Ignore tagI’m an incoming IB SA at a balance sheet bank but have been working at a sub LMM M&A Shop on origination for engagements for the last few years. Really love researching industries, learning various LMM PE strategies/thesis's, connecting with founders and building a working relationship. Have been pretty successful and generated 6 figures+ in revenue so far.
Is there any way I can use this skillset or even just experience to help support my senior bankers in their workflows or is it better to just stick to analysts duties?Do people who show promise/initiative get rewarded or frowned upon at analyst level?
I'm extremely excited to spend a good bit of time learning way more about corp finance/m&a as an analyst, just don't want to lose the part of the job that seems the most fun and would love to learn from a good mentor on the revenue generation aspect of the gig
There was another interesting post on this with "rainmaker analyst". But in short the answer is, stick to analyst duties. That is why you are being hired. You can always try to get into biz dev if this is what you want to do, but in IB stay in your lane.
A bank has no intention of paying an analyst to run around and be a coverage officer.
When you get into the larger firms the minimum fee for even the smallest engagement (unless it's a tip) is in the millions of dollars, so deals need to be bigger, and if it's any sort of corporate, the bank already has contacts.
For smaller founder businesses, it also may be below the purview of the bank more broadly (think minimum ebitda levels)
I applaud your drive, and agree it is one of the more interesting parts of banking (which is why many people stay), but you're not going to be able to sell the trusted advisor angle without having done a transaction or executed a deal. So bolster those execution skills and slowly transition into the role as your career progresses.
I appreciate it, definitely don't want to step on any toes. For a little bit, I was considering commodities S&T because of the quicker ramp up time for the sales aspect but I'd much rather learn the industry and try to provide value/insight to clients later down the roadWhat is the earliest you'd think it would be appropriate to approach a senior banker with interest in this aspect of the job? (Associate II / VP I?)I networked with a few associates at a MM tech group a while back and understand they were beginning to network to build a small Rolodex in uncovered sub-verticals.Would the bank care if I was networking on my own time ( I realize it'll be rare to have too much downtime) just to speak with more people and get a feel for whatever sector I'm helping cover?
It's a natural progression. Develop the skills, do deals and develop relationships in the process.
The reality is that through VP years you are focused on execution (however different aspects of it) even early Director years you are partially execution, but that's where you really are starting to focus on pure sourcing, but are 50/50 execution and sourcing with an MD, being their right hand man to get it done.
So the reality is, at least in IB, mid-late VP and Early D is when you start thinking about sourcing, until then, learn the craft and don't get ahead of yourself. Or, just find a business development role. Even sponsor coverage the sourcing is D and MD. That's just the nature of the business.
If you have some super unique angle that's not "my dad is friends with a guy who went to college with.." and want to make an intro, could consider bringing it up. But the rolodex comes in time.
Got it - thanks so much for the insight. It's hard to have these convos during networking calls so appreciate the help
Fix your tag intern. What’s the point of having them if you’re just gonna lie?
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