Currently a sophomore recruiting for 2025 SA and am interested in industrials, are there any good primers or insights that current industrial bankers have? I have read the M&I primers but was wondering if there were any better way to learn about the industry and what being an industrial banker entails. Would also love to know which MM banks are strong here in 2023.
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Industrials is very broad, so it covers many sub sectors. Airlines, Packaging, Building, Engineering, etc. Would read headlines on what’s going on with large industrial companies. You’ll start to learn the names and notice trends. Not much you can do beyond that, until you actually do the job. If you have an interest in a specific area maybe read up on that more, to gain some expertise. Also wth is M&I Primers, never heard of it
You can find industrial primers released by equity research analysts online. I know there are primers on sub verticals like transportation and chemicals published by CS and Deutsche.
Second the chems primers (former industrials banker doing chems + everything else). LEK consulting also has some good reports they do with banks (specifically around industrial automation). Have also seen some quality writeups on spaces here on WSO.
Key thing is to figure out verticals you want for was about and can google Vertical industry overview or Vertical industry primer and search for PDFs. Also searching anything of these spaces and “initiating coverage” is good, because the analysts should generally always have an industry overview section in those type of reports.
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