How is the lifestyle in FIG?

Question

I have heard that the work gets pretty rough in FIG where people stay back in the office much later than some of the other groups. Is this true? If so, why is it this way?

Also, if someone can comment on the lifestyle in-depth, that'll be great.

greenmoney · Accepted Answer

Interned in BB FIG last year - was staffed on one insurance deal that required a lot of reading about obscure insurance statutes, but the deal itself was a live M&A and super interesting. Ran the entire process within our group, other than a senior MD from M&A.

Take the comments above with a grain of salt - people worship restructuring banking on this site, but forget that restructuring IB is also researching tons of very specific debt agreements and legal statutes.

MasterChefz · Answer

I did my internship at a relatively strong FIG group on the street and hated it. The hours are long and the content is super dry but also very technical. Imagine reading pages and pages of regulatory info at 1am.

It honestly takes a special type of person to enjoy FIG work, especially on the depo and insurance side. I honestly don't know a single person in my class or group of friends that enjoyed FIG.

Bourbon18 · Answer

FIG / M&A / RX are by far the three most technical groups that you could be in for investment banking - FIG by the nature of the coverage sphere causes a decent amount of burn out

AM / WM / Insurance Brokerage follows conventional valuation methodologies - meanwhile banks / insurance (P&C / Life) / specialty finance have their own nuances and drivers to deriving value

Personalities could be difficult at times but the intensity level never seams to stop - for the most part everyone in c-suite at firms have mathematical backgrounds (mainly insurance) and have a much better understandin

reformed · Answer

I don't really think this is accurate. I started in a FLDP program at a bank, and most of the roles are either mostly consolidation (any sort of FP&A), project management (controllers / regulatory roles) or technical but focused on only a very specific product (product control, many treasury roles).
You can definitely get very deep knowledge of the company by rotating through enough roles/businesses/functions, but that can be a 10-15 year adventure, not 3 months.

Banking gives you the high level view, in the weeds technicals, and project management experience all in one role.

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How is the lifestyle in FIG?

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How is the lifestyle in FIG?

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