Is Rx consulting to ECM IB possible
Some background: Three years in Rx consulting work mostly tech projects for big PE and VC funds but have worked on projects in a lot of other industries as well (retail, A&D, HC, energy).
I was reevaluating why I got into finance to begin with and since I started learning about stocks/ finance when I was 13/14 I found ECM and IPO’s so interesting…. I loved it. As time went on and as opportunities prevailed I ended up in Rx consulting because I also liked learning about how companies worked and how some failed. But mostly went into the field because it was the best opportunity I got to break into finance (non diverse, non target, male)
I’ve got good modeling experience and financial acumen being ft for three years and having a passion and loved learning about investing from a young age.
Is it possible to ever be able to break into ECM working on IPOs with my experience? I understand market rn is very difficult to lateral and I’d 100% be willing to take a AN1 role. But is this even possible given my background?
In ECM you do not modelling - you look at market data and run the process of IPOs, sell downs and other transactions.
If you really wanna learn about stock market and leverage your modelling skills set - go to ER in a bank
Do you have any tips / things to consider when recruiting for ECM / ER? I’ve had no luck in recruiting for IB (Rx groups are the only ones where I can even get a first round and they are still few and far between in this market)
ECM is slow for last two years very limited or no hiring at all.
ER small teams compared to anything. Follow him for ER richard toad on YouTube.
The only thing is you gotta push for networking
Bump
I don't have much stats to help put your mind at ease, but anecdotally, I know one kid who had a financial consulting / little bit of RX consulting background, who exited to ECM at an international bank within the last few years.
Best of luck.
For what it’s worth it makes me feel a little better that it has been done. I’m sure networking will play a big role in being able to get an interview.
Why tf would you wanna do ECM/DCM of all things that’s like the one step above pubfin
Struggling to get ib looks for rx groups considering my experience is consulting rx not ib. That being said still want to break into ib and am considering attainable options in this hiring market. Also have interest in markets.
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