Traditional Investment Banking vs Public Finance?

Frankly speaking, I have no idea what the difference between a normal IB analyst who works on M&A deals or in TMT coverage is vs someone in Public Finance. I've seen some people list their role as a "Public Finance Analyst" and was hoping for clarification on the differences. 

Mainly looking for clarification on the differences in:

1. Exit Ops

2. Salary

3. Prestige

4. WLB/Time in office

5. General opinions on which is "better" than the other

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