Why are certain sectors seen as more prestigious than others? For example, tmt is perceived as more ideal than fig, would this be because of the exit opps?
How about tmt and consumer - they’d have similar exits, and consumer industries could be more interesting to work on
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Some sectors are difficult / highly specialized and technical so it’s difficult to apply the skill set learned in sectors like energy or fig to a consumer investment role
moreso deal flow/deal sizes/fees, less so sectors, different sectors have different prestige at different banks
ex: tmt is gs' golden child, m&a for ms, m&m for bmo, fig for citi, industrials for cs/first boston, rssg for pjt)
HOWEVER the caveat is that some sectors will be above average across all banks, such as fig or tmt
If Citi's strong suit is FIG then the company is really in shambles. Citi can't even compete with BofA in FIG let alone JPM/GS.
Guy probably doesn’t know much about Citi, not a big deal. Citi’s best industry groups are energy (oil and gas) with a wide gap to power & utilities being #2.
Group dependent but some are certainly more interesting than others
Some sectors are just more publicized so the incoming candidates are naturally more inclined towards them (especially tech, retail, media etc are among such sectors). Financial institutions, oil&gas, renewables are much more niche and require an already like minded and passionate batch of juniors to hire.
Lol people even if passionate about infra and energy won’t be when they work on their first model
Well, investment banking in the long haul is not about building models or spawning decks. Having a passion about a particular sector is a much better asset for a junior than being an excel monkey - which is a ski ll not that hard to develop anyways.
It’s only prestigious if you’re in a top group but people should work in sectors that interest them not what is perceived as prestigious
Some sectors tend to have more sponsor related deal activity than others which could better translate to talking points during a PE interview
Any sector that gives you good experience for interviews is prestigious to me
It would be better to work in more relatable sectors like food and beverage than fig for example
you tell me, what's the difference between covering Gaming vs. Healthcare/TMT. I bet you have a preconception that Healthcare/TMT seems a better place to be. There are human assumptions behind what type of people are interested and cover ceratin sectors. But as perception is relative, this prestige isn't absolute; thus prestige, in order to be absolute, must be tied to some objective aspects and as someone pointed above, for banking, that is deal flow / exits / seniors in the team / etc. but still people may have misconceptions thinking that TMT may be full of nerdy-inclined bankers and Oil & Gas full of rednecks. It sounds so absurd that I'm not sure I even heard someone say that a sector is more prestigious than another. Banks yes, groups in certain banks yes, but sectors never.
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