KBW vs. Cantor Fitzgerald

Based on the most helpful WSO content, KBW (Keefe, Bruyette & Woods) is highly respected within the FIG (Financial Institutions Group) space, particularly for its focus on depositories and financial institutions. Analysts and associates at KBW are known to work hard, especially in NYC Depositories, but the firm has a strong reputation and steady deal flow in the FIG sector. This makes it a solid choice for those targeting buy-side FIG seats.

Cantor Fitzgerald, on the other hand, is generally not as specialized or well-regarded in FIG compared to KBW. While Cantor has a broader platform and is known for its fixed income and equities businesses, its FIG reputation and exit opportunities for buy-side FIG roles are not as strong as KBW's.

For general street reputation and career development: - KBW: Stronger in FIG-specific expertise, better for those targeting FIG-focused buy-side roles. Career development is solid within the FIG niche. - Cantor Fitzgerald: Broader platform but less specialized in FIG. Career development may be more diverse but less targeted for FIG-specific exits.

If your goal is buy-side FIG seats, KBW would likely be the better choice.

Sources: Why Should I Work in FIG Investment Banking?, Why Should I Work in FIG Investment Banking?, KBW thoughts, Exit Opps: BB FIG vs. MM Botique / LDN, Jefferies SA 2023