Date: March 6th, 2010 9:15 PM Author: Harsh telephone
Public finance banking; don't know the person that well, so all I know is public finance banking with a specialization in transportation. whatever all that means.
Date: March 7th, 2010 12:49 PM Author: Crawly temple
Comp should be the same as any other industry group, with maybe a smaller bonus pool. I'd guess 100-120k, all in.
Public finance banking is considered TTT because, as the other poster said, the majority of the work is putting together debt issuances for sewer systems and stuff like that. Barclays does have a Houston office, which is basically just the old Lehman Brothers energy group, but I'd guess that they handle public finance from NYC as only boutiques work regionally on public finance.
Date: March 8th, 2010 1:52 AM Author: Crawly temple
these jobs are as competitive to get as other banking jobs. They're pull from the same pool -- if an analyst didn't interview for a specific industry group, then they're basically auditioning for an industry group during training. I interviewed for a specific office but during my training 90% of the other analysts were all competing for the most prestigious groups.
Date: March 6th, 2010 9:19 PM Author: Harsh telephone
Further question: Would I have been in a good position to get this sort of job as very top of class at T10 university, but with a degree totally unrelated to finance or econ (assume political science-ish)?
Date: March 8th, 2010 1:55 AM Author: Sick Hairy Legs Casino
if banks recruited on campus you probably would have had a decent shot, assuming you could demonstrate some interest in finance and aptitude for numbers. if they didn't recruit heavily you would have had to have been more proactive with networking and such to get an interview.
Date: March 6th, 2010 10:19 PM Author: Green French Chef
Pub fin is considered a TTT category of ibanking because municipalities don't do m&a or issue equity. Just debt issuance. However, analysts are typically paid in line with other ibd analysts. A second year probably made more than 100k including bonus.
Date: March 7th, 2010 12:03 PM Author: Harsh telephone
Really? That high? Would I have had a shot at a job like that with a T10 degree in a poly sci-type major (assume top 5% at the school)? He was econ/business.
Date: March 7th, 2010 12:12 PM Author: awkward queen of the night public bath
I know HYP kids with 3.5s who got jobs at banks. It's about summer work experience, connections, and selling yourself. IMO MBB consulting is far more into the scores and GPA crap.
Date: March 7th, 2010 7:45 PM Author: Harsh telephone
Nah, I would not have been able to answer difficult financial questions, I guess. I follow stocks, but I didn't back then, and I would have no idea how to approach some difficult financing question. I guess it would have been pretty apparent at the interview.