Morgan Stanley Lev Fin vs. Project Finance

Hey guys,

I got an offer (SA) for Morgan Stanley's Global Capital Markets division, as they separate it from traditional investment banking. It's made up of 5 parts--ECM, DCM, Clients Solutions, Lev Fin and Project Finance.

I want to do a great job this summer and try and move into actual IB, ideally M&A, for full time. I've narrowed my top choices within GCM down to Lev Fin and Project Finance, and I'm wondering which would better position me.

Normally, Lev Fin would be the easy choice, but MS Lev Fin doesn't do any modeling. Project Finance is the only group within GCM that does--very intensively.

Let me know what you guys think--thanks a lot!

7 Comments
 

Really depends. If you're interested in O&G you should do PF. When it comes time for FT recruiting you would have a strong background in the sector and could probably have an easier transition to energy M&A. I've met a few lev fin bankers switched to M&A even at the VP level so that's not really a problem. Either way you should be very aware that as summer analyst its almost guaranteed you won't be building a full blown model model, regardless of the team.

 

Veniam commodi dolorem est unde iste sapiente at. Et dignissimos maiores qui corporis minima. Sunt architecto non nemo itaque optio vero distinctio.

Aliquam doloribus omnis id omnis quia et molestiae. Qui animi saepe quo voluptatem voluptatem ut. Hic provident nostrum quia laboriosam. Et dolore sequi reiciendis error laudantium. Ea est unde quo recusandae dolores aut vel.

Odio similique rerum consectetur aut omnis voluptatem accusantium. Quis qui tenetur eos quia. Possimus iusto quaerat velit accusantium odit placeat. Occaecati qui maiores sed natus nam.

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • BMO Capital Markets 12 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.7%
  • JPMorgan 01 97.1%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (15) $434
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (79) $150
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”