This is another option within IB that has not been discussed on GMATclub and that is public finance. This deals with tax-exempt entities and a new trend is Public to Private Partnership or taking public systems private. The field has the same groups as as IB such as healthcare, infrastructure, housing (real estate).
The pay at the Associate level is about 10% less or the same as regular M&A. Where it tapers off is at the VP and MD level as the transactions are not as large, but this is a field that some on this site may be interested in and the banks are rumored to be hiring more people this year and next in public finance.
"Lunch is for wimps."