What groups are likely to continue with a decent amount of work? Would it be better to join a product or coverage group right now and which groups? How did you all decide on your groups because I don't really have a specific interest in one industry? I know get to know the groups, but that has to be difficult over the phone. And advice would be greatly appreciated.
Hopeful
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Well I'm going to Houston, so my group is automatically energy or natural resources. If you don't have any specific interest, I would go with a product group like M&A to get exposure to all industries.
healthcare & financial institutions.
Lev Fin/Restructuring if you are at a BB.
Restructuring if you are at a Laz/HL/Roth/EVR/MB.
The world has changed. And we must change with it.
personally go with FIG or healthcare... most action coming out of those two spaces..
Unless your at GS, try to get into M&A.
don't do lev fin.
if you have to do a coverage group, FIG or HC... unless your bank has an all-star group, then join that one.
If you are a SA at a BB, does it make sense to just try to join M&A (considering that it is probably the hardest group to actually get into because it seems to be everyone´s default) or look for more active group or groups that the bank is known for being very strong in? (I am asking this in terms of the best training opportunities, prestige for exit ops and grad school etc...)
FIG and healthcare are generally the busiest at my BB...
Of the 50 or so Grads we had joining us in 08, 70% put down M&A as their first choice.
Having worked in the M&A team for two years, I really don't get it.
Why don't you get it?
They were all prob trying to maximize their chances of moving to the buy-side.
Additionally, people on this board seem to be under the illusion that all an M&A team does is model. Well, having worked in an M&A team for quite a long time, I can tell you, that is not true. A lot of what we did, we labelled "processing". This is FAR FAR more boring than building books.
I work in sector now and I find the work infinitely more interesting. At my bank we do most of the valuation and M&A get some really shitty jobs i.e. building 100 contact working group lists.
If I was giving a new Grad choosing a group advice, I would say go to a sector/industry team.
Execution,
I personally would prefer to be in an industry group, but given that the firm I am joining has M&A verticals within industry groups, rather than a standalone execution group, don't you think that would be worth pursuing? For example, being an M&A analyst within the Energy group.
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