In a coverage group but not getting much M&A experience
Finishing up my first year in a industry coverage group in a few months. In my time here, I've worked on IPOs and debt financings, but haven't had much chance to work on M&A. Some pitches here and there, but no live M&A. I'm in a subindustry that isn't super acquisitive, so that may be a factor, but regardless of why, wondering if I should be looking to move elsewhere.
The only issue I come across is that other more advisory focused groups seem to look for people with "direct M&A experience" which makes me wonder if I'm wasting my time looking at those openings.
Essentially, I want more M&A experience, but it seems like boutiques and more M&A focused groups want past M&A experience in their laterals. Advice?
I lateraled to an M&A group at a BB from a coverage group at a low BB without any M&A deals on my resume. Probably only possible this year where banks just need bodies. It is possible though.
On 2 live sell-sides and just closed a SPAC merger. Took a few months to get confident again, but haven't truly felt out of place yet.
Advice is just to send it FYI. Just apply to these groups and send a note to someone in the group if you need to get a better feel for the group. Then speak confidently to your experience and why you want M&A reps (assume answer is PE lol but can't say that so explain you want the complexity / strategic discussion / to understand true drivers of a business' economics / negotitation / etc. pick your poison)
Sounds like HSBC
Not at HSBC
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