PJT/Lazard/Evercore/Moelis Secondaries to UMM/MF FT 2024
I'll be at PJT/Lazard/Evercore/Moelis in their secondary team this summer and was wondering if it would be possible to recruit for top M&A at another bank or even recruit for MF FT?I understand that my firms name is strong, but given I am not M&A, would it still be possible to get in the processes?It is a 10-week internship, so I don't see how my experience would be materially different than someone in M&A, and I'd learn the same core excel/PowerPoint/word/outlook skills so was wondering. Thank you!
In similar position except PCA is at a well-known MM (not an EB) and was looking lateral to MM/EB M&A as a FT.
I pray its not HL lol.
Can you expand on this?
bump, curious about this too
SA to FT analyst at top M&A - possible. MF FT - highly unlikely.
Why do you think MF FT is unlikely? I’d do training with M&A group and would have exposure to modelling as well.
What do M&A interns do in the 9 weeks which I wouldn’t do?
I also have other good previous internships at MM PE and MF
Thank you
You're in secondaries. you're on the same level as the ECM team. You will not have the same summer.
Tell me you know nothing about secondaries without telling me you know nothing about secondaries
Is getting an interview more difficult or converting the interview?
Let me give it to you straight. You get zero M&A model or company training in your secondary advisory SA job. Zero, nada. You will sometimes touch comps and LBOs, but this is actually pretty rare. For the more "analytical" parts of the job, you will take what the PE firm gives in the form of investor relations reports and extract those numbers into a template or marketing deck.
Regarding MF PE - those jobs are so few and hard to come by. Unless your last name is Moelis / Schwarzman / Solomon, the chances of you coming from secondaries to go to MF PE is pretty much zero.
As an SA, you'll spend most of your time moving logos, carrying bound pitch decks, sending requests to the print / graphics departments etc... in some cases you'll touch models as a SA, but not that common.
As a FT Analyst in M&A, you do all the modeling you just mentioned plus running point on processes, due diligence, etc.
I get that, but what I'm kinda confused about is, if most of an interns time is spent moving logos, carrying bound pitch decks, printing etc
How will my experience as a secondaries intern differ from a m&a intern?
This is within the context of MF FT interviews
Main difference? You get to put names like Morgan Stanley M&A or Centerview M&A or Evercore M&A etc. on your resume and you get an experience more similar to what you'd do in PE. Secondary advisory is miles and miles different from real M&A group and work. You move logos in PPT in marketing or brand agency jobs too - it doesn't mean the work is anywhere similar to what you do in MF PE. Having those names are a signal to employers.
Hope that helps. If you want to get into MF PE you're best off trying to get into any good IB analyst program and then get into PE 2 years later
What about going from a mid-tier EB RX role for MFPE? Is that a possibility?
Does anyone know timeline?
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