I know there are some threads on this already but would love to hear more about the culture, hours, exits, etc. How niche is FIG in general and would I be able to exit to PE decent from Barclays? From what I have gathered deal flow is solid but would love to get more insight
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Based on the most helpful WSO content, here's what you need to know about Barclays FIG and FIG in general:
Culture: Barclays is often praised for having one of the best cultures among bulge bracket banks. They do a great job hiring, and the environment is described as supportive and conducive to skill development. However, like any investment banking role, the culture can vary by team and individual experiences.
Hours: Hours in FIG can be demanding, as with most IB groups. Depending on deal activity, you could see a range from 70 hours a week to late nights (3-5am) during busy periods. FIG hours are often described as tough, but this is largely a function of how active the group is.
Exit Opportunities: FIG is not as niche as some might think. While it does focus on financial institutions, the analytical rigor and technical skills you develop are highly transferable. Barclays FIG analysts have solid exit opportunities, including private equity (PE). FIG's reputation for being analytically driven can work to your advantage when transitioning to the buy-side. Analysts from Barclays FIG have successfully moved to middle-market (MM) and even mega-fund (MF) PE firms.
Deal Flow: Barclays FIG is known for strong deal flow, which provides analysts with valuable transaction experience. This is a key factor in building a strong resume for PE recruiting.
Niche Factor: While FIG does have a specific focus on financial institutions, it does not pigeonhole you. The skills you gain are applicable across various sectors, and many analysts successfully transition to roles outside of FIG-related industries.
In summary, Barclays FIG offers a strong platform with solid deal flow, a good culture, and competitive exit opportunities, including PE. If you're interested in FIG and can handle the hours, it’s a great place to start your career.
Sources: Why Should I Work in FIG Investment Banking?, Why Should I Work in FIG Investment Banking?, Q&A: Barclays IB to MM Private Equity, JPM FIG vs Mid Tier BB FIG, How is the lifestyle in FIG?
Solid group. Banks and insurance is niche but fintech is not. They are relatively lean team
What verticals are included besides banks, insurance, fintech, and asset managers?
You should be able to exit to MM easily, doing even better with FIG-focused shops like Stone Point. In terms of generalist PE, you definetly get the benefit of having Barclays' in-house modelling, but FIG will stuggle with UMM/MF placement compared to the top groups.
Thanks! Do you know what hours typically are? I know FIG tends to be on the sweatier side in general because of high deal flow across the industry
Not sweaty at all compared to the true Barclays sweatshops. By no means is it a lifestyle group, but it's nowhere near the level of industrials, tech, healthcare, or even PU&I or NatRes. Hours will vary, but FIG is a big group, so I feel like most people find it extremely manageable.
May I ask how do you rank these teams in terms of exits to UMM/MF PE in London? Was interested in TMT/industrials. Thank you!
How big is their insurance team and how have they been paying?
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