discovered the difference between your dick and your asshole.

But look - high finance is an apprenticeship business. It's extremely important that you find mentors that take an interest in you/show you the ropes. That's never going to happen if you're "too good for them" because your dumb ass thinks you're putting in two years and moving on. Knowledge matters. Without it, you will die a quick and brutal death once you've weaseled your way too far up the ladder.

APAE:

NYCbandar:

pershingbill:

Hi ya'll. So, let me cut right to the chase. I have a pretty good shot of being offered GS FIG for FT starting next year (don't want to go into specifics, trust me I more or less have it). Does anyone know how GS FIG places at the top PE firms and HF firms? A placement list similar to the one circulating the site for Blackstone would be really helpful in the decision process. Thanks in advanced!

Oh child... if you end up in GS FIG there is a world of hurt waiting for you. A reckoning of straight-up biblical proportions.

Just keep your fucking mouth shut when you get there because it's not doing you any favors. You shouldn't be worried about exit ops before youve even stepped onto the desk, you should worry about doing the best job you can and learning as much as possible over the next ~2 years. The exit ops will come once you've discovered the difference between your dick and your asshole.

But look - high finance is an apprenticeship business. It's extremely important that you find mentors that take an interest in you/show you the ropes. That's never going to happen if you're "too good for them" because your dumb ass thinks you're putting in two years and moving on. Knowledge matters. Without it, you will die a quick and brutal death once you've weaseled your way too far up the ladder.

Your rants are growing tiresome. I like to offer informed, well-reasoned advice on this site rather than scathing vitriol (and believe me, I used to do more of the latter and I regret it). I remember a time when more people did the former rather than the latter, and moreover, I firmly believe that's how this site was intended to be used.

It's a bit concerning to me to see you come on so many posts and get some sort of twisted high off of banging out a 3-6 paragraph epithet torching whatever soul was unlucky enough to say something to provoke your wrath. Please find a way to help people rather than harm them; build them up, don't break them down. Perhaps you are, in your own way, trying to motivate them to better things, but from how many times I've witnessed you do this, I don't get that impression.

With that out of the way, let me preface my answer to the original question with a disclaimer that FIG in general often pigeonholes people for exit opportunities (similar to the way Real Estate does). i.e. JPM FIG is always one of the bank's biggest revenue generators, yet exits for them are so limited compared to M&A, Sponsors, or Lev Fin there. Same with BAML FIG, CS FIG, etc. You see them at places like Lightyear, Flexpoint Ford, Corsair, Crestview, Thoma Bravo, Genstar, etc. It's infrequent that you'll see them be at a megafund, because many megafunds don't like FIG because of the specialized skill-set it requires (and there are so many subsectors within it: banks, insurance [life, non-life P&C], specialty finance, asset management [traditional, alternative], financial technology) and the fact that they'd have to hire people who specialize purely in that (which is a concern at the senior level, no one cares about the guy making $450k before he leaves for his MBA, the concern is for the guy getting carry).

For some reason, GS FIG manages to escape that stigma. Part of it probably has to do with the partners in the group, the legends who first founded the industry groups at GS back in the day. Part of it probably has to do with the fact that it's historically traded places with TMT (and its legacy group before the name change, CME) as the biggest source of revenue within IBD (hence amazing dealflow, hence a stronger experience for analysts, hence strong resumes during recruiting, hence good exits).

So in short, exits that I know of within the past year, this year, or first-years who will leave next year:
- JC Flowers
- Apple corp. dev.
- TPG San Fran
- FFL
- Warburg Pincus (their TMT vertical)
- Flexpoint Ford

Sorry it's limited, it's a big analyst class (~20 per year) but I haven't been as on top of talking to people as I used to be. I may be able to come back with more info on this later. Long story short, it's easy to see that the group places very well, avoids the megafund stigma, and lets you explore interests outside the industry.

Here's a novel solution for you - if my posts bother you, you could go ahead and just not read them.

Don't want to blow up this thread with some kind of awkward digital back and forth sissy slap fight between you and I though, if you feel strongly that you have something to say feel free to PM me.

Pretty typical I've noticed. One guy gets a mere two years removed from his IB stint and starts dishing out the condescending advice to prospective bankers. Maybe it''s because he doesn't get any respect in the real-world so he comes to WSO to get worshipped by some naive, wide-eyed college kid?

Can't speak to HF placement, but placement into PE (and not just FIG PE) is top of street.

That being said, it's also known to be among the worst sweat shops on wall street.

Wouldn't it be better to work a lot of hours and get the most deal exposure though? I understand people want to have a life, but I feel like working in a "sweatshop" would be really helpful for one's future career, especially if it's only for 2 years. Then again, if it's a lot of menial work and pitches, I could see that being brutal.

Very strong reputation. Incredible placement. Every mf / top mm doing both fig and non-fig. Almost “guaranteed” spots at certain very attractive places. Anyone who says otherwise has literally no idea what they are talking about. Also Lev Fin does not compare.

