Hi all, I've been doing some digging through past threads but all of them are really subpar. What are the expected exits opportunities for working in IBD at places from HL, Blair, Baird, Macquarie, Stifel, Jefferies, Piper Jaffray, Harris Williams, SunTrust, Raymond James, etc etc? I feel like there hasn't been a great discussion on this and it it probably more relevant to a lot of users instead of comparing GS TMT vs. EVR M&A...
24 Oct 2019
Can someone provide insights on Wedbush Securities (LA)? Specifically their ER dept? What % of summer interns get full-time offers at Wedbush? And what do the exit opportunities look like? Can you transfer into IB later? Can you get into ER at some other top firm (JP, Goldman, etc)? How does the compensation compare to consulting firms?
13 Apr 2021
Hi all! I was curious to learn more about the debt fund or direct lending recruitment process, if it's on the same timeline as PE, and what to expect in the process. Currently, I'm at a BB group that specializes in underwriting leveraged loans (mostly sponsor deals, acquisition financing, and recapitalizations), which includes a lot of work in exchanging and negotiating grids and credit documents with the client. It doesn't involve any modeling. Can anyone please shed some light on where I would stand or what the process looks like in general?
26 Aug 2019
Have internship offers for both GS Global Market (S&T) & Google Associate Product Marketing Management (APMM). For further context, I did the Global Markets internship last summer and liked certain aspects of it (pervasive markets knowledge, some technical financial knowledge, and securities analysis, compensation) and disliked many others (long hours, lack of substantial practical work, few areas to show creativity, menial and mundane work etc.). Google APMM Pros would be: better work-life balance, more practical work, higher starting compensation first year-post grad (if I get a return and
09 Jan 2021
To echo the post from Tier2Sta, I also handed in my resignation today after nearly 10 years in finance, primarily in IB, at both the BB and boutique level. I don't have quite the negative view that he does. There have been many times over the years that my job has absolutely sucked, but it has now put me in a position to pursue something entrepreneurial. This is my shot to swing for the fences and hopefully make it really big. I have the financial stability and access to the right people to make it happen. Without banking, this may not have ever been an option for me. Yes, banking comp will be
01 May 2012
As great as PE sounds, I've been thinking about some other options post my analyst stint at an EB. What sort of roles would I find at a Fortune 100 company that share a skillset with banking? Would I necessarily be sacrificing Comp for hours? Would I still be marketable in finance after a few years? Or would an MBA be the next step if I wanted to return to finance? Thanks guys
10 Dec 2020
I'm currently at a buyside shop (bank) focused on broadly syndicated loans and looking to make a move to either a bigger shop with more career upside (a scalable CLO platform) or a more opportunistic credit platform (MM/BDC, junior debt, stressed/distressed) . I have had reasonable success getting interviews and varying success moving through the process (finals rounds/offers or dinged in the 1st round) with no real correlation to the type of strategy of the fund. Some firms are happy with my base knowledge and willing to train up, whereas other shops have dinged me after the first round due
07 Mar 2019
How do the exit opportunities of a ~$2-5B fund compare to that of MF/UMM? While it's hard to calculate, how should one weigh the pros and cons of each in terms of exit ops? (assuming they would like to stay in the industry and cannot stay at either choice after 2-3 yrs) B-school is also an option
22 Dec 2020
So I'm curious about MUFG's exit ops considering they are a rather large bank without a typical IB department. What do their exit ops look like for the corporate advisory/project finance groups as-well as some of their other groups?
19 Aug 2019
I recently landed an IB gig at a prestigious desk, thanks in part to clever GPA rounding techniques that I learned on WSO. It has been several weeks now, so naturally I'm looking for exit opportunities. Most analysts/associates tell me that the best exit is the same way I entered. However, since I've been working 180+ hours a week I haven't had an opportunity to leave the office and am not sure where the exit is. I've heard that some analysts exit through their window, which I find strange because we're on the 37th floor.... is this a good idea? Any feedback is appreciated. Thanks guys!
