Just wondering, for someone coming straight out of undergrad, how does GS Investment Banking compare with GS Merchant Banking? Would you say they're equal in opportunities, but just different in the projects covered? Or is one better than the other/it depends on the group you're with for each division? Would appreciate any insight from those more experienced!
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I would much rather start my career at GS MBD. No idea how different the exits are but as a person going to IBD with an exit to PE in mind, if I could skip IBD and just go straight into MBD, I would take it 100% everytime.
I'm curious to hear more about your thought process. It is just the hours/grind with IBD, or do you feel like you'd like to jump right into PE? It's also interesting that MBD is basically Goldman's version of PE. Was a bit confused when I first heard the name (almost mistook it for commercial banking, which is obviously very different).
why does this comment have MS
Would take merchant banking over the all the financing groups and some of the classics groups (RE, CMG, NR), but don't think it would beat out the top classics groups (TMT / FIG). Tremendous optionality out of those groups to do growth, buyout, even corporate and there's a shorter list of things that private investing arms at large banks can invest in because of Dodd Frank. Look at MSPE divesting into Metalmark or JPM PE into One Equity Partners.
If you want to do growth investing the best place to do it is a pure play growth platform like GA. Even growth investing arms at traditionally buyout firms (BX / KKR) are superior in my opinion, just by way of a much broader investing mandate. GS brand obviously very strong and carries heavy weight, but less optionality out of the merchant banking team for certain as compared to strong classics groups.
Interesting insight. Would you say your preferences would also vary based on the MBD group (e.g., PE versus Real Estate versus UIG)?
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