Curious to hear some common themes/stereotypes about certain coverage groups
Typically (I know your bank its culture are so different and unique so don't worry):
C&R - Girls and zesty guys
Healthcare - Snobby and East Coast vibe from a lot of you
Industrials - Fratty
Tech - Like industrials but cooler
FIG - Geeks
Oil & Gas - Ram ranch
Pub Fin - FIG but worse
Real Estate -
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PCA - FIG but more intense
PFG - nice and kind, not the brightest
PCA Geeks? Really?
bump
So you’re in tech then?
Coverage Chad. Shits on all other coverage groups except his own. Respect 👏
Fixed.
Infra?
Fuck FIG, me and all my boys hate FIG
Tech = Libs / GenZ snowflakes
CAPM = Rf + You(Rm - Rf)
del
Maybe it's because you brought it up in response to a question about your interests/hobbies?
del
Going into REGAL, what's the stereotype there? Just curious
Hella indians
Fratty white dudes, not the most "intellectual" group, lotta college athletes who got into good schools via athletics
RX stereotypes?
High IQ, chill, frat, rich, jacked, tan
This is quite inaccurate and damaging. They're lightskin, not tan
i only maybe agree with high iq.
Mining - shave the bush, drill and plow
Standalone M&A teams give off the vibe of guys who spent a lot of high school being put in lockers. FIG guys tend to be introverts. Tech guys are more sales-y, you kind of have to be to sell a pre-EBITDA company.
FIG - People who need sponsorship to work in America
Consumer Retail - Hot girls who will leave finance after a few years and weirdo dudes
Industrials - Guys who jammed the IB technicals the weekend before the superday for the first time
TMT - Hardo Type A perfectionists who were generally popular growing up
M&A - Hardo Type A perfectionists who were generally bullied growing up
Healthcare - most likely to display real sociopathic tendencies at times
Lev Fin - Polished country club types - at ease speaking to billionaire clients
Real Estate - Don't really think about them or think they even exist (Don Draper "I don't think about you at all")
Consumer - Girls, gays and theys
Tech - CS majors who know big tech sucks but aren’t cut out to be founders
Industrials - Ex-engineers who compared mechanical engineering salaries with IB
Healthcare - Ex-premeds who needed to make doctor money with just a bio major
Power - Fratty AF, New England
O&G - Fratty AF, Southern
Real Estate - Fratty AF, non-target
RX - Hardos, thought undergrad business school was a joke
M&A - Hardos, did really well in undergrad business school but had to try
FIG - Unhappy with group selection results
M&A - Ex world champs of asking unrelated questions in class in an effort to look smart
Consumer - hot chicks with daddy money and connections
Tech - the cooler CS majors/ fratty engineer boys
Industrials - fratty dudes that majored in finance and have no knowledge about anything else
Healthcare - premeds with a high GPA/ low MCAT score
Power - fratty NJ/NY boys
O&G - Fratty with southern roots (Huge Texas longhorns fan)
Real Estate - fratty AF, ex-athletes that couldn't make it into the league/ didn't get playing time so kept grades up/ big biceps
RX - type A personality, sociopaths, big brain
M&A - type A personality/ likely got bullied in high school / can't pull girls
FIG - need a sponsorship to be here/ got placed into the group
What about sponsors
Not real bankers
they’re just cucks to their PE superiors
mostly fratty and sociable ppl due to the nature of the group
Infra?
Is power. Unless you mean PF. Most people don’t know anyone in PF
Consumer - rich parents or living paycheck to paycheck to pay for a crippling hermes/tiffany/saks habit
Tech - type A. thinks almost every deal should be covered out of tech (Fintech, industrials tech, even biotech). requires the most coffee chats during group selection for “cultural fit” reasons even though everyone is an asshole and will blast you anyway
Industrials - fratty dudes and women who thought this was the best way to make diversity hiring work to their advantage
Healthcare - think they are making the world a better place by doing IB
Power - see industrials but times 10
O&G - see power but times 100
Real Estate - relevant experience includes rich parents who own 35 fast food locations in Texas or other southern state. Threatens to quit banking and join a REPE at least 8x / week or whenever is asked to do any work
M&A - type A. likeable outside of work but a pain in your ass when they get involved on any deal
FIG - deluded themselves into thinking FIG is the best group when all signs point to the opposite being true
Sponsors - spends most of the day finding the right coverage group to do their work for them
ECM - always tells people they are slammed even though no one is IPOing right now. Promises a million things but always gives you the same standard pages for their section of the book
DCM - ugliest slide formatting but good for getting the latest numbers from Bloomberg in a pinch which every bank has gotten too cheap to give you access to
Activism defense?
Guys who talked themselves out of law school but still think about it after another bonus or two
Ha! I love these threads......
Consumer - Sorority chicks, lotta blondes
Healthcare - Think they're special and tell people they work in "Healthcare" not banking
Industrials - Pragmatic dudes who just want to make money and crank straightforward deals
Tech - Industrials for people that are just a bit sharper and better with complexity
FIG - In their own dorky universe, no one ever said "Yo let's invite Brian from FIG to this dinner! That guys great with people." Either in FIG because they're an analytical introvert that wouldn't want to work in any group but FIG, or they are spineless dweebs who weren't assertive enough to secure an offer in a more illustrious group during the selection process.
Real Estate - Fratty dudes who got into good colleges because they played sports, and got jobs because they played sports for the same college as MD. Hire a lot of smoke shows from non-target schools into their group
O&G - Ultra-conservative fourth generation Kappa Alphas, SAEs and Sigma Nus from U Texas or other southern schools. Lotta roman numerals after people's names. Favorite talking point is how shitty the returns on renewables deals are. Exist in their own conservative bubble in Houston/Dallas offices, away from the liberal coastal HQs. Working in O&G in Houston is like going 30 years back in time culturally.
Sponsors - Sycophants for rich people, crude judges of character, can look at you up and down once and tell if there's any value in being your friend.
M&A - All-American golden child type. Kinda dudes that played three sports in high school and still got into a top target school from grades alone. Most of them end up at god-tier PE firms.
RX - Scarily intense motherfuckers with ice in their veins. Not sure what motivates them, enjoy watching trainwrecks. Eerily calm in the face of mass financial wreckage. The Joker would have been an RX banker. Types of kids who burned ants under magnifying glasses during recess.
ECM - Complacent but steady, targeted the absolute easiest group to get into and be in from the jump. Not worried about exits, and if they have to, they're fine doing IR for a PE fund. Never fussed about comp - their girlfriends/wives make more than them and they are fine with that. May secretly be the smartest of all of us!
lol very spot on besides the M&A group. if they played sports it was JV just to boost their resumes.
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