Barclays 2024 Exit Opps
Incoming analyst at one of the good, non-P&U coverage groups (think Healthcare, Tech, Industrials). I think its no surprise to me or anyone that Barclays has been a tough shape in recent memory. However, I'm wondering how the firm is perceived vs. other mid-tier BB (BofA, Citi) as well as what exit opps will look like for me in PE on-cycle. Would ideally like to shoot MF/UMM, but I am wondering how realistic that is.
WSO can be a highly reactionary environment, but would love to hear how candidates from the firm are perceived by PE shops and HHs. Any advice is highly appreciated.
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Barclays is a decent balance sheet bank. Its M&A advisory is poor.
It's not the sane stabdard as Citi M&A.
MM PE sure, as long as you've done some sponsor M&A. MF will be very difficult. You may have to go Tier 2 PE and then lateral to Tier 1 PE.
You could always lateral from Barclays to a Top 3 BB and then recruit for PE from there at senior analyst or associate. That would be a better plan.
This is largely inaccurate. Ignore name- incoming first-year at Barclays with friends across the firm and at competitors (BofA, Citi).
The groups OP is listing at Barc regularly exit to UMM/MF PE, particularly Power, Sponsors, Industrials, HC, Tech, and NatRes.
Sponsors, Industrials and Tech are in a bit of a deal slump due to turnover. The bank is a whole is a mess yes, but Citi is no different and suggesting that they are materially any different in on-cycle PE is ridiculous. Citi and Barclays are both riding on legacy and name, but sometimes thats just what you need in on-cycle.
OP - MF may be difficult but there is not reason you don't get UMM/MF looks if you are in one of the three groups you listed.
No offense fellow monkey but you have extremely limited experience in the industry. So your perspective is invariably going to be incredibly limited.
You're also biased due to the fact you're starting in Barclays.
There is a material perception difference by sponsors of Barclays vs Citi, especially in the US. Both are good shops despite their recent challenges and both will do sellsides and buysides for sponsors.
As I said, no reason you can't network and hustle to recruit for MFs, but you're not going in with the same chance as someone from a big 3.
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