Hey guys,
I recently signed a general IBD FT July 2008 platform offer with a bank. We have yet to be assigned to a product or industry group, this will happen in January/February in a mutual selection process--analysts are able to state their preferences for groups and groups will interview the candidates they are interested in.
With that being said, I'm trying to do my research and I would like to get some insight from some of the experienced bankers on this board about how I should lay out my preferences. The product/industry groups are as follows:
Industry Groups:
Consumer & Retail
Media & Communications
Energy & Power
Industrial Growth
Healthcare
Real Estate
Technology
Financial Sponsors Group
FIG
Mergers & Acquisitions Leveraged Finance Equity Capital Markets
Also, can anyone tell me how the experience would differ if you were in an industry group, as opposed to M&A, ECM, LevFin?
Thanks in advance.
Smells like jp morgan
JP would have to have more product groups than simply those 3.
Financial Sponsors Group all they way, and no I don't know why.
If you can give me reasoning for your picks it would be good. I'm really interested in the type of experience I get while in one of these groups, and the exit opportunities.
Also, you're right there are more product groups--didn't want to list EVERYTHING.. but anyways here is what I left out...
High Grade Loan and Bond Origination - Investment Grade, Loan Synd, DCM
Strategic Advisory Group (restructuring)
Economics
That was my team in corp fin. It's an excellent sector (I live in London though so caveating this somewhat as there are slightly different fundamentals).
In general, having moved to a fund, I find that Healthcare companies are typically very strong performers, backed by excellent demographics. Obviously you have good and bad companies in each sector, but Healthcare has the added advantage in that it provides a wide spectrum of companies (services, medtech, pharma, biotech etc) so you get a diverse understanding of how different companies operate, how a company who has no cash but a stacked pipeline gets valued, etc.
If you want a sector team that has good deal flow and is fairly recession proof HC isn't a bad choice. Exit options are as they would be at any other sector team, but lets you specialise in HC hedge funds/PE funds of which there are a number.
It really depends on what bank you are at as to what the best groups are. Healthcare and technology are going to keep you busy right now at almost any BB bank. Also, consider where you plan to go after your analyst rotation.
This is almost certainly Wachovia...
I know a few guys in the Tech group there, and they work their asses off, but really enjoy it. They said the deal flow is good.
In the end, I'd go to a group you're interested in. If tech is your thing, go with tech. If healthcare, do that.
Do something that will keep you engaged. This job is rough enough as it is, let alone if you hate what you're working on everyday.
To add to that, how do the exit opps compare?
definitely not JPM.
I would first go with something that you are interested in. If you can not think of anything that you could see yourself enjoying look at the league tables. I went to their superday and some of their groups were very impressive, while some seemed downright terrible. Their Real Estate group placed very well into top RE PE funds.
no reason as well. just interest? healthcare does not appeal to me one bit at all! lol...
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