I work at an extremely buy-side heavy shop, where do I go from here?
First job out of school (non target but had great grades). Mid Atlantic. Been here a little bit less than a year. My base is roughly 60% of “street”, expecting 30-50% bonus. Will be lucky to be over 100k (I know how spoiled I sound). I do little technically demanding work like what would be normal in an exclusively sell side shop, although I get some exposure. Most of my day is outreach, taking intro calls with founders/c-suite execs, client calls, etc. However, I work 40 hours a week. In office at 9, out at 4:30-5pm, little to no weekend work which is a perk that I’m not trying to understate.
I’ve been contacted by recruiters and have taken part in a few processes (both PE and other more traditional IB’s). The feedback has been universally “They loved talking to you and you present well, they just didn’t think you had enough technical experience due to most of your work being on the buyside”. I’ve done a lot of self study but feel like I can’t compete with people doing it every day.
As a result of this I feel like I’m missing out on opportunities that those at more traditional banks would have. Trust me, I’m not itching to work the “normal” industry hours but feel like I’m squandering the start of my career. I’ve been told by my superiors/recruiters that I’m a good communicator and excel at talking to those I contact every day but can’t seem to translate that into a position with better comp. Where do you think I go from here? PE origination, corp dev, B-school then more traditional investing role at a PE? Just chill for a min? Goal here is to maximize comp. Bit lost.
Just trying to be helpful here, but what you're saying doesn't make sense
On interviews I had as an associate / VP when looking at corp dev, first question (often the recruiter) is how much BUY SIDE experience have you had
Sell-sides generally never require meaningful analysis other than building an operating model. Maybe some high-level ability to pay, etc, but buysides are where you typically get into the real analysis (acc/dil, paydown, use of tax assets, etc).
Not saying you're lying, but that feedback doesn't make any sense. I'm also confused by what you mean by a buyside heavy shop.
By Buyside heavy shop, I mean I work at an IB that provides traditional Sell Side services but where the majority of the engagements (probably 70%) that we have are attributable to PE firms or strategics coming to us and saying “we want you to go out and find a company in xx industry with at least xx revenue, etc.” So essentially what I do is go out and qualify targets all day whether it’s through cold calling or email outreach and gather basic information from those that agree to have a call. Little to no involvement in the financials or any modeling (unless our client happens to be very unsophisticated), simply just sourcing deals.
What sector
Why aren’t you doing any modeling/technical work if you do traditionally sell-side M&A? So you’re getting leads from strategic and sponsor buyers who have you source potential targets and then your bank takes the lead as the buyside advisor or is there a different type of dynamic?
would thing about PE investor relations position especially if you are very likeable and a good communicator which it seems you are.
I will definitely look into this. Appreciate it.
Est corporis nulla corporis ea provident rerum. Minima incidunt odit est non est.
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