Is my modeling experience typical? - MM Boutique Analyst
I am currently several months into my second year as an Analyst at a medium sized middle market boutique bank in a major midwest city. My experience has been great, and I know it is far off but I am already thinking about what my options will be in less than a year.
However, as of right now, the amount of modeling I have done is minimal. Beyond putting together a model for each deal, as well as standard comps/dcf/LBO for some pitches (we are exclusively sell-side M&A for LMM companies), I'm not spending much time on modeling. Most of our pitches don't actually involve putting together a model because of the size of the companies we deal with. We also aren't doing any transaction modeling at any stage of the deal, only operating models with projections. The vast majority of my time is spent on M&A execution, which is great, but I worry certain hard skills aren't being improved.
At how much of a disadvantage am I when it comes to trying to lateral into a bigger MM bank or even trying to get into LMM PE (I know that is a long shot)? Is this typical for LMM banking, where most deals are smallish privately held companies selling into some sort of PE backed deal?
For those of you working in true MM banks (Lincoln, HW, Jeffries, Cowen, etc..) how much and what kind of modeling are you doing and at what stage of the deal process? I know I am showing my ignorance here but I am curious.
Thanks, just curious to see how common or uncommon this experience is.
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