03 Mar 2011
How exactly does the quitting process work? Like what day should you quit and how close to your new start date? My contract has 4 weeks notice but do most firms expect you to hang around that long? How do I tell my team, and should I tell them where I'm going - I dont think theyll be very angry when I quit but I'm not sure how happily they will bear the news?
26 May 2021
Product Management intrigues me. I had always understood it to be a highly interdisciplinary role drawing on elements of engineering, finance, marketing, and (obviously) management, but I hadn't done any in-depth analysis. I've recently given the field a closer look, however, as the trend out here on the West coast seems to be to jump ship from Analyst gigs one year in to take up PM roles at startups. In fact, two good friends of mine left their Analyst roles (one at a BB and one a former colleague) to do just that. Both left after a single year in banking, and both couldn't be happier at
25 Jun 2012
I've been exploring the WSO CRE forum for the past few weeks and wanted to ask a question with my first post about potential exit ops for the job I have lined up. Currently in my final year at a non-target state school on the West Coast. Interned for a top national CRE broker after my sophomore year and interned on the origination side of a bulge bracket CMBS lender after my junior year. I've accepted an offer to return to the CMBS origination group after graduation. I'm planning on staying there for at least 2-3 years depending on what opportunities present themselves. My ideal end game is to
24 Nov 2015
Hi Folks. I am a PhD candidate in a STEM field at Stanford. I've decided that academia is not for me, so I have been exploring various career options. It seems the two most reasonable options for me are management consulting and R&D at a DuPont/3M/Dow Chemical. I've been working hard on getting the case studies down, but I've recently asked myself "What's the point?" A post-PhD MBB consultant makes, say, $200k all in. R&D scientist is closer to $80-90k. No brainer so far. However, the difference between the two career paths seems to really drop after the two-year stint in MBB. A Glassdoor search for "strategy manager/senior manager" shows that a typical Fortune 500 manager in strategy makes about $110k-130k. This seems like a pretty typical exit position for an MBB consultant.
13 Jan 2013
Does anyone have any experience with Mesirow Financial in Chicago? Specifically the Investment Management Division? I'd be really interested to hear about your experience. How is the culture? What can an entry level analyst expect for base salary/bonus? What kind of exit ops are there? Really appreciate any help.
14 Oct 2010
I've been speaking with a family friend at GE Capital and I'm pretty sure that I could get an offer there for their rotational training program (Full time employment). I'm also looking at JP Morgan's analyst program. What are my prospects for B-School from these opportunities. I have a solid GPA, currently 3.7 will be at a 3.8 or better by the time I graduate (from a top 50 undergrad bschool). I'm living in China for my junior year of studies, class president, etc. Would either career choice give me a better shot at a top 10 program? Thanks for your feedback.
28 Sep 2010
Hey all, So I am on board to start a a top LA IB office(Moelis/CS/GS) this summer, and I am wondering what the exit opportunity recruiting scene looks like in LA. I know most banks here only have 5-6 analysts per class, so there should theoretically be a much smaller pool of analysts shooting for the exit opps, but then again, LA isn't exactly a finance hotspot... So does anyone know much about the PE/Hedge Fund recruiting scene outta LA?
31 Jan 2012
Everyone always says GS/MS/JPM and M&A/LevFin/Sponsors for exits into a megafund after two years. When you take a step back and look at it though, that is a grand total of 8 groups, which is probably about 60 or so analysts a year. So, for everyone else coming from a BB that is not necessarily the best, or a group that is not considered the best for PE exit ops, how does one get into a megafund? I know school, gpa, scores, work performance are all important. But what else can help someone get into a megafund? Basically, how do you distinguish yourself from the pack of "mediocrity."
