Moving from Munis into M&A or RE
Does anyone have any tips or experience on switching from Public Finance Investment Banking to something like Real Estate or M&A coverage?
I came from a non-target school out of the suburbs of NY so to be even in this industry I am already more than blessed. Currently working in a top 10 shop in Pub Fin but I feel like this isn’t right for me. There is no real opportunities to move within the firm so I was thinking maybe try to aim my shots at a mm bank to gain experience and then lateral or go do a year of grad school and sort of reset. I am brushing on all my technicals again since pubfin does not really use your accounting and LBO but going to school means I can have more time to study and more opportunities to recruit into the desk that I potentially want to work at.
If anyone has tips or ideas please comment. Anything would do since I feel like the longer I stay in pubfin the harder it will be for me to leave.
Doable but difficult. Some groups within pubfin are far better than others for making the switch to m&a covg ie infrastructure and healthcare. Idk about the more real estate focused groups
Do you mind elaborating a bit?
Healthcare public finance team work on M&A transactions for hospitals (both for profit and not for profit) which means your experience translates better than folks who are financing schools. Hospitals are also much closer to a business than schools or other projects financed through public finance.
Infrastructure is also decent because you typically do some detailed modeling around toll roads and other infrastructure projects (airports, things like that) which translate well to infra IB groups.
what even is public finance investment banking
Basically we help government entities issue debt.
What do you not like about muni work?
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