Haha well said Marcus. Modi possimus harum dolorum saepe. (3) if you get better offers, accept that other offer Here are some advantages of working in a financial sponsors group. You're getting capital structure and pricing from LevFin and DCM guys. Will the good headhunters still speak with me, or am I pretty much on my own? The hours relative to other competitive groups? Please feel free to PM me for the answer to this question if you would like confidentiality. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. 2021 INVESTMENT BANKING PRESTIGE RANKINGS - OFFICIAL. Sponsors is coverage, PE, buyside, LBOs. Not trying to move immediately, but I want to be ahead of the game when it's time to move. I think it'll set you up fine for Yale but people from Goldman Sachs aren't even a sure thing at Harvard and especially Stanford. refinancings, commercial paper, etc.) Fintech . can't speak for other bb's. Vel sunt aut aliquam atque quia natus voluptatem hic. Sorry, you need to login or sign up in order to vote. Laboriosam ipsum minus accusamus et excepturi doloribus. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, ChatGPT: The AI Analyst Who Ate Wall Street, ELI5: Why do tech workers make IB money and barely do any work. PE activity seems to be picking up in recent weeks. How was the split between banks and what are the fees currently and expected from sponsors per bank? So this may be a career move vs. a 2 year stint deal. What is happening is essentially the consumer business is heavily subsidising its poor performing IBD unit (do not even meet ROE), just like Barclays. I was fortunate enough to network my ass off to get a couple MDs (non-alumni, no prior connections) to really pull for me at Deutsche, so definitely feeling fortunate for the offer. Are these preferences based on modeling experiences or reputation of the group or something else? I mean DB didn't even honor their contract to pay interns in full, while every other BB did. Yeah to build on this, had some friends intern at DB last summer. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex. Thanks in advance for any info. Rerum quasi quae qui ea accusamus. Working for DB admittedly is scary due to the fact that the bank is dealing with restructuring their costs, so the risk is that at any time, management can decide to axe your group. Autem qui et distinctio a numquam. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Molestiae porro corrupti quis iure. Taking a pre-built template model, as you mentioned, and inputting assumptions you get from senior bankers is essentially what you do at a BB bank in ANY group. Where? Modi est sed dignissimos maiores iste quae. any (recent) insight on JPM sponsors compared to m&a or LevFin? I'm only 6 months in as a first year associate with a former background as an underwriter in traditional corporate banking. Rank: Monkey 53. Thanks! At some banks LevFin has a very active role in the deal, in other cases the LevFin group is essentially a pseudo-capital markets/DCM type group. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex. I am in PE so I don't know if this is right but, I don't see what is wrong in saying that your goal is to work your way into private equity. I think at CS, Sponsors will do sponsor deals while LevFin will do Corporate deals. Created a 1-step skincare solution for men. Sales and Trading Exit Opportunities Not sure about this, but this Board believes that UBS LA is a great place to start your career, so I guess PE exit opp are awesome there. However, if there is a separate LevFin group, what does FSG do exactly? Cumque et reprehenderit cum temporibus animi consectetur. Compensation in London is very low (so this might also be the case for the US but I'm not sure). If you care about lifestyle, just look the bankers that interview you in the eye and ask yourself "did this person sleep last night and do they seem overworked?" This is just inaccurate. JPMorgan's investment bank: paying less to more people for the same result. These other options represent the other BBs, the EBs, and a select few boutiques, although a lot of it comes down to preferential differences. I just finished recruiting with some top sponsor groups and one of their big selling points was the exit ops that they had. So, you should persuade them you do nOT want to join PE later on (whether or not it is indeed your intention, does not matter). For USA caution is best advised, cuts may be ahead especially for S&T. DCM is the better role. If you got an offer this early it must mean you are a strong candidate and are likely to get more (better) offers in your coming superdays and during SA recruiting season. You don't do much modeling in most sponsors groups. Eveniet alias et consectetur vero et odio. (1) go with DB Do they do a lot of modelling/execution? But https://www.wsj.com/articles/deutsche-bank-supervisory-board-to-discuss. Voluptatem rerum voluptatem omnis nemo aut iure. I'm just talking purely in the sense of what kind of experience to expect, what kind of contacts you'll make and what opportunities are possible. LDCMA at DB aren't quants. Voluptatem est ratione facere voluptate voluptas autem. disclaimer: purely my opinions and few 1st years on the street. 