Stay at current lower MM role, or move to a better lower MM?
Looking for some advice. I am currently at a lower MM (25M-100M), and recently, I have begun being heavily involved in bringing in business (with a guaranteed % bonus for each deal brought in). I feel like I don't have enough experience to be successfully networking with CEOs, but the potential bonus is nice.
I have an opportunity to join an industry focused lower MM bank, and they compete with teams from BBs for business and have some really nice deals including ones with top sponsor. Their industry is a high growing industry and typically considered top 5 for most firms. Also, they will give financial model training and allow me to really learn an industry, rather than trying to bring in business with limited knowledge.
Which role would you go with?
how many years have you worked / whats your title? what about long term goals?
I have almost worked 6 months, and I want to do either MM PE or Corp Fin. Honestly, I would like to keep my options open. The advantage to the business development role would be that I would have a pretty large network, but possibly not as quality of experience in financial modelling.
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I think what @"okay24" was getting at, is where will you be at the new job and how does it compare in terms of title for your existing one?
If you are going to start at the other bank as an analyst or associate, you may see a significant reduction in work-life balance. How many years of experience do you have?
My thoughts are, if you can lateral to the new job at a VP level or higher, it would be solid. If you have to start as an analyst, I may not find it worthwhile to lateral b/c of the change in responsibility and culture.
Associate is more of a toss up. You'd definitely get better experience and it would be the better long-term choice from a career perspective, but it may interfere with your personal life (i.e. are you married/engaged/serious relationship?, have kids?, etc.).
Without knowing more, it would be hard to provide exact advice IMO.
Oh sorry for being vague. I have been an analyst for only 6 months, and the other role is essentially a direct lateral into a 1st year analyst role with some experience. So same title if I switched, but I wouldn't be directly involved in networking to bring in deals, which sounds like an awesome opportunity, but I am not sure if a 22 year old would even be able to source a deal.
Definitely agree w/Duff. You would struggle mightily in BD. Too many referral sources are grey-haired and your lack of experience and deal complexities would make it nearly impossible at that age/level.
Lateral to a stronger shop where you can improve your modeling and execution skills.
Don't get me wrong, that stuff is all very valuable. I attend many networking events and try to mingle with the deal community as much as possible. But if you aren't gaining the modeling and execution, you may come to regret it down the road. From a long-term perspective, you are better off taking the job at the better (and more active) IB.
Thanks, at first I felt bad about leaving, but, this is my career. I am definitely leaving my current role, but I also got an offer with Duff and Phelps as a valuation analyst on their Tech team. For industries, technology interest me the most. My main goal is to really understand the fundamentals of financial analysis and have a good strong foundation while I am young, but still have my options open for corp fin, IB, or buyside (tech would be nice, but I'm not picky). The industry boutique is not a tech one, but it is a highly regarded and a fast growing industry. For my goals, would the boutique still be better than Duff and Phelps Valuations analyst?
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