BB ESG Coverage
Seems like some BBs and MMs (e.g CS, Barc, RBC) are setting up coverage groups for ESG-related corps. Do you think these teams would provide good opportunities in the long-run?
I think being in a group like this would give interactions with some truly innovative companies, and ESG seems like a good specialisation for the 2020s (hopefully leading to interesting opportunities e.g impact funds). Also, being in a newly-formed group like this could be a key differentiator because so few people will have the same level of ESG analyst experience.
On the other hand, if the goal is to move to the buy-side after a few years then maybe it’d be safer to stick with a traditional coverage team (e.g tech, industrials) that would likely work on bigger deals and have less uncertainty.
Interested to hear what others' thoughts are.
sure if youre ok with relatively less M&A work
No
Interested as well
Bump, interested in as well. What do the exit opps look like for ESG specific roles and is the specialisation worth the reduced exposure to the traditional skillset ?
Current analyst at a BB with an ESG team. I am not sure how the other banks are structured, but our ESG are almost more of a product group than coverage. Typically, clients looking to learn more on ESG will have a meeting/call with the ESG team to discuss disclosures and investor relation material. This is generally not transaction based.
There are a few new coverage team that focus on high growth clients with an ESG-based business usually in the Industrials/Technology/Energy space. This group is typically considered of Climate/Energy Tech instead of ESG though.
can confirm this is accurate. better exit ops (even ESG-specific) to start off in a traditional coverage group. ESG groups are all marketing and disclosure, no modeling.
what is the pay is such groups? the same as IB coverage? what is the usual bonus?
interested bump
bump
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