At a BB and have the opportunity to move from my industry group to another one of the groups listed above. Which sector do you think has the best outlook over the next few years, which sector or group do you think will bring in the most revenue? These are all strong performing groups at my firm, I really want to be in a sector that is growing and will be bringing in a lot of revenue for my firm. Which would you recommend?
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Completely dependent on the bank. See how much revenue each group generates and how placement has been in your class/prior classes. I’d generally avoid FIG but, again, it depends on your bank.
I'm planning on staying on as an associate so I don't care about placement too much. I am trying to think higher level/sector performance
Definitely look into revenue then. Also if you’re planning to be a career banker/staying a2a I’d reach out to some senior bankers. See which group has the “better” people. Also for industrials/tmt would you be willing to move to SF/Chicago? Some banks have forced some of my friends to move to stay on/build out an office. Clients will always need an IB (cap raise, M&a, etc) so I would consider which you like working on more (maybe there would be more IPOs in tech vs sponsor work with industrials and bond issuance for fig)
If you don’t care about exits, then I would say FIG is the move. It’s one of the biggest revenue generating groups at most banks and financial institutions will always be present given how vital they are to the economy. Plus, other people don’t want it much because of its niche nature so there won’t be too many people fighting for promotions down the line.
Seconded. If you plan on staying in banking, FIG is quite attractive. FIG is the largest revenue generator for almost all BBs. Also a more stable group give its counter-cyclical nature. TMT is strong too depending on the bank, but don't expect to be working on the hottest tech deals right off the bat. Many kids go into TMT because of tech but gets stuck doing boring teleco half the time.
All things equal, I'd vote TMT if you have a desire to exit into tech or live on the west coast.
I’d personally rank tech and industrials as pretty even top choices, with fig ranked last. I personally find working with more traditional companies is more interesting than traditional fig companies (namely dealing with the ever changing regulatory landscape with banks, dealing with capital ratios, etc)
However, the fact that you want to stay for the long term is important. As anyone would tell you and I’m sure you know, if you can’t stand your team it won’t matter what group you’re in.
If I were you, I’d select tech if the culture is good.
Thanks. TMT is obviously attractive to me and very interesting in the current markets, I am just not sure about long term prospects as well as consistent revenue generation y-o-y
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