MM to BB Process/Advice
Looking to lateral into BB / BB-adjacent coverage & trying to understand how this process is different from undergrad recruiting.
Long-time lurker, first real post. I'd really appreciate advice from anyone who has made the jump from a smaller shop to a BB or top-tier big bank, either as an Associate or as a senior analyst.
Quick background:
- 2.5 years of experience at a small middle market bank, recently promoted to Associate
- Generalist role; mix of M&A, ECM, DCM, do work across a few sectors
- Solid reps: multiple closed deals, usually the lead or sole modeler
- Non-target but good school, solid GPA
I'm not trying to get out of banking. I want to work with bigger, more mature businesses with real operating history, so the modeling goes deeper (not just simple 3-statement builds, more complex M&A / LevFin structures, etc), and so I can see a broader range of products. I'd also like a stronger brand and better training.
I enjoy the nature of the work despite sometimes terrible WLB, but am now feeling like I am plateauing on learning side. Think coverage is a great space too as I imagine you own most of the relationship which appeals to me versus being a pure execution drone. Correct me if wrong or if different perspective.
Questions:
1. Title: should I shoot to come in as A1 or as a sr. analyst? Is taking a step back in title normal, and is it worth it? Willing to step back if it gives me a better chance.
2. Process: headhunters or direct networking? Which recruiters actually place laterals at BBs?
3. Selling my experience: how do I frame my smaller firm experience in early stages so I dont get written off?
4. Interviews: what's different from analyst recruiting? Deal walkthroughs, modeling tests, case studies, "why leave your current firm"?
5. For people who've done it: what do you wish you'd known? Any regrets about trading the responsibility of a smaller shop for the brand?