One of the best - if not the best - placing groups on the street. The reason why I think it is the best is because it has consistently placed analysts into both top HF and top PE. The optionality is incredible.

are you retarded?

guessing you just got placed there.

get ready to get rocked. they are one of the best FIG groups out there and place very well.

I am interested in this too. Any info on dealflow, culture, exit opps, etc. would be greatly appreciated. Would also appreciate comparisons to other Goldman groups along these dimensions.

Highly doubt the technicals would be FIG specific unless you had any prior FIG experience.

Be ready to show that you are a hard worker though. These guys work insane hours...

heard the figs get the dates

Following up on your post it would be really interesting to know what kind of question they asked.

Thanks in advance

GS FIG doesn't stack up to MS M&A, MS FIG is also strong, but this is all relatively irrelevant. If you're in any of these groups at any of the three banks you mention, exit opportunities will be comparable. Headhunters will call. It's that simple.

bump

Recent troubles for GS? Maybe in the sense of PR but their investment banking services have not been damaged. They're still globally #1 M&A advisor up to this point this year (3Q)

I would rate GS FIG on the same level as MS M&A

Top of the street, ridiculous dealflow

Would take it over any group at JPM as well

GS FIG...terrible hours, pretty much nontransferable skillset, basically my last choice for industry groups at GS. But yeah, in the FIG space they are still one of the best; I doubt the PR disaster they've had would change that.

I would definitely take MS M&A over that

If only you saw the exit ops

GS FIG exit opps tend to be better and broader than those at MS FIG and JPM FIG (which are often limited to FIG-focused opportunities). According to hearsay, culture at GS FIG and JPM FIG is comparable, but culture at MS FIG is terrible.

I'd put GS FIG on par with MS M&A and above JPM M&A.

why don't you hire a GS analyst from Equity research, FICC, Equities, Finance division

lots of qualified people with outstanding skills/resumees

why hire outsiders?

A lateral would already have investment banking experience and we believe that he/she would be more able to hit the ground running so to speak.

Bumping up the post for the weekday crowd. Have received a lot of great responses so far, and wanted to make sure that everyone was aware of the opportunity. However, it is getting late in the process, so if you are interested, I'd recommend that you send a private message to me as soon as possible. We are currently looking for analysts to fill multiple positions.

This isn't the position in Chicago, is it? If so...damn, you guys have been trying to fill that slot for a long time.

No it is for New York

This is related to the H1B deal, ain't it?

well do you know anything about banks? thats the first question. You should know how to examine banks and what to look for in those that are well-capitalized, under-capitalized, etc. Know about TCE / TA as that it is metric that is popular (especially for those taking TARP). Of course, the interview may be also just as much fit as it is technical.

Also be aware of what types of products FIG groups offer to banks. Banking, M&A advisory, stock buybacks, research, etc. The FIG group is comprised of groups from all over the bank including sales & trading, research, banking, Asset Management, etc.

Know how banks, insurance companies etc make money, what their statements look like. Know relevant multiples for valuation as well as things like Tier I capital ratio etc.

as far as I know, in first round telephone interview you will be asked to walk through your resume, some brain teasers, some programming, some elementary finance - expect about an hour of conversation. This is "FIG associate with no experience" specific info.

Have you used the search function? Plenty of topics on the group that are somewhat recent and still applicable...

Great exit ops in spite of it being FIG, don't know much about hours and culture (assuming huge hours)

FIG has a very bad reputation in terms of hours at every bank. You'll see a lot of deals but exit opps are somewhat limited because FIG but still great.

GS FIG is the one FIG group on the street with a solid track record of putting analyst into non-FIG buyside roles. That said, still pigeon-holing to an extent. As mentioned, long hours and good dealflow.

I usually advise against FIG unless it is at GS/JPM/MS. Great group.

Hours will depend on vertical (one works harder than the other two).

Recent exits include tpg, bain, apollo, apple/disney corp dev. They are broad and not limiting at all as you can see. Places lights out into top hedge funds as well. Top GS group.

good culture, especially now that many of the bad mid-level guys have been let go over the last few years. exits dont get better; if you want something, youll get the opportunity from this group (FIG or not); whether you get the buyside job (or whatever job) or not depends on how strong of a candidate you are, and that will not improve by you going to a "more prestegious" group like GS TMT

It's a bulge bracket FIG group, it'll do all kinds of deals - debt, equity, M&A, spin-offs, joint ventures, hostile defenses, etc. Best thing for you is have a list of good questions to ask your contact. It's a huge group, first off, and I hear that turnover at the analyst ranks is one of the worst.

Well I thought that since its FIG, maybe it doesn't do as much IPOs for example

They just did the Realogy IPO.

So, are most IPOs done in the fin tech / spec fin subgroup of FIG?

Um.. you don't have an offer from there. Stop asking questions like "GS FIG to HF" and questions like above. IPOs are not done by just specific subgroups, it depends on the client and who is trying to IPO. When you actually have an offer in hand, feel free to ask these questions. But for now, please refrain.