Starting a FT at one of these two in September. Curious to find out how well these two groups exit in London
Are exits slightly worse than the average group at either bank given it’s FIG?
Understand that in NYC GS FIG for instance is seemingly quite well regarded on this sub but no idea how that’s translate to London
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Interested
You can't go wrong, it is a bit sweaty, most exits are viable. I would know cause I'm in there rn.
Bump. Also curious to know the same topic in HK context, as SA stint is coming
Friend worked at BB in their FIG group and can honestly say that it pigeonholes a fair amount. He mainly got recruited for FIG PE and had to change group to broaden his opportunities. Work can also be quite dry apparently, a lot of insurance stuff depending on the bank.
Exits will mostly be FIG related. Will be difficult going to vanilla PE but it does happen.
I started in a BB FIG team in London. All exit options should be open, I had advanced processes with MFs (both FIG and generalist) as well as special sits type shops. Went to MF FIG for reference.
I think it’s just incumbent on you to push to recruiters that they should put you forward in generalist PE processes (if that’s what you want). My experience has been that once you are in the process, then it’s very meritocratic, i.e. the sponsor hires whoever they think is best during the process and don’t care whether they’re from GS TMT or CS FIG.
From a skills perspective, I think FIG positions you as well or better than other groups for a generalist PE role, simply because FIG can be so much more difficult. If you can competently run a run-off life insurance model then you can easily pull off an LBO (the reverse is not true). There’s also lots of FIG work that is more EBITDA-based in any case (e.g. payments).
Which is better, GS TMT vs. CS FIG?
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