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BB Commercial Banking > BB Public Finance after only 1 year?
Hello monkeys. I am currently a 1st year commercial banking analyst (started summer 2023) at a BB Bank on our tax-exempt team (municipalities, tax-exempt healthcare, higher ed). I love the tax-exempt world and am not interested in any other coverage groups. I love going on MSRB and reading official...
Public Finance SA 2025: Stats and Advice
Finished recruiting for public finance and figured I would make a post since there's not much information about the industry here. Cumulative results: Applications: 10 Chat requests: 62 Chats: 22 Superdays: 3 Offer: 1 Additional information: target, >3.9 GPA General advice: Read The Bond Buyer (or...
JPM Public Finance
Heard offers are out from their second superday, anyone hear?
J.P. Morgan Public Finance Superday Questions
Hi all. Has anyone completed (this year or previous years) a superday for JPM Pub finance and can share their experience and some of the questions asked? Any tips on succeeding? Thanks!
Public Finance SA 2025 - Where Are We At Right Now?
Inspired by the S&T thread, curious to know what banks are done recruiting, any upcoming, which banks have not started? Will update w/ comments: GS: Assuming it's done since Classic IB offers went out MS: Phone screen mid-April JPM: Offers out, 2nd SPD in a few weeks RBC: Opens in May BofA: HireVues...
why is there such widespread public finance slander?
I'm looking at both generalist ib and public finance summer analyst roles for summer 2025, and was curious why the latter gets so much hate. To my understanding, you get to work on deals that directly impact and ideally improve the lives of many. Is the public finance slander just due to the fact...
Goldman Sachs PSI Culture & Strengths
Does anyone have insight on the Public Sector & Infrastructure team at GS? I recognize this is their public finance group, but I'm curious if people could elaborate on the team more: What is the culture like? What are the hours like? How large is the team? Does pay follow the other IBD teams or is...
What to expect as a Stifel PubFin analyst in STL, MO
I am looking at a career in public finance. I want to stay in the midwest and Stifel is a popular firm in my area. What should I expect in terms of hours, comp, general work environment?
Advice for getting a job in public finance
I'm a second-year master's student in public policy at a top 5 program, and I've focused on data science and economics courses. Before grad school, I worked for a couple of years at a small company as a consultant in a niche area working with state and local governments. Do you all have any advice...
Public Finance Lateral Superday Interview Questions
I have an upcoming superday for PubFin banking at a BB soon for a lateral Senior Analyst / Associate position. The role would focus on complex revenue bond infrastructure financings. What are some PubFin / Muni-specific questions I could expect to see? Based on some research I am anticipating the...
How to get into public finance and where
Looking to break into Public Finance with a resume of commercial banking and competitive political/government experience. Also completed bridge program at mm bank. Downsides: non-target school and summer 2024 is my last before graduation. Any tips for how to find people in Public Finance? Also, what...
Pivoting To Public Finance
Hey everyone, I'm currently planning on pivoting out of my PhD program and launching my career while still in my 20s. After some research, I found public finance (and DCM) to be the perfect match for my background and interest in public policy and infrastructure investment. I have relevant...
How many years FD will double in post office?
The number of years it takes for a fixed deposit (FD) to double in a post office can vary depending on the interest rate and the compounding frequency. To calculate this, you can use a post office FD calculator, which takes into account the interest rate, compounding frequency, and deposit amount....
PubFin - Citi vs. Barclays
Who are the major players in this space? What are bonuses generally like, and would you say Citi or Barclays is a better place to be?
Public Finance Discount Rates
Hi all, I am currently trying to create a DCF model valuing an asset purchase by a US municipal utility with limited information available, and am struggling with the WACC/discount rate in particular. The best I can think of is the DOE has guidelines using a 3% discount rate but I'm not sure that...
Public Finance Resources/Guides?
Hi all - I was wondering if anyone knows of any great resources or guides which would help in preparation for public finance undergrad recruiting? Even though public finance is more "niche," I was surprised by the lack of guides out there. Any guidance or sense of direction regarding what I should...
RBC Public Finance?
Is RBC public finance overall a good place to work? Currently at a BofA/MS/WF and a potential opportunity has come up at RBC. I don't love the culture at the larger firm and am thinking it's possible RBC's overall PF culture could be better as it's a bit more regional? Knowing it really varies on...
