At the (post-MBA) Associate+ levels - How would you rank BB PubFin vs BB Corp Banking in terms of salary/bonus, as well as hours worked. Are they equal?
What if I also added ECM and DCM to the mix (at both EB and BB)? <-- does this change things?
| +219 | Downfall of Qatalyst | 42 | 9h |
| +167 | UBS IB 26Q2 a Disaster! Advisory Revenue Down 23%, Capital MarketsDown 5% | 22 | 3d |
| +111 | UBS Americas IB: The Kids’ Table of Wall Street | 15 | 13h |
| +81 | Lincoln International Return Offers | 42 | 1d |
| +52 | so confused about 28 SA timeline | 27 | 6d |
| +51 | London IB BB is a challenge | 31 | 1h |
| +37 | momentum of Rx groups | 11 | 1d |
| +36 | Fired during interview | 6 | 17h |
| +33 | [WSO MODS] Please Delete This BS Host Books Spam! | 2 | 5d |
| +27 | VP Lifestyle at Top BB Coverage Groups | 13 | 9h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Focusing on just BBs and ignoring the exact firm, group performance, individual performance, etc. then Comp - ECM/DCM > Public Finance > Corp Banking and WLB would be reverse (i.e. Corp banking has the best WLB and ECM/DCM has the worst). All of these are among the best balance of pay and wlb if you want to be in banking for the duration of your career.
A couple notes below:
Thank you so much for your in-depth insight!
Do you know which firms are advisory heavy?
Also, does PubFin exist outside the BBs (ie within any of the EBs like PWP, EVR or Moelis)?
There are a few select EB pubfin firms, and also not all BBs have a strong pubfin group either (see Citi collapsing it, UBS not being a big player, etc.). For EB's, there is already some good information available on this site, but from what I recall:
None of the EBs have public finance groups (like Moelis, Lazard, or Evercore). It's a debt underwriting business, so only banks that have a large balance sheet are active in the business. Most EBs focus on M&A advisory.
In addition to the list someone else wrote above, these firms also have public finance:
1) All the BBs likely do some advisory. Its really is team / sector dependent. In general NFP HC does the most advisory work, followed by P3 teams. Some Power, Transpo, and Higher Ed teams also do a their fair share of advisory work, while others do none. You can really only figure this out by being in the space / networking. Off the top of my head, in the NFP HC space the GS team does the most followed by Jefferies (ex-Citi team) and RBC. In the P3 world Barclays (both the og team + the Citi team that joined) do the most.
2) No EBs have major PubFin teams. You're best off going the BB route if possible.
Thoughts on where non-modeling relationship heavy financial sponsors group would fall? They’re still a coverage group at the end of the day but seem to be quite a bit lighter than the traditional healthcare / technology side.
Culpa eum illo neque voluptatem. Ea nam enim qui est. Ea facere iusto quia sed. Distinctio in aperiam adipisci nemo sequi aperiam itaque rerum.
Nobis delectus reiciendis soluta quia. Qui dolorem sit ad officiis dolorum aut. Incidunt qui fugiat omnis recusandae nesciunt doloribus odio.
In suscipit illo mollitia provident consequatur iusto unde. Architecto aspernatur officiis magni sint excepturi. Aut provident aliquid cupiditate nesciunt facere velit. Et et quod perferendis quo doloribus dolorum dolor. Vero molestiae ipsa quibusdam sunt dolorem eos aut. Incidunt a vel hic cum repellat asperiores porro. Exercitationem eum omnis voluptatum omnis mollitia laborum incidunt.
Numquam sequi rerum et aliquam dolores soluta. Doloremque asperiores pariatur impedit aperiam quos officia quis facilis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...