Which SA for FT IBD?
Two offers: One is in the Finance division of GS/MS in NYC
Another is as an Investment Summer Analyst with Prudential Capital Group, they essentially have a $70B portfolio that they invest in investment grade debt, mezzanine and some equity. On linkedin, some past analysts have exited to MM PE/ top b schools. Not in NYC however
If my goal is FT IBD at a BB or top MM which would be the best route to take? The PCG position is probably better in terms of experience given the modeling, transactional nature and client focus, however GS/MS brand combined with NYC location would be great for networking. I am from a non target so networking is my only option.
Finance division is not a front office role. And the skills are hard to be called comparable to what you would gain in an investing role.
Networking is still plenty possible if you're not in the same location. I've seen it done before. Email, Phone call, and eventually getting an interview during the full time process is a lot less about building a relationship that would need face to face contact, but more about impressing the contact so that they might forward your resume or push for you.
The transition going from mezzanine debt investing to investment banking is a lot more logical and respected than going from finance to investment banking. The story is smoother, the investing role would catch some attention, you will be able to show that you at least know what a basic IBD summer analyst knows. As a finance summer analyst, you are working your way up and have to make up for the lack of knowledge and impress them.
I would highly recommend the Prudential role, as work experience and nature of the role trumps brand name in this case.
Got it, I definitely agree. Going through Linkedin many past analysts from Pru have gone on to Booth/Tuck and buyside at Fortress/Guggenheim/MM PE
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