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.
Comments (5)
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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