M&A
Hey all,
I am an incoming intern at a MM bank doing M&A, went into that role because of the hype around the money and breath of opportunities for exits after your 2ish year cycle. Haven't start my summer gig yet so can't speak on any experience whatsoever but the more I learn about M&A advisory the less exciting I get (reading books like Monkey Business and such). Revising pitch decks no one will ever look at, flying across the country for no reason, and making tons of useless paper isn't what got interested in finance. Wondering is some people who went though an M&A analyst cycle can give me some light on if that had similar experiences.
Are there any other roles that you would have pursued out of college (like maybe an IB RX role), or is the general consensus that being someones bitches for a few years is well worth it for the pot of gold at then end?
Appreciate all your insights.
Based on the most helpful WSO content, it's common for new entrants into M&A roles at MM banks to initially feel disillusioned by the tasks that might seem mundane, such as revising pitch decks or extensive travel. However, it's important to recognize that these activities are foundational to building your skill set in investment banking.
Many analysts in M&A find that the real value of their early years is not necessarily in the day-to-day tasks but in the cumulative experience gained, which opens doors to lucrative exit opportunities. These can include roles in private equity, hedge funds, corporate strategy, and more. The "pot of gold" at the end often refers to these opportunities as well as significant compensation increases.
If you're considering alternatives, roles in Restructuring (RX) could be an option. RX roles are typically more focused on strategic advisory for companies in distress, which might involve more varied and dynamic work. However, as noted in the WSO discussions, RX teams tend to be less diverse in terms of career aspirations, with most analysts aiming for buy-side roles.
Ultimately, whether staying in M&A or considering a shift to RX or another area, it's crucial to weigh the pros and cons based on your career goals and personal interests. Networking with peers and mentors within the industry can provide deeper insights and help guide your decision. Remember, every role in investment banking, including M&A, requires a period of foundational work that might seem less appealing but is critical for career advancement.
Sources: Investment Banking Analyst after MBA: is it possible? Anyone heard of it?, Post MBA-Associate Roles: As bad as People Say?, A2A - what has been your experience ?, How is A&M perceived in the industry?, Restructuring prospects, why you should not consider restructuring
Bump
How are you this clueless and still got the offer
You will always be someones bitch in this industry regardless of group or firm
can you please elaborate on experience?
This is an entry-level position. Surgeons don’t immediately hop into open heart surgery in their first job. The roles may be tedious but the experience is where you’re growing/learning. If you’re resilient and always land on your feet, you’ll make it in this world.
OP you seem incredibly naive.
Entry level positions are just that. You have to learn all the boring basics.
When you join the military you're taught how to make a bed and polish your shoes. You're not in the special forces doing HALO jumps in week 3....
M&A is really only interesting when you get exposure to the strategy and negotiations aspects of the deal.
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