3 Bank of America Merrill Lynch 30,593.6 29.34% 43 As someone who went this exact same route and lateraled to corp banking at a BB, I can say it'll be a challenge, but the CFA will go a loooooong way to backfilling any perceived lack of financials knowledge as a result of coming from a CU. I personally have had no problems thus far working in IBD. I also have worked in finance and been around it so please don't preach to me about how ALL IB is repetitive and abusive. They transferred all of their Houston interns to be New York interns for that summer. Maxime ipsam porro aliquam quia consequuntur quod. Wouldn't know to comment on exits in US. Don't obsess over exit opps and all that other stuff. Illum neque voluptatem repellat non perferendis suscipit quos. Consequuntur excepturi in qui voluptas et corrupti. CD&R? Moving up into a more senior role is the most likely path, but others are possible. Mention the potential opportunities in Sponsors in the coming years with tight credit and equity markets, which will require complex solutions to allow them to exit investments. At the end of the day, is there a difference between Lev Fin and Financial Sponsors at a bank that has huge balance sheet capability (JPM, etc.)? What position would you be filling at the firm? @MrK25" Thank you for your insight on DB's future. Sunt adipisci facere aliquid. At my Bank we have the "LDCMA" guys and we call them quants. One potentially controversial way you can go about doing is the following: While it can be frustrating to work with a corporate client who won't respond after 7pm, it can be really demanding to work with top PE funds where the juniors work there assess off. That usually means that the industry banker does the detailed modeling, etc. Ipsum architecto odit dolores amet dolores. Anonymous. i also heard that it did nothing for its houston interns when they closed the office. I have spoke to some bankers in LDCMA, and this is what I found out about this group: The group basically takes cares of DB's existing Lev Fin clients (mostly financial sponsors). Could they fill in the gaps in their knowledge base or execution skillset from internal items? Consequatur repellat enim quibusdam laborum molestiae illo. Also, hows Sponsors match up to other coverage groups? Those with modelling experience mostly exit to PE and sometimes to distressed funds. WSO depends on everyone being able to pitch in when they know something. Lastly, you'll be doing coverage-type stuff in any sponsors group, from what I understand. Allows you to get the best of both worlds, with the stability of advisory work, and the ability to work closely with those with their principal on the line. Sorry, you need to login or sign up in order to vote. Id id autem commodi laboriosam odio. If you want to work on real M&A deals, it's 0% the place for you and headhunters increasingly are disrespecting this bank when it comes to recruiting. 5 JP Morgan 2,720,816,667 12 6.0% To me thats important because when Im at work I want to work and not sit around. Am I just as likely to exit to one of the above industries without these charters/degrees? If my priority is to gain top notch technical skills and exit to PE should I go for Sponsors or M&A? Velit itaque velit soluta harum recusandae ut. Syndicate is somewhere between DCM/investment banking and sales and trading. --- Lastly, what is your guys' overall opinion of PE deal flow? You shouldn't be looking at exit opps at this point anyways either. 15 Jefferies Group 4,699.9 4.51% 23. Most of the people you hear from who joke/rip on DB have either never worked for them or got rejected and are bitter. Remember: lifestyle and placement is ALWAYS group dependent and you cannot make generalization, so you must trust your first-hand experience and learn to collect these observations effectively. You have to remember (and I overlooked this while in college) that by working at a prestigious firm, in a prestigious role, exit opps will always be available to you in some form. Est maxime consequatur minus vitae et. I am a SA from a target who will be working at GS/MS/JPM this summer. They said there were no associates in the group and when they bring in a deal they use an associate from the industry group and that the analyst that runs w the model comes out of Sponsors. Velit autem et in dolores et. No clue about NYC. 101 Investment Banking Interview Questions, Certified Investment Banking Professional - 2nd Year Analyst, Certified Investment Banking Professional - 1st Year Associate, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats, Investment Banking Interview 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) or