Advice for FIG BB SA

Navigating your FIG BB internship with an eye towards PE recruiting, especially in FIG-focused PE roles, requires a strategic approach. Here’s how you can optimize your summer experience:

1. Excel in Your Current Role: First and foremost, focus on excelling in your FIG internship. Demonstrate strong work ethic, attention to detail, and the ability to learn quickly. Success in your current role provides a solid foundation and favorable recommendations for future opportunities.

2. Network Internally: Utilize your internship to build relationships not only within your FIG group but also with colleagues in other departments who might provide insights or connections into the PE space. Networking can often open doors to opportunities and information that are not publicly available.

3. Understand the FIG Sector Deeply: Given that FIG can be a niche area within PE, develop a deep understanding of the sector. This includes knowing the key players, understanding the financial metrics specific to financial institutions, and following current trends and transactions in the market.

4. Prepare for PE Recruiting: Start preparing for PE interviews by practicing financial modeling, particularly LBO modeling which is crucial for PE interviews. Resources like Wall Street Oasis, Mergers & Inquisitions, and financial modeling courses can be very helpful.

5. Engage with Mentors and Alumni: Reach out to alumni from your school or program who have transitioned into PE. They can provide valuable insights, advice, and potentially even referrals.

6. Stay Informed About PE Recruiting Cycles: PE recruiting can be highly structured, especially on-cycle recruiting. Make sure you are aware of the timelines and prepare accordingly. Engaging with headhunters who specialize in PE placements can also provide a significant advantage.

7. Consider FIG PE Roles: As you are in a FIG group, also consider PE firms or roles that specialize in financial institutions. This can be a natural transition and your specific expertise could be highly valued.

By focusing on these areas, you can significantly enhance your chances of transitioning from a FIG internship at a BB to a PE role. Remember, the key is to excel in your current role while strategically preparing for the next steps in your career path.

Sources: Incoming SA in a BB FIG group (MS/GS/JPM), but long-term goals are PE. How should I approach the summer?, PE Recruiting From BB FIG, https://www.wallstreetoasis.com/forum/investment-banking/advice-for-undergrads-going-into-ib-interested-in-pe?customgpt=1, PE Recruiting During Internship, Non-target/diversity > MM SA > BB FT > MF PE