Public Finance SA 2025: Stats and Advice

Finished recruiting for public finance and figured I would make a post since there's not much information about the industry here.

Cumulative results:

  • Applications: 10
  • Chat requests: 62
  • Chats: 22
  • Superdays: 3
  • Offer: 1

Additional information: target, >3.9 GPA

General advice:

  • Read The Bond Buyer (or just headlines) and know what's going on in the market in regards to interest rates, the Fed, 10-year Treasury rates, etc. and how that influences the municipal market
  • Practice basic bond math: tax-equivalent yield, inverse relationship between price and yield, time value of money
  • Understand what public finance is: why do people/who invests in municipal bonds, general obligation vs. revenue bonds, risks or factors to consider, trends in the industry)
  • Nail the "why public finance" and "why X bank" question: emphasize the impact of the industry and tie it to your background & mention some people and/or an issuance at the bank you're applying to
 

Quidem deleniti ad sint quae. Dolores laboriosam possimus totam nisi consequatur. Saepe pariatur maiores asperiores mollitia et.

Eveniet vel vel quod odit. Quibusdam doloribus est nam iusto dolore commodi maiores pariatur. Maiores voluptatibus cupiditate qui non rerum.

Tempore nesciunt voluptatibus debitis quae exercitationem voluptas aut. Alias repellendus et aperiam quibusdam doloribus. Quo impedit voluptatem aperiam eaque nihil quaerat odio.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.9%
  • Harris Williams & Co. 25 98.3%
  • Goldman Sachs 17 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 04 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (147) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
kanon's picture
kanon
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”