Lack of Deal Experience Normal During Down Market?IB
I started work at a top investment bank in China in July and so far, I've only been staffed on one live transaction that died a week ago. Other than that, I've been working on all kinds of random pitches and administrative mumbo jumbo. My question (especially to you folks in HK bulge brackets): is it normal in a down market not to have good experience working on live transactions? How's everybody else doing at other banks?
I spoke to my staffer and he said that we over-hired this year and there just aren't any deals at the moment he can put me on, and there are no new deals happening just yet.
Any suggestions? Originally I was keen on moving to a PE fund in a few years but if I'm not getting any deal experience, I don't think i'll be able to move anywhere.