Should I Apply to Sector-Specific Coverage Groups?

When applying to IB jobs, does it matter if the position is for a specific coverage group (I.e. Healthcare, Tech. etc...)? Throughout my networking, I've talked to guys who had not much prior knowledge on the specific vertical that they operate in. Obviously, if you go the traditional route of summer internship and get a return offer, you get placed into different groups. But this is my situation: I just graduated this past spring, currently working capital markets in a role that essentially feels like investor relations (I've stayed at the role bc it allows for job search easier considering its remote, they're sponsoring me for my 79 & 63, and it looks better to search for job when you have current "investment banking analyst" on the resume rather than unemployed). That being said, as i apply to jobs, i frequently come across jobs described as "IB Analyst - Healthcare" for example. If i apply to this job, is it expected that i know a significant amount about the HC industry. And if so, to what extent? What would i need to know to land a job. Or should i just avoid these specific positions? 

Thanks for all the help!

Comments (2)

Most Helpful
2mo
AngelOfMusic, what's your opinion? Comment below:

You'd be expected to just have a general understanding or view. No one is going to expect you to be a sector specialist but would just read a few articles on the sector you apply for and for each interview with different sectors, have a deal you can talk about, preferably a deal that team did. At the analyst level what's important is technicals and that you say "I enjoy the sector and find it interesting" but I would advice you have some interest in what ever sector you apply to. If you do get the job, you are stuck there for a year or 2 before exiting so want to at least enjoy the sector since everything else sucks

2mo
Teak, what's your opinion? Comment below:

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