Opinion on Public Finance Investment Banking
I wanted to know everyone's opinion on Public Finance. What are the odds of lateraling to an M&A role like a year into the job?
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Easier to make the switch earlier on in your career than later. Haven't really heard of people making the switch into M&A as there aren't many overlaps, but I have heard of people going into DCM, LevFin.
Thank you. The issue is that I am not very interested in Pub Fin, but it seems to be the only option I have at this point.
Well I think it really depends on the firm you join. Salary and bonuses at top bulge brackets is very competitive, but it may not be for smaller banks. I know it’s actually very common for people to switch into DCM from public finance, and a lot of those same people switch into IBD as VP—but yeah true you’re not going to have the same in and out experience as someone who started in IB. However, there are some notable exceptions of people in public finance who actually work on M&A deals, such as people covering non-profit healthcare mergers(which are covered by public finance at most BBS) or P3 deals.
Thank you for the insight. It looks like that Pub Fin is going to be my only offer, however, it is not where my interest is and I do not want to get stuck somewhere where I don't actually enjoy working.
Well you may dislike it, but I would mentally give it a shot! And hey if you totally hate it, you can always go to business school. Also considering current economic conditions, snap up any finance offer you can get
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