HF recruting advice - IB Group selections M&A or FIG
Hey everyone,
I was hoping to post on the HF forum to hopefully eliminate the answers that will be as simple as M&A the end all be all.
After accepting an offer at a lower tier but strong BB for the summer (and hopefully FT) I am in the midst of the group selection process. My long term career goals are to move to a l/s decent sized firm. I actually enjoy pitching and buy sell process of- usually value plays- within multiple industries. I understand at larger firms you typically cover a group of investments or industries. Simply, on the buy side I have no real preference on industry.
Recently I was essentially given a reference by a VP within my bank to join the M&A team. While it isn't certain I was told it is more likely because he usually pushes very few, if any candidates. While I understand M&A is certainly the broadest experience and provides a range of buy-side opportunities, the nature of coverage and working on debt/equity/m&a/rx/ect. seems like it would yield a larger skill set/knowlage base that would be more applicable to a public equity l/s fund. I could be wrong. Why I'm asking.
I have to say yes to the referral soon and I cannot change my mind because that could hurt his ability to push candidates through in the future.
The other group that I have always the drawn to in banking is FIG. While I understand the pigeonhole argument, for an investments related job, I feel like the really niche, technical skillset from FIG would help in succeeding at many funds. I love the industry from an sell-side perspective, and at my bank FIG operates on it's own, without using product groups. Also typically there is a single analyst on each deal (great exposure).
Basically, from strictly a HF prospective, would joining a true fully coverage group (all models done inhouse) like FIG really pigeonhole my opportunities when working with recruiters or can a great story and network get past this. M&A is a fantastic team and I am sure I could achieve my goals but the nature of the FIG team has always been so appealing, both industry and the nature of the work.
Thanks! Any advice is appreciated. Many mentors say M&A or bust, many say coverage is about the same with HFs not so much with the PE shops.
Sorry for grammar! It's a forum lol
Hey Notrustfund, I'm the WSO Monkey Bot and I'm here since nobody responded to your thread! Bummer...could just be time of day or unlucky (or the question/topci is too vague or too specific). Maybe one of these topics will help:
Maybe one of our professional members will share their wisdom: The Warthog Chris-Pullen1 pianoman11686
If those topics were completely useless, don't blame me, blame my programmers...
i'm at a hedge fund. whatever you do you should do m&a not fig. no one in a hf respects fig near as much as ma
M&A no question. You can always specialize later.
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