I want to work in sovereign advisory

I really want to work in sovereign advisory at Lazard or Rothschild somewhere down the line. Fascinating stuff and seems like a business that could (and should) easily be expanded, given money matters a lot less to sovereigns than to individuals or institutions.

But two problems: First these groups are largely based in Paris and I have no imaginable connection to France and don't speak French. Second there's hardly any literature out there aside from a handful of articles, and I certainly haven't found anything on breaking in. Only relevant thing I've seen is this thread (/forums/sovereign-advisory-lazard-rothschild-others) with 1 reply, which suggests my best bet might be IB -> HBS/HKS joint degree. But that's easier said than done.

So..... if anyone has any relevant insight I'd appreciate it.

Btw my background: sophomore at target (in America)

30 Comments
 
Best Response

These groups are insanely difficult to get into. Students they hire usually speak French and have a double degree in both Economics/Public Policy and Finance. Having experience in FIG/DCM FIG is a plus. Interviews include questions about macroeconomics (e.g. “what is the uncovered interest rate parity”), national accounting (C+I+G+X-M), corporate finance, valuation and some markets questions (how do you price a forward rate etc.). So you have to be very well rounded.

 

I know it’s been 4 years lol but can anyone here make an educated guess as to why a DCM FIG experience is a plus?

I’m exploring a Sovereign Advisory career path down the line, and I just got a DCM internship, and still need to choose the industry group (Corporates, FIG or SSA).

I thought SSA or at least Corporates - definitely not FIG - would give me the most transferable skills for Sovereign Advisory, but maybe I’m wrong?

 

My guess would be that FIG is much more macro-economically orientated than any other IB industry group. Would like to hear other peoples' input though

 

Hello, I would also like to get information on how to prepare for an interview for sovereign adivsory groups? If anyone has ever been through the process ?

Victor Pierramonte
 

Hello ! I'll attend an interview for a sovereign advisory internship in a few days. I've been studying heavily, but I lack a collection of the most common questions asked. Do you know if that kind of materials exist ? Many thanks in advance !

 

Any chance anyone has any insights on the recruiting process for these groups? French student here interested in Sovereign Advisory, with a public policy and finance dual degree trying to figure out how to prepare for the interview process

 

Qui sed quo tenetur quia voluptas rem. Voluptas ullam necessitatibus ex quasi quam et asperiores. Consequatur consectetur veritatis voluptas magni reiciendis et iure. Illum aut quis repudiandae rem quo. Ut distinctio itaque sint dolor quis consequatur animi corporis. Consequatur quaerat et eius et molestiae minima nisi beatae. Nihil laboriosam sed consequatur dolor quo.

Voluptatem dolorum iste blanditiis minima velit. Veniam voluptatum sed qui numquam. Ut atque veniam aut omnis et dolores ab.

Est dolorem deleniti ut velit in repellat et. In aut quia aut pariatur. Qui distinctio et quia dolores ipsum illo.

 

Beatae qui aut ea harum qui. Expedita in omnis fuga. Ipsum iste et molestiae minima pariatur ut ullam. Enim iure incidunt enim velit enim.

Aut tenetur quis dolorum occaecati et voluptatem dolores. Quas velit quibusdam atque consequatur natus nobis odio est. Ut et tempora dignissimos repellat. Totam voluptatem dolor dolore rerum laudantium et asperiores. Provident distinctio exercitationem tenetur qui. Consequatur quaerat omnis atque culpa quaerat voluptatem.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”