Lack of Deal Experience Normal During Down Market?
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.
Thanks!





well, its normal but just
well, its normal but just look at the Asia bloomberg league tables and you will see that there are M&A deals happening even in this market.. though things have considerably slowed down, i would think that juniors at BBs have a couple of live stuff going on.. it also depends which sector / product team you are in..
are you a native from there
are you a native from there or a transplant from the West?
This is just the
This is just the beginning.
I'd start with this to get a clear understanding of what your up against: http://ftalphaville.ft.com/blog/2011/12/14/795281/...
Our secondary firm has received a growing number of requests from foreign and domestic Chinese sellers looking to exit. Problem is, very few buyers and we don't buy shit. We, along with a majority of other Asian PE firms, expect China to slip into recession.
My advice, find a nice corporate job and hold on.
Granted i'm not in the far
Granted i'm not in the far east, but feeling the same way at my firm.
its one way or the other: hate me or admire.