Reach out to HHs to lateral upstream in IB?
Currently, I work as an analyst at an LMM firm where we handle deals under $500 million. I’ve been trying to move upstream to MM or BB firms but have been struggling to make the transition. I’ve been actively networking and applying since I started after graduation, and it’s now been 7 months without success.
Lately, I’ve been considering reaching out to HHs to see if they can help me. However, I’m concerned about whether this might burn bridges or create a bad impression, especially if I decide to pursue PE or another path in the future. I’m also unsure about the etiquette around this. I assume headhunters typically work with a select pool of candidates from firms they prefer, so I’m not sure if this is the right move. Any advice on how to proceed?
Based on the most helpful WSO content, reaching out to headhunters (HHs) can be a strategic move, but it requires careful execution. Here’s how you can approach this:
Timing and Preparation: Before reaching out, ensure you’ve prepped your story thoroughly. Be clear on why you want to lateral to MM or BB firms, and articulate your value proposition. Highlight your deal experience and how it aligns with the roles you’re targeting.
Initial Outreach: Start by identifying the relevant headhunters who specialize in IB placements. You can ask colleagues or alumni for recommendations. When reaching out, keep your email concise—introduce yourself, attach your resume, and mention your interest in exploring opportunities at MM or BB firms.
Etiquette and Transparency: Avoid mentioning that you’ve been struggling to transition or that you’re considering other paths like PE. Instead, focus on your enthusiasm for moving upstream in IB and your readiness to contribute. Headhunters are more likely to champion candidates who appear confident and committed.
Networking with HHs: Building a positive relationship with headhunters is crucial. They often decide who to push forward based on their impression of you. Be professional, responsive, and prepared to discuss your experience and goals in detail.
Avoiding Burned Bridges: Reaching out to HHs won’t burn bridges if done professionally. However, don’t overcommit or mislead them about your intentions. If you later decide to pursue PE, you can still leverage the relationships you’ve built with HHs, as many also cover PE roles.
Alternative Strategies: While HHs can be helpful, don’t rely solely on them. Continue networking with associates, VPs, and alumni at MM and BB firms. Cold emailing and informational interviews can also open doors, as highlighted in WSO threads.
Remember, headhunters are there to help place candidates, but they prioritize those who are clear about their goals and prepared to make a strong impression.
Sources: My Path - MBA Banking Associate to PE, Q&A: Big 4 Consulting to Lower MM IB to MM IB (No MBA)., Most badass way to decline an offer?, Private Equity Recruiting Process (From Banking), Non-Target to MM IB: My Advice
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