7h โข Investment banking
๐๐ซ๐จ๐๐ฎ๐๐ญ ๐ฏ๐ฌ. ๐๐จ๐ฏ๐๐ซ๐๐ ๐ ๐๐ซ๐จ๐ฎ๐ฉ๐ฌ ๐ข๐ง ๐๐ง๐ฏ๐๐ฌ๐ญ๐ฆ๐๐ง๐ญ ๐๐๐ง๐ค๐ข๐ง๐ : ๐๐ก๐ข๐๐ก ๐ข๐ฌ ๐๐๐ญ๐ญ๐๐ซ ๐๐จ๐ซ ๐๐จ๐ฎ๐ซ ๐๐๐ซ๐๐๐ซ?
Choosing between product groups (M&A, ECM, DCM) and coverage groups (industry-focused teams) as a junior banker at Goldman Sachs or JPMorgan profoundly shapes your career.
๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ซ๐จ๐ฎ๐ฉ๐ฌ (๐๐๐๐ฅ ๐๐ฑ๐ฉ๐๐ซ๐ญ๐ฌ)
Specialise deeply in one deal type (e.g., mergers or IPOs), across multiple industries.
โข Pros: Technical excellence, intense financial modelling, deal structuring mastery. Ideal for roles at buy-side firms (private equity, hedge funds) demanding rigorous analytics.
โข Typical Day: Execute detailed financial models, valuation analyses, and deal negotiations. You become a technical expert (e.g., complex LBO modelling in LevFin).
โข Exit Opportunities: Highly favoured by mega-funds like KKR or Blackstone due to heavy transaction and modelling experience.
๐๐จ๐ฏ๐๐ซ๐๐ ๐ ๐๐ซ๐จ๐ฎ๐ฉ๐ฌ (๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ฑ๐ฉ๐๐ซ๐ญ๐ฌ)
Focus deeply on one industry (e.g., TMT, Healthcare), across multiple deal types.
โข Pros: Deep sector expertise, earlier client interaction, broader strategic understanding. Excellent for sector-focused investing or corporate roles.
โข Typical Day: Industry research, operating models, client relationship management. You'll cover equity raises, debt financings, and M&Aโall for one industry.
โข Exit Opportunities: Ideal for roles valuing industry expertise, such as sector-specific hedge funds, VC, or corporate strategy.
๐๐๐ฒ ๐๐ข๐๐๐๐ซ๐๐ง๐๐๐ฌ ๐ญ๐จ ๐๐จ๐ง๐ฌ๐ข๐๐๐ซ:
1๏ธโฃ Technical Skill Development: โข Product: Intensive, specialised financial modelling (e.g., M&A valuations, LBO structures). โข Coverage: Broader industry and strategic business insight, holistic financial analyses.
2๏ธโฃ Client Interaction & Network Building: โข Product: Intermittent, deal-specific interactions, technical specialist role. โข Coverage: Frequent, ongoing client relationships, strong early network development.
3๏ธโฃ Exit Opportunities: โข Product: Clear path to PE (especially from M&A, LevFin). ECM/DCM is more challenging for PE but suitable for credit roles or hedge funds.
โข Coverage: Excellent for sector-focused funds (VC, growth equity, hedge funds), corporate roles, or industry-specific strategy positions.
๐๐จ๐ฐ ๐ญ๐จ ๐๐ก๐จ๐จ๐ฌ๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐๐๐ฅ๐ฅ๐ฒ:
โข Know Your Goals: If aiming for mega-fund PE (KKR, Blackstone), choose a robust M&A or LevFin group. For VC or sector-specialised investing, coverage groups in high-deal-flow industries (Tech at Goldman, FIG at Barclays) excel.
โข Research Deal Flow & Reputation: Not all groups are equal. For instance, Goldmanโs TMT coverage is as strong as pure M&A groups for buy-side exits due to extensive deal volume.
โข Balance Passion & Realism: Choose where your interests align with strong deal exposure. Performing exceptionally in a reputable group matters most.
๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ค๐๐๐ฐ๐๐ฒ
Thereโs no universally "better" choiceโonly what's best aligned with your career vision. Your initial banking group sets the trajectory of your professional journey, shaping opportunities at elite funds, firms, and sectors.
For buy-side exits in todayโs market, do you think group choice matters more than bank brand?
0
0 comments
๐๐ซ๐จ๐๐ฎ๐๐ญ ๐ฏ๐ฌ. ๐๐จ๐ฏ๐๐ซ๐๐ ๐ ๐๐ซ๐จ๐ฎ๐ฉ๐ฌ ๐ข๐ง ๐๐ง๐ฏ๐๐ฌ๐ญ๐ฆ๐๐ง๐ญ ๐๐๐ง๐ค๐ข๐ง๐ : ๐๐ก๐ข๐๐ก ๐ข๐ฌ ๐๐๐ญ๐ญ๐๐ซ ๐๐จ๐ซ ๐๐จ๐ฎ๐ซ ๐๐๐ซ๐๐๐ซ?
powered by
skool.com/city-careers-coach-8722
Offer-Engineering for elite careers (Corporate Law โข IB โข PE). Gate-by-gate templates + weekly live drills.
Evidence on file for all outcomes.
Suggested communities
Powered by