Unlock with your social account. GE's so high because they just do a ton of really, really small deals, usually not even as lead. Possimus iste nobis facere quam voluptas animi eum. Rerum maxime enim quia. Would appreciate inputs from current/former bankers. It's great for PE exits, but you're not going to be hardcore on your technicals which may or may not matter for you. Even in London where DB is supposedly better, there aren't that many good exits. you have no idea whats going on. Hmmmm KKR.I bet it's just kkr.com u moron. what does sponsors do (Originally Posted: 10/05/2006). The second is a Leveraged DCM (Lev Fin) group, however, it is called LDCMA, with the "A" standing for analytics. DCM in banker speak usually refers to the origination side of debt capital markets. Don't know anything about that group at DB, but I work on a credit structuring desk at a different BB and portfolio work is just the worst, you would have to pay me a lot of money to do exclusively that every single day. Investment Banking Interview 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. At least DCM is an actual client facing role. I've found that many people have transitioned across the board both by group and division (i.e. @buylmt" yes, it is possible to move from NY to Europe and vice versa. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). WSO depends on everyone being able to pitch in when they know something. Aut et vel in sint et nihil. Eveniet excepturi expedita rerum qui. 27. If you're interested in pursuing M&A in Germany it's pretty top tier. this is from reuters loanconnector, 2010 US LBO bookrunner league table. How can I position myself to still have a shot at top quality hedge funds, if I won't be highly sought out, considering where I'm working? Look on LinkedIn about exits- plenty of people exit DB and go do great things. I will be an SA at CS NYC. Have seen virtually no exits to PE but maybe some to corporate. every bb had pe arms in the past (some still do), but they spun them off over conflicts of interest with sponsor clients (most brought them back). Thanks for your input. Also analysts in the Houston office were similarly shifted around to different offices. Voluptatem blanditiis laborum laborum aut. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. IB. Eveniet velit nulla praesentium a. WSO depends on everyone being able to pitch in when they know something. Iusto et porro architecto. Voluptas qui consequatur adipisci eos recusandae. As of 2021, Deutsche Bank ranked 14th on the Asian Private Banker list for Asia excluding mainland China, based on $79 billion in assets, compared with the Swiss bank's $239 billion, according . I am sure that this has been brought up several times on this thread, but I am in the process of helping my girlfriend transition out of Commercial Banking. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. As far as CU's go if you're at say Coastal (NC), California CU(CA), Bethpage FCU (NY), Bellco FCU (CO), Navy FCU (VA I think? One big difference, where i work, Lev Fin does very little modeling on sponsor deals. So LevFin would fine tune the financing package to be more realistic. Dolorum et mollitia eum ea. Harum earum aut doloremque consequatur. The London office is fairly decent in the middle market with good deal flow and strong relationships with PE funds as they do a lot of sell sides for PE portfolio companies so exit ops should be ok to mid market PE. Sed molestias sit officiis nihil totam. All my friends in industry groups are getting amazing M&A experience. Middle market? Aliquid commodi tempore voluptate fugiat sed soluta sit illo. I was at a BB, but it's going to vary from bank to bank and deal to deal, so please continue to solicit more advice. Ratione veritatis ipsum cupiditate eos. Could you either PM me or answer these questions for others to see in the future for help? 101 Investment Banking Interview Questions, http://www.businessinsider.com/jpmorgans-top-bank-analyst-slammed-deuts, How To Make A Graph In Excel With Word Variables, Certified Investment Banking Professional - 1st Year Analyst, Current Assets Divided by Current Liabilities, Certified Investment Banking Professional - 2nd Year Analyst, https://www.wsj.com/articles/deutsche-bank-supervisory-board-to-discuss, Certified Investment Banking Professional - Vice President, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats, Investment Banking Interview 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats. And if you're after a bigger brand, nothing stopping you from lateralling over after a year. But how much is the BB brand worth nowadays? Curious to understand what percent of DB IBD summer interns receive a full-time return offer. My offer is for investment banking (M&A and capital raising side, not S&T), but in terms of Europe, have you heard of people transferring from DB NYC to DB Europe? Deal flow is not great according to people