Starting in a strong but boring group (e.g. GS Nat Res, FIG)?
Hi
Does any of you have experience of joining a relatively strong group in an industry you found to be boring from the outset, with the intention of exiting after 2 years? For example, would you join a group like FIG or natural resources (or whichever industry group you might find boring) at places like GS just for the exit opportunities?
I really enjoyed my time at a PE and would like to go into the industry later down the line. However, based on my EB experience found IB to be relatively mindless and repetitive, and I am afraid combining this with a boring group would make for quite miserable analyst years. On the other hand, I guess you mostly end up just plugging numbers into templates and changing font colors back and forth as per the MD's brilliant insight, so not sure whether the group ends up mattering so much for the day-to-day work.
Any thoughts on this?
Nat Res can be some of the most complicated modeling and deal making, could definitely benefit from the technical skills you will earn there beyond more traditional groups and eventually switch, maybe post-mba or down market.
FIG is a top revenue generator for almost every bank, not as sexy, but bonuses are high post analyst level
How do you feel Nat Res does in terms of placing to conventional PE funds / do you think there is a risk of being pigeonholed into interviewing with just infrastructure funds?
Definitely a pigeonhole risk, but it depends on the groups m&a activity. Less LBOs in Nat Res, but PE makes big investments in the space. Thats why it may have to be a LMM shop or post MBA.
In case the exit opportunities from Nat Res beyond infrastructure funds (which I am not interested at all in) are post MBA (very difficult without pre-MBA PE experience?) or to LMM shops, the choice seems quite unattractive in my case given I also have a MBB offer. Not only am I confident I'd be able to also land a LMM spot from there, but the work would be more interesting for me personally and I would get broader industry exposure.
Am I missing something with this line of thinking?
Its your decision, comp is probably higher at a BB, but MBB has a certain prestige as well. Bain Cap hires from MBB
Check out Katusa research and their report on uranium https://katusaresearch.com/the-absolute-worst-things-youll-read-about-u…
Maybe some emerging market PE shops have positions in nat res companies?
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