29 Sep 2010
March Madness is well underway. And after the first weekend, many brackets have been obliterated already. One of the great things about the NCAA tournaments are the stories that emerge as new star players and coaches are minted. This one really caught my eye and is a great tale for those considering exit ops. Andy Enfield founded a startup, married a lingerie model, cashed out left the street and now is coaching basketball for Florida Gulf Coast. Check out this article about his life. http://www.washingtonpost.com/sports/colleges/florida-gulf-coast-coach-…
24 Mar 2013
hi, are there any non-finance exit ops for operations analysts from BBs? for example to consulting? what sort of options are available if i do an MBA after a few years in ops? thanks.
09 Sep 2012
Consider: quant trader position. Equity stat arb, holding period on the order of days. Mainly US and some international equities in the major overseas markets. The job is to create, backtest and implement high Sharpe stratgies. Checked the search function, couldn't find answers to these questions: 1. How long is the learning period for a job like this? Ie, after X months, they kick you out if you don't come up with a winner. I'm guessing X = 6? 2. What's compensation structure like? What % of the PnL should you get? If you are a fresh Ph.D., what salary should you expect? 3. What are the exit ops? Unlike a BB flow desk it seems like you are training in a very narrow skillset and product set.
05 Apr 2012
I was wondering what the exit ops would be from UBS Equity Research group. From what I've seen, UBS ER (NYC) is ranked 4 in the US by Institutional Investor, and the bank's Equities (which is S&T and Research) division has a very strong reputation. They have a huge trading floor in Stamford, etc. But UBS ER is part of UBS IB, which just announced terrible, terrible bonuses for the 2nd year in a row. I'm looking at post-MBA opportunities, and I don't want to get screwed by going to a terrible place to work. Apparently, when UBS zero'd out the bonuses last year, many MD's left the bank. According to this thread in Dealbreaker, the flight will continue as the Associates/Analysts are going to start leaving. FWIW, both Goldman and Merrill guys are also loudly complaining about bonuses, but this seems worse. http://dealbreaker.com/2010/02/bonus-watch-10-ubs.php So anyway, is it a bad idea to join UBS ER as a 1st Year Associate? What are exit ops going to look like for somebody with UBS on their resume? I have worked very hard and don't want to get stuck with shit bonus and nowhere to go.
19 Feb 2010
So I just got my offer letter to join ECM group at a BB that expired today, and I sent it in. It was my only offer despite numerous attempts at networking along the way. I feel like this offer is worthless and I'll never get to where I want to be (HF). I just see no exit ops at all within ECM and feel honestly like it's going to be almost impossible to get into coverage. Do you guys have any uplifting stories or something to make this easier? All I know is that my only real chance is going to be after 2 years in ECM...I might as well have just went to business school at this point. Do you guys think I should try for Duke MMS?
23 Sep 2014
I can only assume not every IB analyst becomes an associate, and not every associate becomes a VP, then an MD or goes into a lucrative buyside career. What happens to those people that don't successfully climb the ladder then? Are they a majority or minority? Where do they end up working and how does the pay look?
19 Apr 2016
Hello everyone, Would you guys and gals be able to provide some insight into Macquarie's West Coast (SF,LA) IB operation? Deal flow, deal sizes, industries covered, reputation, exit ops, etc. Thread responses and PMs are welcome. Thank you all!
17 Feb 2015
Currently working in a FoF Infrastructure and although I enjoy the company and the role I am concerned about the FoF future as a whole vs direct investing. Our main focus is primary investments, and we have some % of the commitments reserved for co-investments and secondaries (which I really enjoy). However, as you know, co-investments normally arise after you have committed to the GP fund, and as a minority investor. I would welcome your views regarding: - Which routes FoF allows me to take? - Which skills would realistically help to land other sophisticated routes? Note CFA is done. Thanks,
10 Dec 2020
I recently began entertaining the idea of moving out of consulting, and ran across the Brand Specialist role at Amazon. I've been at a non-MBB firm for the past two years, and with the limited scope of work that we perform, felt like I was beginning to become "pingeoholed" I was wondering if anyone was familiar with the role at Amazon, or had any insights on working at Amazon in general, preferably outside of a technical / engineering role.
