FIG IBD - Next Steps?

dollabillz's picture
Rank: Baboon | banana points 135

I'm finishing up my 2nd year in FIG IBD at a bulge bracket, but not a top one. I haven't yet figured out what to do next and could use some advice. Options:

1) Stay in my group for a 3rd year.
My life is pretty easy right now, not much work to do and with 2 classes of Analysts below me, a 3rd year would be easy. I could spend most of my time trying to recruit, and hopefully find something semi-decent with an immediate start at some point. However, I did not have much luck with the main headhunters as I'm not in a top group. Most interviews I've had in the past year have been smaller firms that I found through the smaller headhunters or job websites like Onewire. And I don't think I have the transaction experience that buy side firms are looking for. Also I am sick of my group.

2) Try to switch to another group (Leveraged Finance / M&A / TMT) within my bank for my 3rd year. This does not seem likely right now according to HR as those groups are not hiring, but a spot may open up later. Not sure if it's worth it anyway to start over again in another group and have to work tough banking hours. I sort of just want to quit IBD altogether and find a job I enjoy. However, having only FIG on my resume definitely fucks me over so perhaps it's worth trying to do and stick it out for a couple of months, and hopefully find another job fairly quickly.

Thoughts?

PS. For anyone wondering if FIG is that bad, yes, FIG sucks.

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Comments (9)

Jun 4, 2012

How about you try to transfer to a more widely known FIG team like GS, MS or LZ? That way, you'd get the exposure that headhunters and funds like, wouldn't you? Those groups have a crazy dealflow (at least in Europe)... I'm not sure it's such a bad place, but if you say so...

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Jun 5, 2012

Nah dude the last thing I want to do is more FIG.

Jun 5, 2012

What's your background? Could you do a third year and then go to b-school and use that as a career changer?

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Jun 5, 2012

What is it that makes FIG so miserable? I understand the exit ops are limited from lack of transaction experience, very unique valuation techniques, little transferable skills to other industries, etc. But what about the actual day-to-day makes FIG worse than other coverage groups? I have heard this from several FIG bankers I know but have yet to get a good answer on why it's so bad. Most of them simply complain about the exit ops, not the job itself, which is a perfectly fine compliant. But if someone is interested in banking for the long-haul, is FIG coverage really that bad?

Jun 5, 2012

I'd be interested to know the answer to this as well, everyone says that FIG is terrible (in terms of hours etc...) can someone working in FIG like the OP shed some light on this?

Jun 5, 2012

go to B-School

Jun 5, 2012

you still should be able to recruit for hedge funds I'd think. As long as you understand how operating models work and have a perspective on investing -- you should be good.

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Jun 5, 2012

you still should be able to recruit for hedge funds I'd think. As long as you understand how operating models work and have a perspective on investing -- you should be good.

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May 22, 2014

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