BAML M&A London - Exit opps? Hours? Reputation?
Hello fellow monkeys! I have just gotten a full time offer as analyst 1 in the BAML M&A team in London. My long term objective is Long/Short Equity, although to get there if it is really necessary I would be willing to do PE first (been told going to HFs from PE is a lot easier than going there from banking).
How is BAML in general and the M&A team in particular positioned for exit opps into L/S Equity?
How about exits into mega funds PEs and well reputed middle market PEs?
Let’s be conservative and assume I will be an analyst ranked mediocrely or average - How are the opportunities? Do I need to be top bucket for the nice exits?
Also, How are the hours? Did a summer in IB GS/MS/JPM and found it absolutely brutal (2-5 am every night). Is it going to be the same at BAML as analyst? I am definitely a hard worker but I do need to sleep at least 6 hours a night on average, I can survive on 4 but not for more than 2 weeks.
Thank you all in advance for the contributions!
First of all I think you should really think through whether you want to do banking. If you do not want to work long hours then get a job at KPMG or some other shit. Second, BAML is no GS and getting into HFs will be very hard
Ahahaha thank you for the positive attitude. I guess Wharton is no HBS so everyone who goes there has no chance. Also, just because I want to remain sane it does not mean I am not willing to work hard...Go back to your college room as you are 100% a student who does not know what he is talking about. Is there any serious person that can help me make my decision with serious info? Would be highly appreciated.
Agree with the above, Schroders is really not a common stepping stone for HF exits (neither for Single or Multi Managers) with IB/M&A/RX being the most common route. In London, HFs are obviously often quite small and therefore often appreciate the tight knit culture/structure and high level of personal responsibility of EBs with for instance Moelis having strong HF exits. If at a BB, an industry team is preferrable (actually quite often FIG due to the highly technical nature) as deal experience is a much less significant factor compared to industry knowledge/industry-specific technical knowledge.
BAML M&A is (among) the best team(s) at BAML London as, while definitely also doing process work (however, mostly on deals with no mid-level people from the team, so only Analyst-MD), juniors get more deal flow than at any other team (consistent modelling if you do a good job in the beginning). PE Exits have been probably the best at the firm (Apollo, TPG, Advent, Apax, Providence, CDR, ) but HF exits are very rare. Hours are among the worst at the bank as a function of working mostly on live situations (but note that long hours means strong learning to HHs)
Stop posting these dickish comments to boost your post and accept your BAML offer
It is a very good team, historically, probably the best at BAML in terms of PE placement.
Pros: - Great deal flow (usually juniors will have among the most transaction experience) and exposure to financial modelling (especially the more demanding parts) -> juniors are often overrepresented in the top-bucket - Ability to work across industries (the team primarily works with the standard industries such as Industrials, HC etc.) -> simultaneously generalist but also ability to become the go-to M&A guy within a (sub)sector after having done an RFP/deal; also able to build a broader network within the firm - Generally nice people, work very efficiently - Track record of strong exits in private equity (funds above are correct) - Have their own area with nicer desks and day light
Cons: - Lifestyle can be quite stressful because most things are live -> will be a lot harder to schedule private affairs 2/3 weeks out since you never know what can happen (obviously also the case for industry teams during deals but definitely very consistently the case in M&A) - You will do process work -> often juniors will have one situation in their first year where they basically do a lot of the process after which that tries to be avoided by the staffer; in the latest analyst class there is a pronounced focus on avoiding situations like that all together -> personal judgement call whether that is worse to you than non-deal related grunt work in industry teams (product/process vs industry "expertise") - If you are looking for a party team, this might not be the team for you as the atmosphere can probably described more so as friendly/collegiate and professional - Depending on what you want to do long-term, you might benefit from not going with a product team but rather specialise in an industry right away; for PEs with clear industry silos as well as certain HFs, it would probably be beneficial to join one of the good industry teams such as Industrials or FIG/HC