No deal and no pipeline - waste of time?
Hi I am a 1st year analyst in a BB for several months. Up to now, only have done housekeeping / administrative / non-meaningful work and no live deal is on for me. To make things worse, we have no possible pipeline in the foreseeable future due to my "capable" boss. I am considering what I should do and seriously thinking about leaving, but this awkward situation allows me to put nothing meaningful on my resume... wonder if anyone could advise on the next step? should I keep waiting here?
What kind of BB IB group has no deal flow at all? Are you in coverage or product? Which location?
Bump. Agreed it’s unlikely a B.B. group has such poor deal flow
won't say too many details though. coverage, a quite hot industry, but really no deal. the clients in that industry do not trust our MD...yet the worst hour across the floor
Same here. Will coverage experience be a deal killer to PE?
You mention that your at a BB with a hot industry, but there is no deal flow?
Without more details to work from, I would say you may want to consider looking to lateral although an issue you may run into is speaking about your current role due to a lack of deal flow.
Questions:
Is there a lack of deal flow from just M&A or are you speaking more generally in terms of Capital Markets as well?
Are you at a regional BB?
How much pitching is your group doing?
general capital markets..a privilege BB but not in the headquarter..tons of pitching but clients slide to our competitors
I am trying to connect with other BB and see if I can transfer still as a first year analyst, but it's really hard to justify what I have done here and due to the weak market, there are no opening position for IB now..
That to be said, I still would like to ask how I could update my resume and maybe try to put it online to see if possible to get some opportunities?
I would say look to lateral as soon as you can. Also, try to move into a group that has better mix of M&A and Capital Markets (predominately M&A if your looking at PE for an exit).
While strength of the bank matters quite a bit (in terms of BB vs. MM and so on), experience is true hallmark for the recruiting process. I was at MM where I was generalist and did all M&A (mostly sell-side). I did not realize it at the time, but that experience (plus the deals I closed) had an incredible impact on my career trajectory.
As for you resume, is there at least a deal that you are staffed you can list as "Project [CODENAME]"? and list some responsibilities you have or will have?
You're the MD now. Pick up the phone and start dialing.
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