FIG, Still Career Purgatory?
I'm curious why people still believe that being put into a FIG group is a death sentence career wise regarding any move to PE or otherwise. I work in the FinTech group at my firm which is within the broader FIG group, understanding that some banks put Fintech under Tech while others under FIG but given how large the Fintech market is these days and the amount of PE firms that either focus solely on Fintech or have dedicated groups to do so it doesn't seem like FIG should carry the same stigma as it used to. Obviously, if you get stuck working on insurance or depository deals the stigma might still ring true but are people still just shitting on FIG because of outdated assumptions? Curious what people think.
Bump
Anything but depository and it's relevant and transferrable. See insurance and PE currently
FIG definitely translates to plenty of exits. Never was pure career purgatory, even if only working on depositories. But it’s good if you can get experience on fintech/payments/asset managers/advisory firms/etc.
interested to find out as well
Depositories maybe. PE firms are buying like crazy in insurance, wealth and asset management right now.
Did FIG banking for 4 years, left for PE/credit fund (did both) with focus on FIG but exposure to other sectors and now doing SSG non-FIG. It's your mentality which will pigeonhole you, not the name of your IB group.
OP here, definitely agree mentality is everything. It's unfortunate that the stigma still lingers, it seems like every month or so there's an Analyst asking for advice on here on how to get out of their FIG group so they have "better" exit options.
Sure
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