Lateral opps from FIG
Hi all,
Without giving too many details I’m currently a first year working in fig at a MM (depositories). My goal has never been to work in FIG, it’s just where I ended up getting placed, and I’m hoping to exit to a non-FIG buy side role after a 2 year analyst stint. I think it’s important to stay in my current role for at least a year, but I’m ~5 months in and already thinking about what comes next. I’m looking to set myself up for success, whether that’s networking with the right groups or training to understand non-FIG technicals / LBO / accr/dil models better.
I’ve started to think about potential options for after my first year and boiled it down to 4:
- Stay in the MM FIG role and try to recruit directly into MM PE (non FIG) after 2 years after having done an immense amount of LBO / PE prep (worried this will be a very difficult uphill battle and likely not the best option)
- Try to recruit internally after a year to a TMT / fintech / lev fin / or another more standard group, although I’m worried I’ll step on a lot of toes in the process of requesting a change
- Network my ass off and take some WSP modeling courses to try to land a role at a MM (more realistic) or BB (less realistic) in a less niche group (this option would likely spread me very thin)
- Stay focused on my current group / role, become a top performing analyst, and try to lateral to BB FIG and exit to PE directly from there (I’ve heard some BB FIG exits are great depending on the group / analyst so this is the best and most efficient option in my opinion)
Since I can’t really talk to the seniors / other analysts in my group about this I would love to hear thoughts, all opinions are welcome.
Can you try to move verticals to something more EBITDA focused? In a similar situation and planning to do that and lateral to a different group at a BB. Imo if you can move to fintech, the jump to a tech group doesn’t seem that farfetched
Yeah I would certainly like to move verticals to one that’s more EBITDA focused, I just think if I tried to make the jump to a more standard group at a BB I would be competing with analysts with more relevant experience and so it would be difficult. To get to a BB I may have to stay in FIG since that’s where my experience is and exit from there. To me that’s the most realistic scenario especially when taking into consideration the current economic / recruiting landscape but would like to hear what you’re thinking.
Could try and lateral to GS FIG. Great exits & doesn’t have a huge a2a pipeline so opportunities available at the associate level as well.
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