Morgan Stanley Municipal Capital Solutions group
Does anyone know what this group does, or about municipal structuring in general? What does a typical day look like in muni structuring?
MM Credit Delivery vs MM PubFin
Hey everyone, So I am currently recruiting for 2023 SA positions, and was fortunate enough to get an offer to do Credit Delivery at a MM firm. I am currently in the recruiting process for another MM in their Public Finance team, and was told that I would likely be advancing to the Superday. The only...
Public Finance vs LIHTC?
It's looking like I have two opportunities (both at BBs) - public finance and affordable housing lending (LIHTC). Does anyone have any thoughts on which career path could be better? I've heard munis have been experiencing thinning fees for a while, but is that the same for affordable housing...
Is asking about the Texas ESG ban during a Jefferies PubFin interview a bad idea?
I want to ask my interviewer if she sees Jefferies' stance on underwriting for energy companies changing in the future because the Texas ban is such big news in the pubfin space recently. However, would this be too political/controversial and would it be a bad look for me? I feel like this is...
Quarter Life Crisis Next Steps (Maybe Corporate Finance)
Maybe I'm just ungrateful or maybe I was overly idealistic about working in Asset Management in general. For some context, I went to a non-target school, played college tennis, and graduated in 3yrs. My first job was with a small IRA as an execution trader. I thought that this opportunity would help...
2022 PubFin Discussion
Since PubFin often gets overlooked in the investment banking industry, I wanted to start a thread discussing updated PubFin information such as SA placements, FT positions, compensation data (base + bonus), benefits, and comparisons to other groups. Also, taking a look at the top Muni Underwriters...
Structured Finance vs Municipal Finance IBD & Exit Opps
Have the opportunity to join either the Structured Finance IBD group or the Municipal Finance IBD group (haven’t discussed comp as yet). What are the exit opportunities for both and which group is better in the short and long term. I’m trying to avoid being pigeonholed.
Public Finance internship but I know nothing about finance
Got an offer for a public finance summer internship at a lower-tier BB (according to WSO) but I don’t really know anything about the finance industry. Come from a public policy / politics background (think lobbying & policy research) and I guess the bank thought the skills overlapped enough....
2022 Public Finance IB Compensation
I was looking to see if anyone had any updated figures for Public Finance IB analysts/associates compensation (base + bonus). Looking through some of the older forums gave some pretty broad and dated responses. My current understanding is that PF base salary is the same as other IB specialties but...
Public Finance Culture
I'm wondering if anyone could elaborate on the culture at BB Public Finance groups? In particular, I'm interested in which BB PubFin teams have the best hours, least bureaucratic work environments, and which banks are the strongest in each different PubFin vertical (Transportation, NFP Healthcare,...
Muni Asset Management
Hey everyone, I'm an incoming PubFin IB analyst at a BB and I'm interested in potentially transitioning to Muni AM in a few years. With that being said, there seems to be a lack of info on Munis on this forum outside of IB. I'm hoping someone could provide color on the municipal asset management...
Public Finance MM NY vs EB Houston
Have 2 offers, one from a MM in NY (HL/JEFF/RBC) for their Public Finance division and one from an EB in Houston (MOE/TPH/EVR). Not sure which to pick... obviously Public Finance isn't dealing with equities, and I won't be making financial models, but it is in NY, and I don't really want to be...
Morgan Stanley Superday 2022
Did anyone hear back from MS Superday last Friday? I know that at this point I’m probably rejected or waitlisted, but I’m very curious to know how many spots they had for PubFin in SF.
Goldman Global Markets vs KeyBanc vs MS PubFin
Hi all, as the title says, received a SD invite for Goldman's GM team (basically S&T), an offer from Key's IB tech group, and a 2nd round with Morgan Stanley's PubFin team. All offers for Summer Analyst positions. My goal is ideally IB or any role where I can exit to an innovation-centric platform...
Janney Montgomery
Is anyone familiar with Janney? I’m particularly interested in insights about public finance, but I appreciate any general information.
Public Finance League Tables
Can anyone share YTD 2021 pub fin league tables? Mostly interested in negotiated revenue bonds.
How to Prepare for Public Finance Summer Analyst?
