I got lucky and most likely I will be able to select a team for my internship. I am equally interested in Tech and Media & Telecommunications, but unfortunately the bank I will be joining splits the two into separate teams.
Which of the two would you recommend and why?
I am interested mainly in lifestyle and potential exit opportunities as culture is really team dependent.
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I would choose tech as tech naturally leads itself to a wider variety of exits than most other coverage groups (e.g. buyout, growth, VC, corp dev, etc.)
Wouldn't you say that Media&Telco gives roughly the same opportunities (might require more efforts for VC or a growth fund compared to Tech) while offering better exposure to modelling?
I heard opinions that Tech modelling is a bit less technical compared to other groups.
What's so much the allure of modeling? As long as you have a baseline proficiency in modeling, you should be good, regardless of industry. There are nuances to tech that can make modeling more difficult like bookings, recurring revenue, and S&M ramp times.
I can't speak to M&T modeling.
Lol telco modelling is a lot more complex than tech.
Tech is usually equity stuff, early stage.
Tech, generally provides more post IB optionality than M&T, but M&T will possibly offer more complex transactions due to debt and complex financing vs. Tech.
Depends what you're looking for really- tech is the group most people want creating more competition (less of an issue as an analyst, but as an associate, you will have an uphill climb to fight for VP+ spots with so many others ahead of you). There are a lot of changes occurring in M&T (granted more slowly), but I can see this being a solid choice if you are interested in entertainment industry corpdev exits (like disney, spotify, etc.) or media PE like Raine or Sports exits.
At the end of the day for an internship, I wouldn't overthink this beyond which team members you connected with most. For an analyst its just 2 years and you can easily play your M&T experience to a Tech exit and vice versa. If you're an Associate you def need to think bigger picture and I would lean M&T to create opportunities for promotion vs. Tech which has high interest and makes growing in the group very competitive.
Yep, u got lucky , mate!
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