Is Product or Coverage Taking More Water?

Incoming SA - ignore title. Was told by HR that placement will be highly dependent on headcount and the current state of the teams. My read is that its whoever actually needs reinforcements. With that said, who is likely to need more assistance? I know ECM/DCM are getting taken to the woodshed but M&A is down YoY as well. Thoughts?

4 Comments
 

It depends on deal flow and how many people leave a certain group post-bonuses. Banking is highly inefficient at being perfectly staffed, so most groups are either understaffed or overstaffed. I wouldn't read into this too much. But any Energy Transition/Infrastructure coverage team will be adding team members given recent policy initiatives from the Biden admin. 

 

I think it'd really depend. At my bank, coverage usually runs processes with M&A helping out, so coverage is the play. At some other banks, M&A might be the best as they get to hop around from industry to industry, staying busy, whereas each individual coverage group might have too much capacity.

 

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