For full-time, yes it does. Working in an industry group will give you access to exit ops in that industry and related industries. Networking is a very important part of this, and you will have plenty of opportunities to network. However, a top analyst in a top group at a well-known bank will undoubtedly have his or her pick of post-analyst jobs (assuming they have the interviewing skills/fit the culture). Anyone who is good at what they do and can show that they have what it takes to do the job will get that job, regardless of the group.
It's also important to remember that you will be in this group for two years. If you get placed with a group that you absolutely despise, this will probably have a negative affect on your time at that firm. It's important to target industries that you're interested in, learn about them, and show the people interviewing you that you would fit well with them.
It is not as important for internships, mostly because you're trying to gain some experience and learn the trade, as well as add to your resume. You can always apply for a different group come full-time recruiting.
Relevant Discussions on Wall Street Oasis:
Additional Resources:
- Does It Matter: How will the firm I start out at affect my career?
- Search WSO for: "Group selection"
- Relevant WSO Services: Wall Street Mentors' Career Coaching and Mock Interviews
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