IB - Non-technical Exit Opps?
Hey everyone, super long post but I’m really hoping someone here can help a lost analyst. As for background, I just finished up my first year in the M&A group at a BB.
Here’s the thing: Working in M&A for a year has made me realize that I despise the technical side of finance. To better phrase it, I actually really enjoy high-level valuation/modeling, but once it gets to the nitty-gritty super detailed operating models (ex: power and infra especially), tax accounting/laws, NOLs, DTA/DTL, etc, I lose all types of interest. Same goes with doing crazy amounts of scenario analysis and modeling out all the tax or whatever implications of how the deal would look for if it was a MOE, SPAC, RMT (reverse morris trust), carve out, etc. I’m also not a fan of working in Excel for the majority of my day, and I hate the due diligence process, working in data rooms (this makes me want to shoot myself in the head), and basically always being the numbers expert without having any say in the high-level aspects of a business/investments. I’m naturally a very qualitative person (went to a liberal arts college and loved it), and everyone says that I’m a great people person. I love talking with others, presenting my ideas, making relationships, etc and I wish I could talk about more than just numbers in the meetings I’m allowed to speak up in.
I just got my reviews that I’m one of the top analysts and I’m good at all this technical analysis in modeling but I genuinely hate this type of work. For this reason, I decided that I will not recruit for direct PE or corporate development. Believe it or not, I actually really enjoy working on M&A deals, as I find the process exciting. However, I just wish the work was less technical. I’m wondering if I should do something along VC/GE or even PE secondaries or FoFs. Would Investor Relations for a PE firm be a good fit? I even thought about becoming a headhunter lol. I actually wouldn’t mind continuing to work long hours if it meant I can focus on high-level technical work and I’m able to use more of my qualitative skills.
Are there any deal-focused jobs on the buyside that doesn’t require as much technical skills or dig deep in due diligence? Really appreciate it!
why not just be a banker thats "high level" and "not in the model"
Plenty of those around at any BB - especially in coverage groups
Just backslap your way through a deal process - go golfing/clubbing with clients
Bring in the deals and hand off the numbers to some schmuck in the group/bank that will hash out numbers with the CFO while you and CEO go wife swap (like Sage Kelly)