Municipal Securities/ Public Finance
(Senior Monkey, 74
Points)
on 1/24/07 at 5:50pm
Any thoughts on the Municipal Securities/ Public Finance market?
To my knowledge, Citi and UBS lead the league tables, in reference to new issues and refunds. I'm quite new to IB. Typically, I don't hear much about this side of the industry when talking with colleagues. I welcome any thoughts.
Thanks.





If you like it that's fine,
If you like it that's fine, but from what I understand it's a CLM unless you decide you want go to bschool
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Re: If you like it that's fine,
If you like it that's fine, but from what I understand it's a CLM unless you decide you want go to bschool
Thanks for your post.
CLM? (Please excuse my ignorance.) I would definitely include an MBA in my long term aspirations.
Any notes on interview prep? Currently, I am getting up to speed on Fixed Income/ Bond Math/ etc.
Also, are you familiar with Wall Street Prep? They have a Public Finance component that seems attractive.
Give it a try...
Career Limiting Move.
Career Limiting Move.
General Public Finance
General Public Finance is pretty Career Limiting...don't get me wrong, it is still investment banking and still pays the same, the problem is that you don't get to do the same hardcore accounting analysis that the IBD guys get. That being said if you can get into an industry group instead of a regional group (industry group would be Public Power, Transportation/Aviation or Not for profit Healthcare as opposed to "the East Group") it is a much better experience. In those groups it is much more project finance oriented dealing with more corporate like clients. Also, the industry groups actually provide some pretty good exit opportunities because specific expertise that you gain. General Public Finance is all the same...how many school district deals do you have to do before you know what's going on. On a good note the hours are slightly better than IBD counterparts.
What banks are you talking to?
agree with what everyone has
agree with what everyone has said. you get good experience but it isnt in the same caliber as what the corp fin guys will get since you get limited accounting experience. not to mention municipalities only have the debt side of the capital structure. a plus is that interest rate derivatives are becoming more popular so you will get exposure to this area as well.