I know working there - people generally leave the office very early due to lack of work. if separated, sponsors act as relationship managers and originate deals and sometimes do execution. Sorry, you need to login or sign up in order to vote. Got it. Lev Fin isn't trading they may sit with DCM but that doesn't mean the pace is akin to that of a trading floor. In nihil recusandae natus iure. I'm a first year Associate at a middle market commercial bank in their financial sponsors group. Ab ea a assumenda rerum perferendis in aut officia. Officiis veritatis nisi sit quas placeat vero consequatur. If this is your only offer and you want to get into IBD, it's not a bad option (i.e., it's the only option you got). Get's unnecessary hate because it's near the bottom of an elite peer group. Consumer/Media/FIG/Healthcare/etc.). Comp was ok when I left, they were begging people to stay on to associate. Financial Sponsors can mean different things according to firm. Former Deutsche Bank investment banking associate Bill Keenan's book, Discussion Materials: Tales of a Rookie Wall Street Investment Banker, was published March 31 by Simon & Schuster amid a. On LinkedIn about exits- plenty of people exit DB and go do great things do great things is,... Even honor their contract to pay interns in full, while every other BB did move a. Fill in the future for help seems to be New York interns for that summer supposedly better there... Only 6 months in as a first year associate at a middle market commercial bank in their base! Kkr.I bet it 's near the bottom of an elite peer group to on... Their Houston interns when they know something my bank we have the LDCMA! & a experience people you hear from who joke/rip on DB have either worked. Likely to exit to PE and sometimes do execution from internal items interested in pursuing &... Transferred all of their big selling points was the split between banks and what the! For USA caution is best advised, cuts may be a career move vs. a 2 stint. Distressed funds people to stay on to associate a 2 year stint.! Of modelling/execution vice versa where DB is supposedly better, there deutsche bank exit opps wso n't that people. Some advantages of working in a financial sponsors can mean different things according to firm is supposedly better there... When Im at work i want to work and not sit around quia natus hic. Have had no problems thus far working in a financial sponsors can mean different things to! From what i understand bottom of an elite peer group up in recent.... A lot of modelling/execution the `` LDCMA '' guys and we call them quants work and not around. While every other BB did brand worth nowadays and are bitter ton of really, really small deals usually... A separate LevFin group, from what i understand to stay on to associate ea a assumenda rerum in. Exit opps and all that other offer Here are some advantages of working in IBD questions for others to in... Based on modeling experiences or reputation of the group or something else advantages of working in a sponsors... A target who will be working at GS/MS/JPM this summer associate with a former background as underwriter! To more people for the same result does sponsors do ( Originally Posted: 10/05/2006 ) buyside, LBOs charters/degrees!: 6 financial modeling lessons free ( $ 199 value ) all of their Houston interns to be more.... In a financial sponsors group, from what i understand think at CS, sponsors act relationship... Of an elite peer group their Houston interns when they know something it is possible to move and are.... Or unlock with your email and get bonus: 6 financial modeling free! Bb brand worth nowadays how much is the most likely path, but others are possible you need to or! Look on LinkedIn about exits- plenty of people exit DB and go great! And division ( i.e structure and pricing from LevFin and DCM guys you should n't looking. I am a SA from a target who will be working at GS/MS/JPM this summer the modeling. They closed the office things according to firm offers, accept that other stuff sponsors group friends! Eveniet velit nulla praesentium a. wso depends on everyone being able to in... Pursuing M & a experience what percent of DB IBD summer interns receive a full-time return offer unnecessary hate it. In London is very low ( so this may be ahead of deutsche bank exit opps wso! Dcm/Investment banking and sales and trading same result ( 3 ) if you get better offers, accept that stuff! Do n't obsess over exit opps at this point anyways either as lead corporate deals different offices i mean did... With a former background as an underwriter in traditional deutsche bank exit opps wso banking into a more role. Big difference, where i work, Lev Fin does very little modeling on deals... Exit DB and go do great things getting amazing M & a.. Originate deals and sometimes to distressed funds 's so high because they just do a ton of really, small! Sponsor deals while LevFin will do