15 Dec 2012
I have an opportunity to work as a Financial Analyst 1 with Siemens. I'd be working in their at their biggest Energy Plant in the US, mainly doing cost analysis and budgeting on turbines. The job description is as follows: • Reconcile by Profit Centers and Account between 2 SAP instances • Track Progress of Data Cleansing • Make entries to clear SAP transactions • Ad Hoc support and Reporting for SAP Migration Topics • Project Reporting • Kanlog Valuation Data • Month End Report Downloads and Analysis • Create and Update Monthly Project Cleansing File (Excel) • Cost Center Reporting • Daily Costing Runs • Month End Report Downloads, Creation, and Analysis • Opening new Orders for Costing and Product Change Material orders • Journal Entry creation and storage
29 Apr 2011
Hey guys, 1. What are the main differences between Big 4 restructuring and restructuring at a bank? I have heard of one Big 4 Restructuring group doing doing distressed M&A deals, but do all of them do this? 2. Does anyone have any insight into exit ops from Big 4 restructuring? Do some exit into distressed debt PE/hedge funds? Would a mega fund like Oak Tree take a guy straight from Big 4 restructuring or no? I have heard of some folks hopping over to Restructuring groups at banks after a Big 4 Restructuring gig (heard of one top 3 Rx group that took a big 4 restructuring guy), but I'm not
11 Oct 2014
Any thoughts on CS's GLobal Industrial Services group? Is this a top group? Would an analyst in this group learn a lot? What will the exit opps for PE be like? Any help would be greatly appreciated.
24 Mar 2010
Hey guys, I just got a SA offer from a Big5 Canadian bank. I'll be working in their Montreal office this summer. I plan on busting my ass in order to get a return offer (they made it clear to me that if they liked me I would be getting one) for full time because I honestly don't feel like going through recruiting again and taking the risk of ending up empty handed. The office is relatively small (10-15 employees) and we are all "generalists". What kind of exit opportunities do you think I would qualify for after a 2-year analyst stint? Is this solid enough to head to PE/top MBA? I really would
27 Jan 2012
Hi WSO fam, This is my first post - even though I've been reading these forums for a while now. So hello, and thank you to everyone for all the incredible insight provided on these pages. I have two job opportunities lined up - one in VC/Growth Equity and one in Prime Finance: 1) A client service role in the Equity and Fixed Income Prime Finance department of a top 10 BB 2) A analyst position at VC/Growth Equity startup The client service role will give me an opportunity to work in a BB's investment banking division, give me exposure to the traders and institutional clients, and will give me
30 Aug 2018
Every other thread is talking about exit opportunities and how you should do XYZ because the "exit ops are better". Personally I feel that life is a pretty twisted journey and is you are smart and take advantage when the opportunity presents you will be successful and happy. Frankly, if you are in IB, regardless of the group, firm, part of the country, you will be able to do a lot of amazing things. So I ask this question : If being fisted had great exit opportunities would you do it. Honestly, from the way people plan their entire life one step to the next I think the answer would be yes for
08 May 2010
Mother. Funk that crisis. Please... I figure after the mild bounce back in markets over the past week and the opportunity for many a monkey to exhale for a bit, it may not be a bad idea to go back to masturbatory fantasies about why you got into the industry in the first place. Certainly, throwing parties like Appollo head Leon Black is a good example of such aspirations. No. You don't really have a passion for finance. No. You don't really give a rat's ass about proper valuation and bringing efficiency and liquidity to markets. No. You really are not in it for anything at all...besides this
01 Sep 2011
I have an offer from a consulting/Asset Management that specializes in investing public funds and/or telling public entities where to invest those funds. The official title for the position is "Asset Management Analyst". I was very surprised to see the pay: 43K + 2K sign on bonus. Is this inline with industry averages? Do you think I'm in a position to negotiate for more? As for my background - Econ and math at nontarget undergrad, target MSF, 3.5 gpa, good internships. My goal has always been S&T but this was a abysmal recruiting season and I didn't get any offers and neither did many of my friends.
