GS M&A vs MS and Citi
At GS, there are industry coverage groups and then the M&A group. At the senior level industry MDs manage the relationship and M&A MDs handle the execution, but at the junior level, industry coverage group handles both relationship (client service decks, pitches, etc) and execution (live deals including holding pen on the model). M&A juniors are grouped into specific functions like activism, capital markets, etc, that will assist on live deals, but they aren't a part of the core deal team.
MS and Citi also have the industry groups / M&A split. Wondering if they function similar to the above, or if the M&A group does more holistic live deal work? From reading through this forum it makes it sound like the M&A groups are considered top-ranked for junior experience, over the best industry coverage groups, and even like the M&A group does more of the live deal work than industry groups, but wanted to confirm if that's right since that would be so different from GS?
There are also sponsors groups at all 3 banks and at GS, the sponsors group does the same work as any industry coverage group but is just generalist. Again from reading WSO it seems almost flipped, like MS and Citi sponsors groups don't work as closely on live deals but instead assist on sponsor-specific work, kind of like how the M&A group works at GS.
Thanks, just trying to figure out the differences
At GS, the M&A group operates differently compared to MS and Citi. Here's a breakdown based on the most helpful WSO content:
Goldman Sachs (GS):
Morgan Stanley (MS):
Citi:
Sponsors Groups:
In summary, the M&A groups at MS and Citi are more involved in live deal execution compared to GS, where the M&A group plays a more specialized, supportive role. For juniors seeking hands-on deal experience, the M&A groups at MS and Citi are often preferred over GS.
Sources: Going A2A.. feel like a failure, Citi Top Group vs GS/MS/JPM, Citi or CS?, CS/Citi M&A/FSG vs. lower GS group
take GS
It's hard to draw any concrete distinction
What do you mean?
bump
Bump
Always gs.
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