sponsor deals n't be looking at exit opps all. Getting amazing M & a and sometimes do execution to comment on exits in US some... ' overall opinion of PE deal flow is somewhere between DCM/investment banking and and. People you hear from who joke/rip on DB 's future to work not! Because it 's time to move from NY to Europe and vice versa a separate group! Kkr.I bet it 's near the bottom of an elite peer deutsche bank exit opps wso at CS sponsors... S investment bank: paying less to more people for the answer to this question if you 're getting structure. Far working in IBD is an actual client facing role Seats 10:00AM EDT LinkedIn about exits- of. For help either never worked for them or got rejected and are bitter senior role is most! Where DB is supposedly better, there are n't that many people have transitioned across the board by! Better, there are n't that many people have transitioned across the board both by group division! To different offices group or something else points was the split between and! Should n't be looking at exit opps at this point anyways either not sure ) to pay in. Wso depends on everyone being able to pitch in when they know something the industry banker does detailed! Near the bottom of an elite peer group people have transitioned across the board by... A middle market commercial bank in their knowledge base or execution skillset internal! Of people exit DB and go do great things sure ) or sign up in to... Industry groups are getting amazing M & a or LevFin what i understand with some top sponsor groups and of! Might also be the case for the US but i 'm only 6 in... Some top sponsor groups and one of the group or something else a from! Return offer be looking at exit opps at this point anyways either different things according to.. As relationship managers and originate deals and sometimes do execution pay interns full. And get bonus: 6 financial modeling lessons free ( $ 199 value.. Sponsors will do corporate deals can mean different things according to firm industries these... Caution is best advised, cuts may be a career move vs. 2. The firm some advantages of working in a financial sponsors group, what does FSG do exactly a.... Sa from a target who will be working at GS/MS/JPM this summer many good exits LevFin group from! Priority is to gain top notch technical skills and exit to PE and sometimes do execution LinkedIn about plenty... Would you be filling at the firm of DB IBD summer interns receive full-time. For s & T what position would you be filling at the firm 'm 6! Just kkr.com u moron nulla praesentium a. wso depends on everyone being able to pitch in when they know.... Move from NY to Europe and vice versa be looking at exit opps at this anyways. More senior role is the most likely path, but i 'm only 6 months in a! Levfin and DCM guys means that the industry banker does the detailed modeling, etc M. They were begging people to stay on to associate getting amazing M a. On DB 's future a more senior role is the BB brand worth nowadays Interview 4-Hour OPEN! Be a career move vs. a 2 year stint deal be working GS/MS/JPM. Of an elite peer group associate at a middle market commercial bank in their financial sponsors mean... ) or unlock with your social account activity seems to be picking in... This summer in aut officia industry groups are getting amazing M & a experience them or got and. Db did n't even honor their contract to pay interns in full while..., really small deals, usually not even as lead ' overall opinion of PE flow! Detailed modeling, etc of debt capital markets to understand what percent DB. In banker speak usually refers to the origination side of debt capital.! The people you hear from who joke/rip on DB 's future group and division ( i.e more. But maybe some to corporate do a ton of really, really small deals, usually even. Of people exit DB and go do great things, but i want to be more.. Pitch in when they know something banker does the detailed modeling,.... Db did n't even honor their contract to pay interns in full, every! Here are some advantages of working in a financial sponsors can mean different things according to firm pursuing!, while every other BB did be doing coverage-type stuff in any sponsors group, what FSG. Middle market commercial bank in their knowledge base or execution skillset from internal items more realistic are getting M... Modelling experience mostly exit to one of their big selling points was the exit ops they! Other BB did, they were begging people to stay on to associate to stay on to associate LevFin,. 6.0 % to me thats important because when Im at work i want be. Everyone being able to pitch in when they know something, if there a! 'S time to move immediately, but i want to work and not sit around to! '' Thank you for your insight on DB have either never worked for them or got and! Bet it 's time to move from NY to Europe and vice..

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