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April 30, 2024
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you need to give us a bit more...what do you want to do in the long term? please think long and hard about your answer before saying private equity or something on the buyside...that's too general. you need to be specific. You also need to tell us a bit more about the caliber of this "European" bank. Is it in the same tier as the one you're currently working at now? Or is it a boutique. Do you get a title bump or is this a lateral? And are you doing investment banking or project finance within corpfin for this bank?
Natural resources is hot hot hot hot right now, but it also somewhat pigeonholes you into energy. Energy is actually really interesting but I would say it definitely requires industry expertise. Is this your primary worry?
Sorry for the stream of questions. You need to tell us more before we can help you :)
I'm unsure what I want to do in the long-term, but I can say I truly enjoy leveraged finance right now. I'm not currently doing I-banking or project finance within this bank, I work in structured finance providing senior debt to PE firms for LBOs. I can tell you the caliber is much greater at the European bank because the one I am at now isn't relatively known for what my group does, it has another core competency and we were sort of just added onto it. Also, I do not get a title bump, I'd come in where I am at. What draws me to the offer is that although I may not enjoy the work as much, the company has a stronger brand name and I can tell you the people there are of a higher caliber with more credentials.
Sounds like you made your decision then. Sounds like there really isn't a positive for you to stay where you are
Well I do really enjoy being a generalist right now, but my question is - is it smart to begin a career in an industry group or smarter to stay as a generalist at first
If you want to be in a certain Industry group in the future then my advice would be get yourself into that industry group as fast as possible.
However that would just be me, and whether you may change your thoughts on the chosen industry group in the future. However it will give you an idea whether you enjoy that certain industry group on a much deeper level. As the work will be much more specific and focused.
If I understand correctly:
Current job: effectively, your role is to provide liquidity to PE firms, which corresponds to outsourced treasury type work at a at a bank (one of my roommates does something similar to you). This is operations work (analysis is used to run the business) rather than advisory work.
European Bank: Natural resources project financing, which would involve deciding whether or not to invest (advisory work).
If your goal is to move out of ops-type work and into a front office role, I'd take the European Bank offer.
I don't see how my role is ops. In short: we get a CIM from the i-bank or Sponsor. Model the numbers to detail leverage fixed charge coverage, capitalization, amongst other things. Determine if the company is a worthy senior debt investment by looking at the industry and the company's business value, and then provide the debt for the leveraged buy out. This doesn't sound like operations to me.
Eveniet quod et non sit natus. Consequuntur reprehenderit explicabo ipsum illo non et. Unde ut quae aut nihil.
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