Best groups to work in During a recession
Hey all, I'm trying to decide which groups to aim for. I'll be doing IB at BAML this summer and my goal is to get a return offer. I was thinking Financial Sponsors. Is that a solid group during a recession?
Hey all, I'm trying to decide which groups to aim for. I'll be doing IB at BAML this summer and my goal is to get a return offer. I was thinking Financial Sponsors. Is that a solid group during a recession?
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I would say that since youre going to be a SA you shouldnt focus on which group will survive- youre going to BAML, youre gonna be okay lol, they have incredible protection during times like this due to the myriad business lines. I would say what is most important is picking a group that you really connect with and find interesting- that will lead to the best chance of getting a return.
Thanks!
To answer your question, no, sponsors is not typically a great group to be in during a recession because PE activity tends to tank. Probably more defensive groups like def, hc, P&U (not energy), etc. will have better activity.
At BAML I would say TMT but its just due to their growth not due to the sector. If you want an stable sector go for HC or Utilities (inside of NRG at BAML)
Only thing about BAML healthcare is they’ve been doing a lot of ECM work within healthcare. So I’d consider that when thinking about groups.
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