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April 30, 2024
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FSG should be your top choice. M&A doesn't have a good culture, and it's not really on the same level as some other BBs for exit opps.
advisory88: do you work at BAML? what is wrong with the culture/exit opps of M&A? what about TMT? thanks
Is their levfin and FSG combined into one group or two?
FSG is separate
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My information is pre-merger, so it might be dated, but I would have to disagree with Advisory88. If you are talking about exit opportunities, I would rank them the following way:
1) M&A 2) TMT 3) FSG
M&A had excellent placement into top PE shops and was probably only inferior to Goldman, Morgan, and a few boutiques. One year, they had people go to KKR, Carlyle, Warburg Pincus, and Providence. TMT has had pretty good placement into PE shops, with a few at the top tier, and then some at pretty good firms that were just off the top tier (recent years include Warburg Pincus, Carlyle, Providence, Oak Hill, Kelso). However, if you are a top-tier analyst in TMT, you should at least get interviews at the top firms. I don't recall Sponsors really placing that well into top PE shops (though I am happy to be corrected), and I would say that on deals involving LBOs, you'd see senior bankers from sponsors, but not as much of a sponsor team. As a side note, Lev Fin also has had decent success, with placement into MDP, Silverpoint, and Ares.
sorry for the ignorant question but what's fsg and tmt?
FSG - Financial Sponsors Group (think advisory for private equity firms) TMT - Technology, Media, Telecom (self explanatory)
financial sponsors group, telecom media and technology
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