Investment banking competition in industry sectors

I’m curious to get people‘s thoughts on what they view as some of the more competitive industry coverage areas in M&A advisory vs. some of the less competitive industry coverage areas.  I currently work in sell-side advisory in the software sector and it’s hyper competitive.  We are in bake-offs with 3-4 other firms for small $15M - $20M deals.  This has me thinking maybe it’s time for a switch to a less competitive sector perhaps an area like business services.  Would love to get people‘s thoughts from what they see.

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