Does one have to be smart to be an MD in BB M&A?
How do the analysts and associates on the board view their MDs in terms of intelligence and client skils?
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Anyone can get into med school these days. All you need a 3.5 in the sciences and 30 MCAT. Not too hard.
^Uh, wrong MD
I hope this is like 2nd degree sarcasm....
hahahahaha...that was too much
It depends on the MDs. There are guys that are super sharp and others that are dumbasses with good connections. Both are a paina nd both add value to a BB. then there are the ones with neither conenctions nor brains. It sooo depends on the person.
"LIVING THE DREAM 24/7 ON http://THEALLNIGHTER.BLOGSPOT.COM"
do you really think its harder to get into BB ibanking than a top 20 med school? med school is definitely the hardest grad school to get into, without a doubt, followed by law school then business school. just look at the average GPA entering the three schools, average GPA entering HBS is like 3.5 or 3.6
granted, work experience matters a lot more in business school, but still
h4azin dont start...
To address the original question - Yes, one does need a fair amount of intelligence to become an MD; whether that be a High Functioning intelligence(street smarts) or a Quantitative(book smarts) is variable.
It has been my experience that the most successful people (in any position) are those who understand and emphasize interpersonal relationships.
I-Banking is a team sport - you cannot expect to have one guy that has all the answers - normally the MD is the guy with the most experience, and thus knows how best to handle any given scenario, whom to contact and the way to get it done, etc. . .
The most badass MD in my group didn't graduate from a notable college but he certainly knew how to handle his troops. He was also known for being one of those human calculators which I thought was pretty cool.
Doctors> Lawyers/Bankers
Who cares? I'd rather have a smart guy doing surgery on me than giving me comments on a pitch book. The point is to figure out what you want to do. If you truly think there is a "best" profession, stop posting here, take the MCATS, and go to med school.
Thanks for the advice.
Dr. Cackmenimble
Also, there is no "best" profession. My comment was a joke... hence the obvious sarcasm of posting it on a banking website. There is definately a "best profession for person A" or "best profession for person B"... and there are some people who would fit comfortably and succefully in a number of fields.
have to be a good salesman and relationship man
What do MDs in M&A groups do? (Originally Posted: 02/16/2011)
For banks with specific M&A departments (Morgan, JPM, etc.) what is the role of the MD? From what I've heard MDs mostly source business based on the industry they focus on while the modeling and analysis is done by the analyst, associate, and VP - with that in mind, what is the role of an M&A MD? Do they source, or are they usually there to support the industry bankers with knowledge about proxy fights and other more complex M&A strategies?
They "make it rain."
This...along with ensuring you will not sleep well and be a constant reminder you are an insignificant little analyst bitch. Unless of course you are blessed with a cool MD, which is about equal chances anyone on WSO will make Partner @ GS.
Browsing WSO
Maintain the relationship... CFO's usually have strong relationships with a certain banker. They are the only ones in the structure IMO that add tangible value that cannot easily be replaced..
M&A execution does not generate any revenue. They are a cost centre although don't want to admit it. The coverage bankers in the industry teams source the deal. Then it moves to M&A and they give them a deal credit which means sharing in the fees. That's why you see in those teams there are not many MDs and it will take a long time to get promoted if promoted at all to MD.
In our M&A group the MD's usually go along with the coverage MD to any M&A pitches.
It's a good question, I observe they sometimes bring in deals too, and they have lots of deal experiences so would be highly valued by clients too.
Sometimes but not in general.... It is a cost centre.... Nobody wants to admit but it is. A lot of banks are reducing or terminating these groups and follow the GS model where all the execution is done within the coverage group which would make sense as it would be unfair if you worked your ass off on a pitch which led to a mandate and which then is moved to M&A Execution.
Random question: How the hell was this guy http://en.wikipedia.org/wiki/John_L._Thornton , a former M&A banker, able to afford this http://www.palmbeachpost.com/localnews/content/local_news/epaper/2008/0… house? What would his net worth be, relative to this monstrosity ($82m P.P.)?
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