Currently covering banks at a MM, is it worth it to cover restaurants at a BB?
Should I just stay put and do buyside recruiting?
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nodnkdsafklsdjf, way too quiet in here. What about these resources:
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If those topics were completely useless, don't blame me, blame my programmers...
if you find restaurants interesting do it. If you want to go buyside and cover the same sector do that. BB might pay a little more than current gig but don't expect it to be life changing.
As a person who went from FIG ER to consumer VC, I personally think restaurants are way more interesting and relatable in everyday conversation than banks. That said, I'd encourage you to give buyside a shot before trying that move
How much work experience do you have? What's the comp in vc like? I wonder if covering a less nuanced industry would make my expertise less valuable
I'd emphasize a sector you're interested in over the nuance and specialization of the sector. Financials can be super nuanced but I would never want to read another bank 10Q/K or regulatory filing ever again in my life; way too dry for me.
I covered banks for 2 years and went to consumer VC for 2 years before going to a cannabis startup. VC comp is all over the place but mine was right in the middle: 120-150k and 20-60k bonus
I cover banks rn. Do you think consumer er pays as much as vc?
Covered restaurants at one of my prior gigs...was honestly a blast. Easy to understand product set, so you can start developing opinions on relative company strategies (I.e. what will work, what won’t) at a much earlier stage than more technical/nuanced industry verticals. In general, management teams are nicer in the food business and channel checks end up leading to a lot of free meals.
Outside of my short-lived stint on the buy-side, my entire professional career is in energy. I have been doing energy ER for a grand total of two days at a boutique now and already want to go back and cover restaurants, FWIW.
Do youvfeel like your stint in the buyside was hurt my the restaurant sector being overly simple?
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