Coverage in CLT/SF or ECM in NYC
Two competing offers for FT AN1. Both are MM. Coverage interests me more but is in Charlotte NC or San Francisco. Obviously I am leaning towards NYC but ECM exits worry me. Thank you
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What are the coverage groups?
Based on the most helpful WSO content, both options have their own merits.
If you're more interested in coverage, then the Charlotte NC or San Francisco offer could be a great fit for you. It's important to consider your interest and passion in the job, as this will drive your performance and satisfaction.
On the other hand, ECM in NYC could provide you with a broader network and potentially more opportunities down the line due to the location. However, you've mentioned concerns about exits. It's true that the exit opportunities might be different compared to a coverage role, but they are not necessarily worse. It really depends on what your long-term career goals are.
In the end, it's a personal decision that depends on your career goals, interests, and lifestyle preferences. Consider all these factors and choose the one that aligns best with your aspirations.
Sources: Jefferies SA 2023, MF Tech/HC Groups - NYC vs. SF?, NYC UMM vs BOS/SF/CHI MF?, Houston EB or NYC MM
For early on, group / experience is more important than location since you won’t gain as many “transferable” skill sets in ECM compared to coverage / M&A / levfin
Guessing Piper given Charlotte? Def take coverage and not ECM. Much better for both skill development and exits. If you take Charlotte you can live like a king since they don't do COL adjustments.
Would do SF over CLT everyday. Live in CLT now and the exits are very few. Bite the bullet and move to SF or NY. Worth it
Not true re exits from CLT. Know plenty of bankers from CLT who’ve moved on to any city they wanted to
Focus on group/product for career development and exit opps.
Coverage>ECM unless you wanna do banking forever (you don’t)
What would be better if I was to lateral banks after a year?
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