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In my view few considerations:

1) Product vs Coverage - Product is the most specific and in most cases is focused on exection, in coverage you get to understand industries better. Both are quite valuable, I prefer Coverage as you get to see more types of deals, and get to understand better business versus (seasonality, WC swings, why X is doing better than Y although similar products) your execution counterparts that may be focused more on capital structure, EPS accretion/dilution or process management

2) Now within these 2 buckets - is there sectors that you are more keen on - based on personal experience, interests, studies, geographies (ie are you from the midwest where there is a bunch of industrial companies etc), or products - is your bank great at one thing? LevFin? M&A? Want to do long term banking (ECM/DCM are great for that). Are you more interested in one type of deals (ie LBOs - go for sponsors, but may become a bit more repetitive vs going for other coverage teams).

3) Fit/alumni/lifestyle: don't forget about this, sure your team is important for exits etc, but if you do not want to hate your life and want to make sure you actually get paid well, will get cool staffings on, these things do matter so don't forget to consider this. Ideally from the above points 1 & 2 you are considering 3-5 teams, and can narrow it down to 2-3 teams that should be your top picks and then hope you get one of these! 

 

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