LevFin FSG vs Coverage vs Energy vs Infra/Project Finance
Hi All,
I'm looking for a bit of advice, in particular, the best team for career growth and long-term total comp. I'm currently a Corporate Banking Associate (Structured Finance Portfolio Management background) and having worked very hard to build my rep, the following options are available to me:
- Financial Sponsors Group/LevFin/Venture Debt
I have an interview for the Financial Sponsors Group within LevFin; in particular, the role is for a sub-group within FSG focussing on Venture Debt. I've been told that there may be the occasional MM deal which I can get my hands dirty.
Edit: With this role, there is a slim chance I can work my way up to proper LevFin. Although in the current bank I am with, seems that the only difference between FSG and LevFin is that LevFin runs the Non-IG DCM role where they do the work for HY Bonds.
- Coverage
The Coverage role involves 'owning' and 'developing' the relationship as you'd expect in Corp Banking but is only focussed on Origination i.e. the team doesn't get involved in standard accordion requests, payment queries, or the likes. The Associates also gets involved in a fair amount of modelling and pitching to get M&A/LevFin/Infra mandates. Is this more IB Coverage than Corporate Coverage?
Edit: I have a good relationship with the Director/Hiring Manager for this role. He's offered me the option of working on Corporate Coverage (TMT/Consumer & Retail/Industrials/Energy) or FI Coverage (Banks/Insurers/Funds). If I go down the Coverage route which option offers the best comp and exit opps?
- Energy Structured Finance (similar to Project Finance)
Another possible alternative for me is to lateral into Energy Portfolio Management - already got offered the chance - then prove myself before transitioning into Energy Origination. The Energy Team sound exciting with deals in Energy Storage, Energy Distribution, EV Infrastructure, Alternative Energies (Hygrogen/Biogas) etc...
- Project Finance / Infrastructure
Least likely possibility as I have zero contact or rep with the Infra/Project Finance teams. However, I am on good terms with the MD who heads up Coverage for the Power & Utilities clients. He is open to brokering a coffee between me and the MD for the Project Finance team. Deals are standard Offshore Wind, Hydro, and Solar.
Which option is the best for career growth? (I'm tired of low margin and low growth business in the Corporate Banking world)
Which option will give the best comp in London (Base/Bonus)?
Disclosure: I'm not in a BB currently.
Many Thanks
Bump
Fsg seems best.
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