Lateral Advice: NYC Analyst from MM to BB P&U/Energy
Hi I’m just going into my second year as a coverage analyst in NYC at a MM bank. Looking for advice on lateraling to a BB IB P&U/Renewables team? For background, I interned and accepted the return offer during Covid and went to a top school.
My situations is I like the people on my team, but want to switch sectors to P&U/Renewables in a more deal flow heavy team. Currently on a coverage team and have worked on two transactions in the past year (>$1bn acquisition financing and an advisory role on an acq. bid in which the seller then ended the auction without selling).
Has anyone made a similar lateral move? Any tips for the process (links to other threads you found useful)? Any thoughts on the current market for it (re: hiring freezes)? Any recs for prep in P&U/Renewables?
Separately, thoughts on finding mentors and how that outreach differs from lateral-minded networking?
PS I’ve been doing some cold outreach for the past few months and have had some good convos, intros to other team members, but nothing past that.
Have a feeling you’re talking about going to Citi and the answer is a huge NO.
What’s your take here? No, as in avoid the group? Or something else?
Why is that? Looking at the same opportunity.
Not having a power or energy background will hurt.
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