Wondering if anyone actually comes into banking wanting to do FIG. I'm in FIG but definitely was not my top choice of group. Also sounds like my fellow analysts were forced into the group as well. If it's GS FIG, then sure, but for other banks, I can't imagine why anyone would willingly want to do FIG. Thoughts?
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Two of the largest hardos in my school are obsessed with FIG. It attracts more academic people for whatever reason.
Not that I’ve seen (at MS)
At the Analyst level it’s the kids who simply couldn’t get into other groups during the networking and group placement process. A few FT FIG Analysts in prior years have been those who actually summered in BO roles since the FIG SA’s will find a different group for FT
At the Associate level it’s usually MBAs who were in Big4/Accounting type roles pre business school who couldn’t translate their experience/ tell a story for M&A and thus FIG is the only industry group that was directly related to their prior work experience. The good ones do a year and then leave to another group internally or move externally
Sorry bro, but if you actually worked at MS, you would know that at the associate level, FIG has a completely separate recruiting process and that M&A doesn't hire directly at the associate level.
The only people who recruit for FIG at MS are those who decide right away only to go for FIG. If you went for pool and weren't succesful, by the time you figured out you weren't making any progress, it would be too late to recruit for FIG.
Depending on the bank, it's *fairly* laid back.
I know someone at my bank who works in FIG, very rarely does he have weekend work. Admittedly, he says it's boring but he makes decent money and the relatively free weekends makes up for the lack of excitement.
I think it gives you a good structured finance / corporate finance experience as the companies can have pretty complicated capital structures, but the business models are generally simpler / less interesting and there is probably less M&A going on than other coverage groups. Just depends what you're into, but I enjoyed it.
I chose it because I find the space interesting but I’m post-mba and not worried about buyside exit opps. It’s a sector that’s busy across market cycles and is a top revenue generating group at many banks.
Curious about FIG. I'm trying to move into IB as i'm currently doing Corp Dev for a financial industry firm. The deals are so boring. Wanted to move into a different industry if I could land an IB gig but everyone I've talked to said I'll have the best shot at a FIG group. Is it any better on the IB side in terms of just more exposure to different types of firms? We really only stick to looking at our exact appetite.
Has anyone ever seen a FIG resume with an interests section??
True. FIG hardos are mega econ nerds
My firm's FIG team has fintech thats why I wanted to do it. However, I avoid the other subsectors as I don't like them.
In all seriousness, It can be a great space to make a lot of money because its not popular but pretty boring and technical so if you know what you're doing it can be a pretty lucrative on the buy-side. I know quite of few people at FIG focused funds that do very well doing while less work than their colleagues covering other sectors. Very steep learning curve but once you get it, it can be pretty straightforward and most of the FIG subsectors really haven't changed that much and companies within them are much more alike than 2 companies in another sector on average. It's also really easy to do quantative analysis on them because of the insane amount of information on many companies due to many being highly federally regulated (i.e. banks and most insurance), for example you can find some bank financials on a branch level.
You could argue that placing on the buyside is easier from FIG as FIG focused funds will pretty much only be looking at you, while you can still be pretty competitive for generalist roles. Most mega funds have FIG and are pretty much only going to hire FIG bankers, which largely isn't true for other sectors.
No. Help us. Men in ski masks raided the CS office, lead us at gunpoint into black vans, and forced us into the Jefferies basement. We all kneeled before handler, who gave us two choices.
Live, and work in the FIG division or Die like the dogs we were. I haven't been given food, water, or seen sunlight in days. I don't even know how long it has been. I am handcuffed to my think pad. Help me.
Well given some of the toxic bankers (universely despised from analyst to MD) from my group that went to Jefferies last year I might take death depending on the vertical (the worst of them are now in insurance at JEF).
rude
I started at a FIG adjacent bank. I always liked the idea of covering banks and the financial industry because we’re part of it too. I would probably have enjoyed other coverage groups, though.
Meh I think it’s reasonably interesting and don’t think exit opps are meaningfully worse than some rando coverage group if you’re at a top firm. And to the other poster’s point, there’s a lot of FIG buyside investing roles, so you’re in a really good spot to recruit for those if you like it. For whatever reason the FIG analysts I’ve known over the years have worked brutal hours though.
Updated for 2026
Want to hear people at MS / GS / JPM
Do interns / applicants willingly put FIG down as their top choice?
FIG is a top group at GS/JPM so yes
Wow this post annoyed me. I'd fucking love to be in a FIG group covering actually interesting balance-sheet fig businesses rather than MM sponsor-backed midwestern widget manufacturing shitcos.
I mean someone died at bofa in the fig group, and it’s not even the top fig group on the street…so, no, no one who has the luxury of options chooses fig.
Low IQ college posters spread FIG hatred. “It pigeonholes” “it’s hard”
Grow up, if you know how to model and are smart you can do whatever exit opportunity you want.
Every industry is complex in its own ways, and you do not need to be an expert on FIG to skate by. Additionally, FIG is extremely broad and includes EBITDA businesses as well.
FIG was my last choice. Then the vertical I got put in was also my last choice. But looking back 5 years later FIG is really paradise. Like others said my weekend work is very rare. Deals are slow moving and few/far between. Also I have more job security than most I know. Generally I get paid a decent premium all else considered because my knowledge is considered specialized
I started as an analyst in FIG on the insurance distribution and RIA side. As I progressed and got towards the end of my analyst stint and now associate years, I only focus on balance sheet lenders. Primarily I do M&A for spec fin businesses with some crossover on depositories just because some have large spec fin type portfolios. I'd say 85% of my job is sell-side / buyside advisory and the other 15% is DCM related since the nature of our clients' businesses. Typical businesses ill work on are going to be RBF / factoring, POS, healthcare finance, RE, Equipment Finance, Premium Finance, Auto Finance, Pawn / Payday and some others. I genuinely do find it pretty interesting the better Ive gotten at it and the more Ive learned. Still get reached out to by recruiters for good UMM and MM PE seats (I don't plan on leaving so never recruited). Get its super niche in terms of the day-to-day technicals but Ive talked to a ton of other associates in other groups at my bank and they all seem to think our group has a way stronger technical understanding across the board than other teams even though its non-traditional P&L driven businesses and models you deal with. Biggest issue is probably no exposure to more traditional industries in terms of knowledge a lot of PE firms are going to be primarily investing in since a lot aren't going to touch anything outside of fin-tech or services within FIG.
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