I'll be doing a public finance summer analyst at a BB in 2022 and I wanted to know what skills and knowledge I should work on in the leadup to that so I can maximize my chances of converting the SA. I already have experience in munis through my time on the credit research side so I was hoping for...
Lateraling via MS PubFin vs KeyBanc IB vs Health Boutique
I was fortunate to receive a summer analyst offer at KeyBanc's tech group. However, I also received an offer for MS public finance. My long-term goal is IB, and I'm wondering if it would be better to go to MS and try lateraling internally/to another BB down the road? I'm weighing the name of MS and...
BoA Public Finance 2022 SA
Anybody else apply to the Public Finance SA position for 2022? I got a hirevue that was due on the 21st of June, but was wondering when SDs go out?
DCM vs Public Finance
If you were a college grad and had a choice between public finance and DCM, which group would you choose? I have offers in both from comparable banks (European BBs), but I can't get a good idea which group will be better for exit opps and career growth. I know they both aren't ideal, but is one...
Healthcare Public Finance > Healthcare Corporate IB
I am currently an Associate within Public Finance covering NFP Healthcare providers and am contemplating an internal move to the Healthcare Corporate IB group. I realize Public Finance is a bit of a niche group but was wondering if anyone out there had thoughts on if it is a wise career move to...
How to prepare for Public Finance Internship?
I'm in an incoming Pub Fin SA at a BB and I'm wondering if anyone has advice on how to prepare for this summer? While I know sharpening up on Excel/PowerPoint skills are a must, I'm hoping for guidance on any other resources or specific skills that will help me get a return offer this summer. TIA
Public Finance best verticals for exit opps
Which verticals within PubFin are best for exits or development of transferrable skills to either PE or traditional IB? I was thinking it would probably be P3, Transportation, or Healthcare given that they might have greater exposure to traditional modeling, but I would appreciate some light shed in...
Framing Work Experience in Munis for Corporate Roles
If I work in the municipal fixed income space, be it in public finance IB, or fixed income research at an AM, how can I best frame my work experience to be a good fit for roles in corporate ER or IB?
Public Finance 2020 Bonuses
I thought it would be a good idea to start a thread on 2020 public finance bonuses. If you could specify BB or MM I think that's a pretty important factor for PF. Title/Base/Bonus would be awesome to hear for anyone who has gotten their number so far.
Looking for an article on how to succeed as an investment banking analyst/the name of a seasoned public sector banker in the US
Hello, I remember coming across a "guide to success" article written by a seasoned public finance banker in the US. A shame I didn't bookmark it. I'd like to read it again. I remember the banker is renowned and has also been involved in creating new financing instruments (the exact details/name of...
Morgan Stanley Public Finance Hirevue
What are the hirevue questions for Morgan Stanley Summer Public Finance Intern? Any help would be really appreciated!!!
What is the best accounting and bookkeeping software that can be used at an affordable cost?
I have been searching for software that can help me manage my accounting and bookkeeping tasks, have researched on google as well. Just want more suggestions to be more clear about it.
Public Finance Exit Ops
Hi all, I’ll be going to a BB full time for Public Finance in 2021 and was wondering if the exit ops were limited to only govt, non profit, etc type of roles. I know there isn’t much overlap, but would roles like corporate strategy still be a possibility? Wondering if anyone can shed light on...
Project Finance vs Leveraged Finance vs DCM
So the title is a bit clickbait - I completely understand each career has its own merits and each individual enjoys different things. I've been in public finance for about 4 years now. Looking to potentially exit. The lowering spreads, lack of strong analytical work and pitching/RFPs amongst other...
Debt Capital Markets versus Public Finance
Which would you recommend at a BB as an associate? Munis seem to be having slimming margins but I'm not sure if that is the case with corporate investment grade. What are the differences in pay/hours at the associate level? Better outlook longer term? And which would be more...
Best Public Finance Groups??
I have noticed a lot of the same banks getting deals in public finance , which banks have best exit opps and deal flow in public finance?
Muni banking to muni trading?
I'm currently a public finance analyst at a MM with a strong presence in munis (Stifel, Baird, Piper). I've been doing this for a few years now, and starting to think more long term. It seems a lot of the job at the senior level is "knowing people" and pitching. At the junior level, it doesn't get...
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