What is the toughest part of being a coverage banker? From a technical modelling perspective, I have always thought that M&A modelling is handled by the M&A group while ECM takes care of capital raises. So do coverage bankers focus mostly on the relationship-building aspect of the business and perhaps have some kind of input into the work done by M&A / ECM groups. P.S. I am not in banking so some of my questions might sound silly but would appreciate any insight
17 Aug 2019
When applying for a coverage group, obviously there will be many classic IB interview questions. However, how much technical knowledge do you must have about the industry? I have to clarify that this is for an internship position. Also, this internship is simply called "Coverage Banking Internship" and then you would be allocated to one of 3 industries. So perhaps there will be no focus about the industry during the interview. In this case, should you specify on your cover letter and during the interview your preference for this industry? Thank you in advance
21 Jul 2020
Buddy is going through the group process - want to know best rated groups at JPM NY in terms of prestige, exit opps, pay (culture completely irrelevant... my buddy can grind if he/she has to). Thanks
09 Apr 2019
Hi everybody, I know that there are spread discussions here and there on WSO, but as I am now applying for jobs in IB and realistically will enter the job market in Jan 2015 (signed a contract for a grad program), maybe before (I got an interview on Monday for a short internship), I was wondering what really does a COVERAGE TEAM do in IB. Could anybody share their own experiences? What does the coverage team do on a daily basis? Hours? Etc... All answers appreciated, particularly from those in the market already. Thanks in advance.
24 Sep 2014
Since queueing up a handful of meetings, coffee chats, and quasi-interviews, I've begun to think a lot more about markets/sectors/industries that I wish I knew more about-if anything, just for fun and for the sake of engaging conversation with colleagues or in interviews.
09 Dec 2014
what are the most common deals that an analyst will work on in a coverage group? what would you consider are the most valuable/complex deals, M&A? what % of time is spent pitching deals vs execution? Thanks.
15 Mar 2009
Recently finished as a summer analyst in a LevFin group of a large non-BB bank (BMO, WFS, RBC) in their east coast office. Not wanting to risk ending up with nothing, I accepted a full time offer to comply with exploding offer deadline. Problem is, I don't want to do debt long term and I don't find the work that interesting. The group has a lot of deal flow but it's overwhelmingly refi's and pro rata type stuff with very little to no sponsor work. My biggest problem (and the main reason I don't find it interesting) is that almost all of the analysis/modeling is done outside of the group. I'm
05 Sep 2015
Hi! I would like to know about the Credit Suisse autumn internship program: What groups are interesting to work for? Which have the best recognition in the investment banking industry in London? Which ones are likely to experience the largest deal flow over the next months? Also, in general, if an IBD is divided into Product Group (M&A, IPO, etc...) versus Industry Coverage and Country Coverage Groups, to what extend will the two later be involved in actual transactions? Aren't they offering more a kind of support function? Thank you in advance for your answers!
08 May 2009
Has anyone made the transition from a coverage group like Healthcare/Energy/FIG/Real Estate into product groups like M&A? How difficult was the transition? And now that you can reflect back, was it worth it/did you make the right decisions? I am going to an Oil and Gas group next summer. I like the industry and think it is really interesting. I am just worried about pigeonholing myself, and would like to know the availability of other options. Any feedback or insight would be really appreciated.
08 Aug 2018
Hi, 2 random questions I have trouble with: 1) What is the chance of moving to PE after +/- 2yrs as an Associate (post MBA) in the BB's COVERAGE group? How different is that chance compared to M&A product group? 2) How can I find "perceived prestige/reputation" of various coverage groups within BB? I know I can check deal flow for '09, but is there any informal/unspoken ranking or insider's knowledge? I am mostly interested in Consumer and Healthcare groups in NY. thanks!
26 Jan 2010
Do certain coverage groups have one product that comes through them more than others? For example would an Industrials Coverage Group see more debt related products compared to a Tech group? Would the a coverage group at Bank X see different types of products than the same coverage group at Bank Y?
09 Dec 2013
I'm looking for some resources to help give me a better idea of what it's like working in the various coverage groups at a bank. Is there a website out there that has free investment banking case studies? I've seen some helpful content on this site and M&I, but I'm looking to dig a little deeper. Also, any other advice on bulking up knowledge of a particular coverage group would be much appreciated. Thanks
09 Jun 2017
Disclaimer: I am requesting for someone on WSO to submit a "Day in the life" post of thread. WHY? --- I am currently working with HR to secure a move internally into coverage banking/into the coverage group in IBD (I am coming from MO, but with FO experience). WHAT I WOULD LIKE ANSWERED --- 1. What are your responsibilities? 2. What does a usual day look like for you? (Hours, work load, used apps (excel, modelling etc) 3. What is the pay like? 4. Is there a difference between coverage banking and IB? If so, WHY CB over IB? (At my bank it's lumped into one CIB) 5. Do you have any advice on how
08 Jan 2017
Hello, As the title mentions, I secured a FT position during my SA stint at a BB last year but the offer was generalist. However, in the past few months I have start talking to previous contacts at my firm in order to get into a specific group. Soon I will be meeting with a group for the day to get to know everyone and to see if I am good fit. My question is what should I expect for the day as far as questions asked of me? Should I expect technical questions and behavioral questions or will it be a longer version of a typical coffee chat? I would appreciate any advice given. Thank you
21 May 2014
Hi all, Curious to know if anyone can recommend any books/websites/resources etc... that focus on specific coverage groups in general, and TMT in particular. Suggestions would be appreciated. Cheers, BR
25 Oct 2012
Do you guys have any advice to break into TMT groups? Do BB and tech boutiques look for anything particular on resumes when evaluating candidates? I really want to work in this space but I'm afraid that my business curriculum isn't enough to convey my interest. Any advice would be greatly appreciated. P.S. I'm not just another whore looking to break into GS TMT. Thanks for the help :)
03 May 2011