Anyone else not care about group placement?
Incoming SA26 at an UMM (think WF, Jeff, etc). Group placement is starting soon and I honestly have no idea what coverage groups I'd like to target. My previous internships weren't in a specific industry (accounting firm, regional commercial bank), so I don't have prior experience to support a particular group. I'm pretty neutral to any group I'm given, at least in terms of industry interest.
What should my approach be? Should I just target the best groups at my bank? Network across the bank and see which people I get along with the best? Do I need personal/professional relations to an industry to get into its coverage group? Not sure what the best thing to do would be. Thanks!
Based on the most helpful WSO content, your approach to group placement should focus on a combination of strategic networking and self-assessment. Here’s a breakdown of what you can do:
Network Across the Bank:
Assess Group Strengths:
Evaluate Fit:
No Need for Prior Industry Ties:
Be Open-Minded:
Prepare for Placement:
Ultimately, your goal should be to position yourself in a group where you can excel and build a strong foundation for your career. Even if you’re neutral now, the relationships and skills you develop during your internship will shape your future opportunities. Good luck!
Sources: Best Coverage Groups at Barclays & Group Networking, https://www.wallstreetoasis.com/forum/job-search/my-2-cents-on-sa-recruiting-from-a-non-target-background?customgpt=1, 10 Friendly Reminders While Networking for SA Programs (from a BB Analyst Perspective), In Search of Wisdom, Non-Target to MM IB: My Advice
Same here, I’m just looking to collect a paycheck and have a good time. Probs gonna try and place into whatever group seems cool w chill hours
No joke, this is the move. If you truly “don’t care where you end up” don’t just target the top group. If you are already that lax of a person(which I’m not saying is a bad thing) you should most definitely go with a group that you get along with and like the culture. If you’re already interested in the space it covers, even better
Makes sense. Will try to scope out what that is at my bank, but I would assume it’s like most. From what I’ve seen, C&R seems to be the least sweaty group across the board. Any others that are generally better in terms of hours?
Financing > Industry
Like M&A, levfin, or sponsors groups? What makes them better than industry coverage groups in your opinion?
More so if you want to be a career banker. Overall, better hours, culture, focused skill set, career banking track. LevFin offers the optionality to move to private credit. ECM and DCM also great options for career bankers. Every Company needs financing but they don’t necessarily need M&A
I think the only thing here is that a lot of strong financing MDs are former coverage guys. It helps to be familiar with other products than your own, even as a product MD. Being a LevFin MD familiar with M&A is super helpful, for instance, when looking to position and raise money for an LBO. Have also noticed that a lot of the successful product guys are former coverage guys in that industry (ex. current ECM Tech banker being formerly pure Tech coverage when a junior/mid-level).
WSO loves to tell you to chase the top groups, and honestly, I think that’s one of the biggest mistakes people make when choosing their placement. Not because top groups don’t have good exits (they do), but because people completely misunderstand why those exits happen.
The reality is, the difference in outcomes between “top” and “non-top” groups often has more to do with who joins them than the groups themselves. The kids gunning for the M&A or the top coverage group at every BB tend to be the same ones who are networking nonstop, prepping months in advance, and relentlessly chasing PE. If you dropped those same people into a middle-of-the-pack coverage group, they’d probably still land great exits because the headhunter emails still come, and the process is largely candidate-driven.
What you do get in a top group is more deal reps. However, it often comes with longer hours, more pressure, and a harder culture. And again, that’s part of the self-selection loop; people who want that intensity seek it out. But if you're someone who values having a life outside of work and genuinely enjoying your team, that trade-off might not be worth it.
I chose to go to a group with great culture/people I enjoyed being around (IMO) and slightly more reasonable hours. I liked the people, liked the industry, and was still exited to a multi-billion-dollar fund. No regrets. The marginal prestige gain of grinding yourself into the ground in a hyper-competitive group just wasn’t worth it for me, and honestly, it isn’t for most people if they’re being honest about their goals.
Everyone’s priorities are different, but don’t blindly follow the herd. Culture fit, hours, and interest in the work do matter, and in the long run, they’ll probably make a bigger difference in your performance and happiness than a few extra logos on your resume.
This is very helpful, thank you! How would you recommend gauging factors like this during placement networking? Is it common to ask directly what the group culture is, what deal flow is like, what hours are like, etc.? I wouldn’t want to come off as someone who’s not hardworking either.
Can ask about thoughts on group culture and deal flow (frame it maybe as how much pitching vs. life and split between products or some other variations of those two questions) directly, for the hours going to have to gauge it from other things. I think you can gauge it by asking questions like how their weekend was, what their hobbies are outside of work. If anyone talks about things like picking up their kids or going to their kids' games, also a good sign.
when does group placement start? thought it was like jan 2026 for summer 2026…am i tweaking?
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