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Still a student here, but I've been told firsthand from analysts/former analysts at Harris Williams that the MDs almost literally get you a job in MM PE firms.
Yeah I came across those threads too. Was thinking WB, Baird, HL, Raymond James, Stifel, Jefferies, Gugg, Oppenheimer
Kind of disrespectful to Guggenheim to call them a MM bank.
Edit: not sure if the shit is from people who understood or misunderstood me, but I mean I consider them an EB, not like the others mentioned above.
TPH has some great placement as well if you're willing to live in Houston
Bulge Bracket IB is the best way to get to MM PE
Can you reread the thread title.
Nice attention to detail. Looks like I found someone who would never make it at a B.B. or EB
Harris Williams has an outplacement program to help analysts get into PE. This is 100% anecdotal but from looking at LinkedIn it looks like just about every analyst at HW gets into PE but some go to places with like $300M AUM and some a few go to pretty big shops and a lot go somewhere in the middle.
I agree with your username. I've heard that and just recently learned about them.
Most of the good MM firms have solid placement (Blair, Baird, Houlihan, piper, HW). See lots of Blair and Baird guys specifically.
Are we considering Jefferies and RBC middle market banks? If so, those two definitely take the cake
I would think that both of these are out of the MM space st this point other than their respective MM teams - if they have them. What about LAZ MM or Stephens?
Seen people from both, more from LMM.
What is the deal with LAZ MM, is it not a good place? It carries the LAZ name but apparently not the reputation??
Is it possible to go from mid-level MM IBD to MM PE? (Originally Posted: 11/24/2016)
Hello everyone,
I'm a long-time lurker of WSO, and am finally venturing out with my first post. I actually want to start off by thanking everyone for their contributions to the community. I can honestly say that I would never been able to land a junior FO finance internship with 0 past experience or knowledge, let alone lateral that up to a full-time IBD offer, without the information provided on this form.
In any case, I have a rather simple question regarding the possibility of moving from mid-level MM (think RBC, Macquarie, Piper Jaffrey, Nomura...) to a top MM PE firm. The reason that I ask is because I have read many posts here describe how incredibly difficult it is to move to top MM PE firms from anything other than a BB, or with more difficulty, a top MM (HLHZ, WB, Jefferies). However, is it commonplace for analysts at the mid-level MM's to land spots at the top
The reason that I ask is because I will be starting next year at one of the above firms, and believe (not 100% sure yet, since I haven't even started banking yet) that I want to end up in MM PE. Thanks in advance for taking the time to respond.
Seems like a little bit of cart before the horse. Wait until you've started your role, figure out how things work and what you like / don't like before you start thinking about your next gig. In terms of your question though, obviously nothing is impossible and if you're on a good team, with good deal flow and you network, you would be in a good position to do what you want afterward.
Definitely. I just wanted to make sure it was possible, and that I didn't need to start looking to lateral to make the move. Hopefully my group has solid deal flow / modeling exposure, but if not, I guess I could always self-teach myself the requisite LBO modeling through BIWS or WSO videos.
Of course it is possible. It will depend on whether you are crushing it at your analyst gig and network effectively.
Yes, it's entirely possible. The most important thing will be for you to perform, and then effectively communicate that performance to headhunters when they reach out after you've been on the desk for a bit. Focus on killing it and build relationships with Associates / VPs who will eventually serve as strong references for you with HH's. Impress your superiors, impress your HH's, and you'll get the chance to interview for some good shops.
Also - Make sure you take some time to figure out what direction you want to go after you actually start working. Too many kids try to take the first buyside opportunities they get. You may find out in six months that MM PE isn't where you want to be. I used to think I wanted to work at a mega fund when I first started banking. I've gone an entirely different direction and love it.
Thanks so much for the advice! Extremely helpful.
Can you elaborate a bit on what you do now / the decision process that you made when turning away from the Megafund path?
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