No execution experience?
Almost two years into banking and I’ve had zero execution experience in the past year. At a top coverage group at a top bank (JPM+).
I’ve been on two live processes that died early.
All the meaningful work goes to two associates.
I don’t get to coast because my time is filled with boil the ocean business development projects (reading endless reports and research).
Should I just try to lateral? Leave industry?
Specify a bit more on no execution? I.e. not owning model/doing deck/follow up on docs etc?
Don’t want to dox myself.
I have worked on valuation and owned the model on one project to date.
I just haven’t been though the entire m&a process so feel behind my peers.
This is the one complaint you hear sometimes with the BBs. Your role as an Analyst is very compartmentalized, micro-managed and filled with task completion work but nothing where you get to really exert much influence or control over the actual final work product.
Need more info though. Are your peers being staffed on live deals and you're getting shafted with Biz Dev stuff because you made a few mistakes on previous projects? If so, that's an issue you need to fix and no sense lateralling unless you feel turning your rep around is going to be impossible. Are you in an industry that's just getting smashed right now? If so, that's a global issue and no sense lateralling unless you're also trying to switch industry/product groups.
Then there's the issue of PE recruiting. Are you looking to go buy-side in the next 24 months? If so, I wouldn't down-tier to a MM bank just to try and recruit for PE a year later. You'll have better options from the BB and can embellish your resume enough to get two deals on there that you can speak about.
TL;DR: I'd only lateral to a new bank if A) You're sure you will get much more live transaction experience, B) You don't believe the situation will naturally improve at your current bank AND C) You're planning on being a career banker and not recruiting for PE in the next 16 months
Firstly, and to avoid leaving on bad terms if you do leave, raise this with your MD / Group Head / Staffer. Certainly don't throw anyone under a bus, but just raise this as a concern. At a minimum, you'll have this (mature) conversation to refer back to if you leave, but at best your seniors will actively work to help you get that experience.
Second, this isn't totally unusual right now; every bank across the street is seeing volumes decline, and for myself my time is much more marketing-oriented than 18 months ago. It doesn't feel good, I know, but remember the MDs don't love it either.
Related to that, laterally jumping might not solve your problem. In fact, it might make it worse, as you'll be starting from no reputation / trust internally, and no background on certain situations which might develop into deals (IB is a long-term game where Business Development 18 months ago might crystallise into a deal today).
Unless you think the lack of deal flow is truly endemic in your team, or there's a personal problem with how your colleagues are staffing you, I'd be cautious about leaving for this reason alone.
Same bro lol, pretty much one guy on the team gets the bulk of the action, had one live deal which died and I've been here for long enough that I should've gotten the exposure. Have no idea how tf I'm gonna make it in PE if I haven't even so much as opened a model yet or have gotten truly hands on on a live deal. Have buddies who tell me they're also getting no action though, seems to be moreso the market.
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