Citigroup Public Finance
Hey guys I just accepted my offer for Citi's Public Finance and I was wondering if anyone here works or has worked in Public Finance anywhere and could use their experiences to shed some light on how the lifestyle, projects/work, hours, pay, bonuses, or anything you wish. I understand what public finance does but I'm just trying to get a feel for it from someone who has been in public finance (either at Citi or any other BB)? Any help, advice or stories would help. Thanks a bunch!
I knew a guy in muni fina at GS...he hated it.
lifestyle is just as bad as regular IB at the bulge brackets, i hear....
Pay isn't as good and the work is boring as shit though. Good friend of mine did public finance @ JPM. Hated it.
but what are things exactly about it that are public finance related (not general banking related) that make it so bad as everyone says? I realize this may come off as a totally naive POV (no banking experience whatsoever) but isn't it kinda cool that at least the things youre helping raising capital for or financing things that you can actually see happen in society? Like you can see the fruits of your labor like the hospital/school in your neighborhood being built or even like the new Mets stadium deal that Citi took on. Im sorry if this sounds really naive but aside from the banking aspects of the job I just dont understand why everyone says their friends are all miserable in pub fin. Also i heard isn't Pub Fin actually less hours than regular banking?
Citi Public Finance - Considering a position in this group (Originally Posted: 01/27/2010)
Does anyone know anything about Citigroup Public Finance? I am considering a position in this group and would like to do infrastructure specifically and am hoping to go into private equity afterwards. Is it part of investment banking? Do you get the same training/skill set as in investment banking? Are there exit opportunities to private equity? Any other insights would be greatly appreciated.
Bump to original question
Are you already in Pub Fin? There really isn't many exit opps, someone I know had to get his MBA to get out o it, since there isn't any transferable skills.
during a phone interview with Wachovia a lady (who was in the regular ibd pool at GS) convinced me she actually liked pub fin. i dunno dude, sounds like you gotta roll with what you have and theres no point in trying to think too much about it.
Citi Public Finance - Interested in public finance division (Originally Posted: 10/20/2009)
I'm interested in Citi's public finance division, but I'm wondering what you guys think about Citi and this division in particular. Also, what have been the bonuses in this division?
Thanks
Citi is still respectable, but I expect its prestige will dramatically drop. Especially in Europe many of its rainmakers are moving to competitors and this will certainly affect its performance in the next months. Furthermore in March 09 the IB division and the CB division merged and the new entity is a mess...mainly because of differences in culture.
Public Sector doesn't belong to IB nor to CB, even if it's more close to the last one. It helps governments (and companies owned by governments) in a wide range of activities: bonds issue, securitization, financing, but don't expect to focus on M&A advisory services. Very small (no more than 100 people throughout the world), it isn't a "core" group at Citi. Bonuses I don't know...I think on pair with those of the corporate bankers, so much less than the ones of the investment bankers.
Hope this help you
If you want to do Public Finance, Cities has been doing it for the longest and is really well respected. At any BB, you will get tons of senior managed experienced which is important in Muni Finance. If you go to a MM shop you will get tons of co-managed experienced which doesn't help you understand the full process.
Public Finance is a niche group so just understand that you will be analyzing municipalities and won't get as much modeling/valuation experience depending on which group you land in. Do you know which group in public finance you would be working with?
I'm on the buy-side in muni trading, as an outsider I agree with this assessment of Citi.
its exactly like traditional investment banking (hours, stress, etc.) except you don't get the fat bonus, instead you get the satisfaction of knowing that your helping the not-for-profit world (take sarcasm as you will)
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I'm having this interview next week. Could you share some information about what they asked? This is only the first round on campus, so it shouldn't be that terribly bad, but I just want to know what it would be like.
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Pubfinmonkey, can you PM me? I'm interested to hear about your experience with Citi's Pub Finance. Thanks!
would be interested to hear anyone's experience in Citi's PubFin. Thanks!
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