22 Dec 2012
Trying to decide: Facts- Analyst Level, BB, my understanding is that mid-corp analyst is MM I-Banking, vs Public Finance which is top 3 in geographic region Questions- Exit Opps? Hours? Pay? B-School Factor? Thanks
17 Sep 2010
I know exit ops are always discussed here, but I'm interested in hearing about a few somewhat atypical moves (assume this is post undergrad): 1. IB 2-year analyst--> F500 Corporate role What position would one enter into? I'm assuming higher than out of undergrad, but what kind of title, salary, etc? Would this route make any sense vs. going straight into F500 out of school? (note: To explain my rationale, I think I would be willing to slave away for a couple years, but would like to have a life as I get older) 2. Mutual fund (portfolio management/equity research role)--> Hedge fund (similar role) How hard would this be to do? 3. F500-->HF/PE Guessing this is pretty tough to do, right? 4. PWM (assuming a role mostly in research/investment management, not sales)-->HF/PE
18 Sep 2010
Hello, I am currently studying for my CFA level I exam. I have a computer science degree from a state school within NYC. I am about 8 months into my 2 year analyst position within a BB bank. I am not front office - basically middle/back office. I do IT Risk, and was wondering what sort of career progression I would have 3+ years if I passed all 3 levels of my CFA. I was thinking I could develop software for risk management/portfolio management. Any insight would be good. Thank you.
18 Mar 2012
From my research, it seems Structured Finance and Mezzanine have pretty good exit ops in hedge funds. But they also are sometimes considered part of Capital Markets, and Capital Markets are considered bad for exit opts. Can someone clear up this confusion? Also LevFin has good exit ops, but LevFin is sometimes considered part of DCM in some banks. But DCM is known to have bad exit ops. Or is DCM only for investment grade and not high yield?
04 Dec 2010
How hard is it to break into value investing from IB? I'm interested in both larger LO value shops (Dodge & Cox, Harris Associates) as well as LO or L/S hedge funds. Is this the normal path, or are there other more relevant paths (entering from ER, straight out of undergrad, etc). Thank you.
03 Feb 2020
I'm a rising sophomore in college, currently interning at a small private equity fund. For next summer, I'm trying to do IB and think Lev Fin and Financial Sponsors could be a good fit. I've been doing some research and it seems like the Acquisition Finance team at Mizuho covers both Leveraged Finance and Financial Sponsors, so I think it could be a great learning opportunity. However, there isn't much information on the web about this group other than the description of what they do. I've searched around and could only find opinion's on Mizuho entire US IBD or info on other groups, like CFAS
19 Jul 2016
Between a CMBS banking role (i.e. interfacing with loan sellers, NRSROs, etc.. to bring a securitization to market) or a CMBS structuring role (i.e. modeling cash flows based on NRSRO levels and various b-buyer stipulations), which is better to ultimately make the move to a credit hedge fund? Secondly, would pairing a CFA with either role be helpful to make the jump to the buy side? Appreciate any insight.
04 Jul 2016
So I recently received an equity research internship offer with ClearBridge Investments for this summer (they're one of Legg Mason's funds). I couldn't find a ton of information about comp/exit opps online, so I was wondering if anyone on this forum might know anything. Some specific questions I have: 1) What compensation should I expect as an Equity Research Intern? (Comp has yet to be negotiated) 2) How easy/difficult is it to convert an internship into a full-time offer? 3) How favorably will this internship be perceived by other asset management firms, such as BlackRock and Fidelity? How
31 Mar 2018
What exit opportunities are feasible coming out of IB in a group that focuses on secondary PE investments? Seems like working at a secondary PE fund should be feasible, but beyond that, are you pigeonholing yourself too hard?
18 Aug 2017