Unsure if there have been more recent threads about this, but would appreciate any updated info about FIG at GS (exit opps, culture, past return offer rates, etc.) and why it's considered one of GS' top groups when FIG is typically thought to pigeonhole people.
Thanks!
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bump
bump, would love to hear about this
Super technical - think about how you have to model Insurers / banks
Bump
Heads of FIG used to be very respected individuals. FIG is pigeonhole in most banks but GS is the exception. it is 2nd only to TMT and SSG (where SSG isn't even banking).
Top exits to MF/UMM PE.
Lol why MS?
Is this still true after so many of the FIG bankers left for Ardea?
You're probably getting MS because you're a prospect who's ranking groups in GS.
Uhhhh...I guess the news is that there’s no updated info...it’s still a top group at GS. Doesn’t pidgeonhole you unless you spend more than your analyst years there...nothing else significant has changed. Pete Lyons is now the head instead of Luke Sarsfield...if you care about that but probs not.
Source: was in GS FIG for 5+ years up until recently
delete
Please PM me too, thank you
Your experience will very depending on what sub-sector you get placed in. For example, if they put you in insurance then you will only work on insurance during your time there so you definitely become very good at what you do. I am not sure how easy it is to move to another team. All subsectors seem to do well but fintech may be their best right now given how that sector is performing. They have led almost already major fintech IPO that I have seen in the last year or so. GS FIG is maybe the only FIG group that won't pigeon hole you at all. Very highly regarded in recruiting.
Which FinTech IPOs are actually led by GS FIG?
it’s usually TMT doing the big ones
Lazard FIG doesn't pigeonhole too from what I understand, although given how few people they hire probably not worth mentioning
I think there are clear reasons for the reputation and exits that people have described. The team has very a diverse range of verticals and due to the deal flow of the team many analysts work across these. This gives them great exposure, modelling balance-sheet driven businesses and running cash flow driven valuations (in fintech and market infra). This duality is perhaps why the exits aren't pigeonholed, but also is why the group is sweaty.
Nah so the silos are pretty strict. They've tried loosening them recently but it hasn't really worked. Insurance bankers will do insurance + insurance brokers (which will be their only exposure to cashflows + DCFs). FTAM will do all cashflow/DCF deals. And BSF (Banks/Spec Fin) will unfortunately do all balance sheet deals.
BUT - none of this is rocket science especially the cashflow side of things. the Insurance and BSF guys have no hindrances recruiting at all, because you already know how LBOs work and modeling if you're in GS FIG period. If anything, the balance sheet stuff is harder and people have difficulty doing that side of things.
Think the latter is spot on. In EMEA, I know the former to be somewhat true but more so at the senior level. Juniors definitely have specialties but many work across verticals.
Can anyone elaborate on their experience with the FIG group in Chicago? Thanks!
TIME’S UP ! YOU ARE PIGEONHOLED ! ! !
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