How does it work with groups that "don't pitch?"
This question is more geared towards senior folks, but would also greatly appreciate any junior perspectives if applicable.
Considering banking as a career but curious about what the job looks like past the associate/VP years. I've heard people on this forum stating how their group does little to no pitching...how exactly does this play out in terms of inking deals? Are the relationships passed down through the group? Do senior mentors at the firm help cultivate the relationships for the associates/VPs?
Any thoughts would be greatly appreciated, thanks in advance!
I think you’re under the wrong impression here. If a group “doesn’t pitch,” that generally means that the MDs or partners have excellent relationships in an industry and that they regularly get inbound business or can easily run through their Rolodex for new deals to do.
There might or might not be a pitch deck, but the deck tends to be pretty light. When people say “we don’t pitch,” they generally mean “we don’t do crapshoot bakeoffs against everyone else where we have a 20-30% chance of winning.” Pretty much every client wants a deck of some sort before signing an engagement letter; the key is how in depth it actually goes and what the win-rate is.
Where your post doesn’t make sense is the Associate and VP part. These relationships tend to be a highly guarded asset that the MD or partner keeps for themselves. They don’t let the little guys get the golden goose. Cheers
I have seen MDs pass down smaller relationships that are not going to materialize while they are in the business. AKA my MD gave a Deal to a director that was much smaller than he normally handles and that he did not have bandwidth to handle.
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