Hi everyone,
This post might seems abit silly, espically given the strong bias toward M&A product team in this forum.
However, from what I have seen and heard and even experienced myself recently, in my opinion M&A bankers are not as well regarded as before.
Historically, the reason why people always place M&A as their top group choice is because when you work in the M&A team, you get all the execution work and do lots of financial modelling which is ideal for PE.
however, nowdays, maybe all BB IBs are copying the GS model. All industry group typically keep execution in house, espeically when it comes to building operating models and general financial modelling.
At the BB that I work at, when M&A teams are involved in an execution project, they are mainly responsible for general admin work, procedure work, data room etc....and all industry team keep the modelling work inhouse, this makes sense, since they have pitched the deal and they know the financials of the client much better, why should they give away the most interesting work away to the M&A team?
My friend who work at other BBs also told me similar story.
I am little confused as to whether this is true that nowdays industry team gets to do modelling more than m&a guys???
hope i havent angered any M&A bankers out there, i just want to get everyone's opinion on this issue. Thanks
Interesting post. If many of the coverage groups claim to do their modeling in-house, how busy is the M&A product group really?
When I interviewed with my bank, all of the groups I talked to made a point to say they can/will do their own deal execution/modeling more often than outsourcing to M&A. That may not be the norm though, I don't know.
The BB I'm doing my SA at is split. The industry group I'm in does its own, which was the final factor in making it my first choice. I have previous experience in the industry, and long term would like to do work in it, but also getting M&A experience in case I want to stay in banking put it over the top. That said, the M&A group definitely handles other industry groups.
While there are some industry groups that do in fact do their own M&A, most industry groups tend to exaggerate how much M&A they keep in-house, as it makes it easier for them to attract SAs and FTs.
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