MM in 2023?

Just want an update on the current middle market banks, I know I want to go to a MM bank and that's how my profile plays(3.5-3.6 GPA non-target non-diversity) with connections, where is the cutoff from MM to LMM and any advice on best groups at the top MM banks?

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Lincoln is hq in Chicago so a large player. Founded on industrials and does well- usually operates with smaller deals will get solid reps.

Baird is also a large player- good industrials group but notoriously sweaty (investment banking is sweaty)

Hl- smaller office but respected shop. Strong industrials and consumer food and bev teams.

Blair- large player hq in Chicago. Operates very well in healthcare and especially tech- struggled past year with layoffs, low return offers, and low bonuses. But still a large and respected shop.

 
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I had a similar profile when recruiting a couple years ago (obviously different market) and was fortunate to be successful. What I’d say based on my own experience is that Blair, Baird, and RJ tended to be less receptive to me and HL, Truist, WF, and HW were the most receptive to my efforts when recruiting. Didn’t really network too much with Lincoln or Piper but both seemed somewhat receptive to some of my friends with similar profiles.

Best piece of advice I have is cast a wide net at all these firms and give it your 100%. Also recognize you’re going to have a higher bar to clear given your background so you have very little wiggle room for error (make sure you don’t whiff on a basic technical if you’re given an interviewing opportunity).

 

Thank you so much! Are you at one of those MMs right now and if so have you noticed that the culture reflects that kind of friendliness they showed you during your recruiting?

 

I am at one of the above and I definitely have nothing but positive things to say about the culture here. I would caution though that positive experiences during recruiting (and likewise negative) are not necessarily indicative of the culture of the group, however. At the end of the day while these MMs still run lean they have a lot of folks and just because you meet 2 or 3 out of 30 in a group and feel a certain way towards them doesn’t mean you will feel the same way toward the broader group.

 

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