I want to work in sovereign advisory

I really want to work in sovereign advisory at Lazard or Rothschild somewhere down the line. Fascinating stuff and seems like a business that could (and should) easily be expanded, given money matters a lot less to sovereigns than to individuals or institutions.

But two problems: First these groups are largely based in Paris and I have no imaginable connection to France and don't speak French. Second there's hardly any literature out there aside from a handful of articles, and I certainly haven't found anything on breaking in. Only relevant thing I've seen is this thread (/forums/sovereign-advisory-lazard-rothschild-others) with 1 reply, which suggests my best bet might be IB -> HBS/HKS joint degree. But that's easier said than done.

So..... if anyone has any relevant insight I'd appreciate it.

Btw my background: sophomore at target (in America)

 
Best Response

These groups are insanely difficult to get into. Students they hire usually speak French and have a double degree in both Economics/Public Policy and Finance. Having experience in FIG/DCM FIG is a plus. Interviews include questions about macroeconomics (e.g. “what is the uncovered interest rate parity”), national accounting (C+I+G+X-M), corporate finance, valuation and some markets questions (how do you price a forward rate etc.). So you have to be very well rounded.

 

I know it’s been 4 years lol but can anyone here make an educated guess as to why a DCM FIG experience is a plus?

I’m exploring a Sovereign Advisory career path down the line, and I just got a DCM internship, and still need to choose the industry group (Corporates, FIG or SSA).

I thought SSA or at least Corporates - definitely not FIG - would give me the most transferable skills for Sovereign Advisory, but maybe I’m wrong?

 

My guess would be that FIG is much more macro-economically orientated than any other IB industry group. Would like to hear other peoples' input though

 

Hello, I would also like to get information on how to prepare for an interview for sovereign adivsory groups? If anyone has ever been through the process ?

Victor Pierramonte
 

Hello ! I'll attend an interview for a sovereign advisory internship in a few days. I've been studying heavily, but I lack a collection of the most common questions asked. Do you know if that kind of materials exist ? Many thanks in advance !

 

Indeed, Financial Markets Advisory. Helped out Greece and Ireland during their last couple panics, guided the Fed on creation and asset disposition of Maiden Lane vehicles in 08 and helped most of the bulge brackets pass the (then) new Fed stress tests. Cool group although not a lot of info out there.

.
 

Any chance anyone has any insights on the recruiting process for these groups? French student here interested in Sovereign Advisory, with a public policy and finance dual degree trying to figure out how to prepare for the interview process

 

Fuga excepturi placeat est sit. Quae delectus nemo deleniti nisi ut. Quae doloribus est rerum optio. Nihil non perspiciatis odio mollitia vero voluptatem quo.

Nemo reiciendis doloribus libero. Id ea occaecati iste excepturi. Ea ut quidem sed et nemo. Quos id eveniet omnis ut esse dolorem ducimus.

Et veniam ducimus ut at et. Corrupti perspiciatis distinctio earum quas. Aliquam omnis neque id porro vel qui. Ratione officiis dolores itaque et quo.

Fugit ut quia veritatis architecto rerum. Ipsum voluptas reiciendis qui sed. Expedita cumque eius iste rerum eaque.

 

Vero quam quae accusamus tenetur sint aut corporis qui. Vero ex quidem eos quas sunt.

Et illo itaque vel praesentium non eius. Reprehenderit voluptatem earum omnis omnis at qui aut. Possimus harum quo eum. Eos aperiam asperiores omnis dolor minus impedit sed.

At quia rerum occaecati illo. Aut earum eos rerum optio eos molestiae dolores quae. Veritatis mollitia fugit ut beatae illum voluptatem corporis beatae. Voluptas qui consectetur quibusdam maxime maxime praesentium quisquam. Eum fuga molestiae optio exercitationem voluptatum. Et nihil veritatis autem quo. Dolore molestiae illo vel non quas nam modi.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 05 97.7%
  • Moelis & Company 01 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (206) $159
  • Intern/Summer Analyst (148) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”