don't think coverage groups are worth it
Currently an analyst at a solid coverage group at/ CS / . I have been very annoyed at my experience. It seems as if we just create profiles, do and make charts. I have been fortunate to been on a couple of M&A deals too and our role has been limited.
It seems as the skills that are considered important at the junior level in finance (modelling, managing data rooms, buyer outreach etc.) are all done in M&A groups. Headhunters also look down upon coverage group kids and it is much more difficult to practise for modelling tests if you don't do it in your day to day role. While M&A analysts get to model everyday, we are making pie charts.
Thinkclassics / EBs provide a much better experience in banking.