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Analyst here.

Top teams are definitely Industrials, TMT. Both have some great seniors and Industrials boast some of the best talent in the sector, especially for the DACH region.

Other M&A teams are strong (TPH does a lot with the US teams and is well known, UK team does a lot of public situations which are interesting). Both teams are very good culturally. I don’t have much experience with the FIG team or FinTech teams.

Private Cap Markets is a weird love/hate one, it’s very very client facing and you’ll build a lot of connections very quickly, but often don’t get the same technical exposure.

Restructuring is growing very quickly and seems to have had good dealflow. Culture is take it or leave it from what I’ve heard (better hours on weekdays, but more intense).

Not a huge amount of knowledge of them, but fairly new team. It isn’t like PCM at other banks, they’re very much more tied to outreach. As I said above, this can be great for building a network that can be useful later on, but you’ll find it hard to transition into other investment banking jobs I think as your technical chops might fall behind.

Separately, if you mean the debt advisory team (which does a lot of private placed debt), sits within the rx group and is more traditional

Friend of mine works in a PCM group at an EB. Definitely a love hate.

PCM groups tend to be super niche. As a junior you’ll only be focused on logs and admin, maybe a bit of networking if you’re lucky. PCM teams get zero modeling experience hence the extremely high turnovers in most of these. Exits can be very tricky without any modeling experience

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