Internal lateral from coverage to M&A (focused on coverage)
Currently ASO2 in a coverage group
Recently did really well on sellside and the M&A team director I worked with casually mentioned they are looking for a VP1 and said I could be a fit. For context this is an industry-adjacent M&A team so they do a lot of work with my current coverage group.
She would vouch for me with the M&A MDs (who all like me). I've enjoyed the M&A deals I've worked on as well, and the title jump / early promo would be cool as well.
A few concerns: I joined my current coverage group a little less than a year ago, so I would be leaving pretty quickly (even if joining the adjacent M&A team). And I see some downside risk here if I express interest and things don't end up working out.
Any thoughts would be helpful -- if anyone senior would be willing to connect off the site / give some mentorship and advice in this situation I would really really appreciate it!
Do you want to be an execution person? The more valuable skillset at VP+ is coverage.
A few thoughts here:
The +EV route is probably staying in my current group and gunning for MD but I want to set higher expectations for myself (MD @ BB / EB).
Why not lateral to BB coverage now? It’s better to lateral as associate vs VP
Bump
Agree with well rounded coverage and execution in coverage (a lot of PE even at junior levels is not just modeling but internal and external facing work). Unless that team can guarantee a seat or has a track record of pushing people into PE may just stay put and focus on where you are trying to get to.
Have a pretty good sense of where you are based on the info you said and yes I’d make that move any day. It’s a no brainer. The M&A team are seen as the “brains” of the firm by senior mgmt and it’s a top priority to make it in M&A. Coverage is seen as a commodity given the size of your balance sheet.
Thank you -- really helpful. Could you just comment what firm you are thinking of? I'm pretty sure we are aligned but would like to be sure here. Thank you.
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