Hopeless and Lost - Need Guidance

Hi All,

I come from a very untraditional background - I currently work at an industry-specific investment bank with limited coverage on other sectors (i.e., think of an investment bank that only covers freight and logistic companies). I began my career in finance as an intern at this firm doing a lot of back-office work (my interview did not consist of any IB-esque questions such as "Walk me through a DCF".) Frankly, I still don't fully understand the DCF and have been working towards filling the gaps in my knowledge. 

I've been an "Analyst" at this firm for roughly two years now and I am deathly scared that I have pidgeon-holed my finance career in the freight and logistics industry (an example industry, not the one my group covers). There is very limited modeling exposure in my role (I've only done one three-statement model). Most of the modeling is basics such as P&L reconciliation and calculating adjustments towards EBITDA. Hell, we don't even run comps or public comps given the nature of the industry and resort to multiples on EBITDA that we are familiar with. 

Deal flow has been healthy at the Company, I have worked on (in same way, shape, or form) around 30-50 deals ranging from $15MM to $500MM in EV (I don't even know how to calculate the EV of a Company, but this is what they were valued at using an EBITDA multiple). I have only worked on two pitch decks in my entire career (which seems like a joke, but the deal flow was really good given our firm's specialty in the space). 

I have a good understanding and foundational knowledge of the entire M&A process, CIM building (I've probably contributed work towards 30+ CIMs at this point), and basic valuation (calculating EBITDA and slapping a multiple). I know there are laps being circled around me from kids at other firms. My team is very lean and consists of a deal team of less than four individuals. 

Ideally, I'd like to get to a point where I can find myself on the buy-side (started studying on weekends). I do believe I can land a role in corporate development at a strategic company, but I'd like to find myself working on a broader market (Consumer, TMT, etc.) Am I completely hopeless and should I throw in the towel? Is there hope for me to lateral to another firm as a 1st year (GPA isn't the best)? I don't really have anyone else to vent to as my situation seems to be very unique and different from the experience of others.  

Any thought, or guidance would be great. (Don't have many close contacts in banking that I can reach out to). 

EDIT vF2: I'd like to point out that I have a lot of exposure to C-suites and operators in the space. 

EDIT vF3: I'd like to add that I am the most junior in the firm and the other two members in my deal team rarely ever break more than 45+ hours a week. I am the first one to go in the office, and always the last to leave. This can be demoralizing at times when I'm lost and can't seek help. AND I AM VASTLY UNDERPAID. 

 

I'm not well versed in coverage IB specifically but I'd imagine you could just reach out to a recruiter and ask them about any sector coverage groups at bigger firms that are related to yours in some way. just be sure to let them know you're willing to still be an analyst. I know of a few people that started at smaller boutiques before lateralling. Just be sure to emphasize that you're willing to learn as opposed to you don't know

AhoyMeBoy
 
Most Helpful

You need to do Comps, DCF and LBO training in your spare time. Technicals cannot let you down otherwise you will struggle to move. 

At analyst it's always very mobile. With your background and having done some key sellside pieces, you'll be able to move to a coverage group (eg Industrials would be a nice lateral move but you're flexible). Just be vocal about moving to a different coverage universe. 

I would move to a decent shop, then do 2 solid years where you learn a proper set of basics. Then you should look at your buyside exit options. You'll also have far more options once you do exit.

London Sponsors M&A - EB
 

Perspiciatis accusantium dicta id consequatur. Iusto culpa ut dolor dolor temporibus id. At velit architecto corrupti quaerat rerum porro delectus. Et voluptas maxime velit consequatur illo repellendus. Quia ratione ut rerum deserunt tempora cupiditate architecto. Delectus praesentium neque vitae.

Quis vel molestiae et. Quia aut quia ut provident tempora. Illum sit facere sapiente omnis.

Dolores laboriosam in quo ea voluptates temporibus non. Esse itaque delectus quasi est. Ea et non in. Consequatur quia ut dolorum aut et debitis.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
GameTheory's picture
GameTheory
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”