BB FIG vs MBB for PE+HF

BB FIG unless its M, then its depends on which BB.

Pike, if you manage to get into PE from a consulting background, will you ever catch up to your peers from BB IBD backgrounds in terms of analytical/modeling skills?

Actually Pike, its more likely that if you get a day off in banking its a Saturday. Sunday is usually a big work day because you need to get stuff done for Monday.

Also, depending on the BB and location (regional vs NYC), MBB can all be better than BB FIG (it depends on the group and the firm). Each situation is different, and the question is a little broad. There's no way you can adequately answer this question without more information. Also, PE and HF recruiting are quite different.

So does FIG really pidgeonhole you for PE/HF recruiting? I've heard arguments both ways: one one hand, financial institutions have unique models, and hence the skills learned from FIG modeling are not directly applicable to other industries. On the other hand, analytical skills are analytical skills, and given that FIG is arguably more complex than most industries (and since FIG groups tend to do their own M&A), analysts coming out of FIG groups are well-positioned for post-banking recruiting.

Thoughts?

Guys thank you for your answers. Here is some more information: The Location for the FIG group is a continental HQ and the BB is strong. The issue is that I know everybody who interned in this IB told me: "Just make sure you don't go to FIG, these guys get killed WAY more than the other chimps."

I have some friends who worked at MBB in my country and I can tell you the lifestyle is MUCH better than IB (they don't travel that much, maybe this is because I am not from the US).

I'd say FIG analysts are inherently disadvantaged when it comes to megafund recruiting. Think about it, the M&A analyst will live and breathe EBITDA and modeling skills/lingo relevant in PE in the 6 months leading to megafund interviews, while you'll be trying to grasp what are maturity profiles of liabilities. You'll also be busting your ass off working in FIG so won't have much time to study LBOs and prep for buyside recruiting.

But GS FIG places extremely well. Where is the MBB office at?

Some FIG groups include EBITDA-based verticals as well (e.g. Financial Technology). Check with the specific group you are recruiting with.

My group will be pure FIG (Banks & Insurance) and the MBB gig is in the capital of my country.

I don't know about PE (consulting isn't as good as IBD for placement, but FIG tends to have a tough time with headhunters and firms, even at the top shops with the exception of GS). Have spoke with kids from MS/JPM FIG and they said their opportunities were limited by FIG.

If you want to do HF though, FIG is much better than MBB, and might even be better than other industry groups

Why do HFs place a premium on FIG experience? Is it because it's more complicated, or do HFs simply like investing in the financial institutions space?