DCM or Public Finance?

I'm coming from a non-target with ~3.4 GPA (although I think it will be around there by the time I graduate). I've completed several internships (including one in ER at a BB) and have held various leadership positions in school. I'm debating whether or not to take an internship with a DCM group or in Public Finance. (Both are at MM investment banks).

Coming from a non target, both these opportunities seem exciting and tough to get. I was curious to see if any of you have had experience with either of the 2 fields and what exit opps may be like at either. (I've read through a bunch of stuff on PubFin on this site, not much on DCM). I could see myself in either role - capital markets or IB. Both roles seem like they wouldn't be too modeling intensive, but with the PubFin I could have actual IBD experience that I could leverage when I apply FT.

 
Best Response
abacus2007:

do not do pub fin if possible. coming from a former pub fin guy who got out to M&A IB. Transferable skills are almost zero.

Do anything you can to avoid pub fin. probably best to avoid DCM/ECM too tbh. if you are gonna go capital markets go lev fin.

This. I would stay away from Public Finance unless you already know that it's what you want to do for the long-term.

 

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