I recently accepted a job at a middle market investment bank. From the research I've done, the incoming analysts do not know which group they will be in until we arrive. Each group in the bank has some sort of gathering/event and if you're interested you are supposed to show up and network. At the end of the period (about five weeks) we rank our top 6-8 groups (supposedly in no specific order). Additionally, the MDs in the groups rank which analysts they liked and HR tries to match the MDs interests with the analysts.
My issue is that I want to be in traditional banking (building the models, learning to value a company) as opposed to a position in S&T. If I need to rank up to 8 groups though, I may need to put one of the S&T positions down. I'm not completely opposed to S&T; the derivatives group or loan sales andboth interest me.
My approach is to find out as best as I can where the real deal flow is in this bank. What groups have the most going for them b/c obviously every group will try to say it's them. I'm trying to figure out the best position for exit opportunities, i.e. PE or a hedge fund. I've read online that some people think trading is where the real money is being made on Wall Street nowadays, but I've also read the opposite. This is precisely why I'm not too sure about a position in S&T.
If any people out there have had similar situations to mine, do you have any advice? What did you do? Are you happy with how things worked out? Is there an advantage to being in S&T vs. a coverage group? If so, what would those advantages be?
I'd like some insight and know if my approach is alright. I appreciate any guidance or suggestions. Thank you.