How does the selection process go for determining product/ industry group happen? How much say do you have in the process? Can you decide whether you want to be in an industry group or product group? If you had an internship at the bank how much influence does this have?
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This totally depends on the bank. Some banks might recruit you for a specific group (for example, Evercore RX different than Evercore M&A). But usually, there is a "matching" process that happens either (1) early on (maybe even before) in your internship, such as at some BBs (like JP Morgan) or (2) after you have accepted a FT offer and before you start, such as is the case with a few boutiques (like Lazard). When the process happens, you get to rank the groups, while the groups rank you. This includes networking with the groups you are interested in and expressing your interests. Typically you'll probably get one of your top 3 pics, but mileage will definitely vary. I also believe that for most FT offers from someone who didn't have an internship with the firm, you recruit for a specific group.
Definitely depends on the bank. Assuming you're a student, reach out to the people from your school who got internships and they will let you know if their bank gives out group specific offers or does a match process.
Also depends on the group. Some groups (FIG at MS) will recruit specific for that group separately from their generalist pool.
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