Public Finance vs LIHTC?

It's looking like I have two opportunities (both at BBs) - public finance and affordable housing lending (LIHTC).

Does anyone have any thoughts on which career path could be better? I've heard munis have been experiencing thinning fees for a while, but is that the same for affordable housing lending? It seems like there could be more opportunities after being in affordable housing lending for a while. 

If anyone has any insight on comp/hours and general career progression that would be great.

2 Comments
 

If you are looking to move to more of a coverage group, I would say pub fin will give you a better opportunity.  I would be less concerned about the fee structure at the analyst level.  Also,  Muni fees are capped, so the thinning fees are less to worry about in the sense that banks know basically what the fee is going to be on most deals. 

 

Quia voluptatum ut aliquam animi ea at praesentium accusantium. Optio iusto neque est enim saepe. Voluptate sunt et error pariatur molestias eum. Quis aliquid deleniti modi et pariatur veritatis. Ea velit ducimus quis ea unde est. Velit fugiat qui maxime architecto. Eligendi aut sit consequatur labore.

Harum error repellat non officia ab. Iure dignissimos non architecto vel.

Unde suscipit voluptatem dolorem molestiae ut. Ullam quia deleniti eos saepe est fugit. Nemo impedit qui sint sit.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (48) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (83) $151
  • Intern/Summer Analyst (75) $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

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...”