Update: I took the offer. Lets gooooooooooooo
TLDR: Work in Big 4 FDD and received an offer from MM IB (recognizable name) with their M&A team that opened shop ~5ish years ago. Should I accept the offer even though IB profits are down across the board and the economy is tanking?
Hey everyone,
I'm currently working at Big 4 FDD in NY with a great team with solid hours where I would consider my current role / team a really good situation. Recently, I received an offer from an IB M&A team that focuses on middle market. Not putting details out of offer / bank since its a small team and they def will know who posted this.
The offer itself is not bad and at market based on WSO. The bank has great brand recognition due to its consumer business. The M&A platform was created about 5 years ago and has had steady growth ever since. I want to accept the offer because I want the experience, pay, and eventual exit opps (shallow reasons but whatever). Its been a goal of mine since college and I finally can grasp it. But, I'm not dumb and quite aware of the economy tanking plus IB revenue / profits decreasing heavily. Don't want to be in a bad situation in terms of employment simply because "bad timing".
My current situation is pretty great with my FDD team. I work remotely 100%, my team likes me and gives me high marks, plus my hours don't suck at all (30 - 60). I would 100% be leaving a good thing but making it into IB has been a top goal professionally for me.
Would you guys take the offer?
following
Duh huge upgrade from FDD?
So the situation with the economy / low profits wouldn't stop you? My thinking is if I can get an IB job in a bad economy then in a good one it shouldn't be as difficult. I'm just worried about job security tbh.
If you think you're vulnerable as an M&A analyst, right now you're an ancilla to an analyst's work. You're more expendable in your current work, and don't tell yourself that your current department wouldn't cut you as soon as economically feasible. Even with the most fraternal group with the most chemistry, one that's willing to sacrifice time and effort for each other, the cutting logic comes from a higher power and puts a gun to your boss's head.
Sup wells
I’m in exactly this situation also, choosing between M&A and a safe option!
Agreed, tough decision in my mind even though for others it seems like a no-brainer. Are you going to accept?
Still in process so have not yet decided, currently though I think you kinda have to bet on yourself to survive.
If your fear is getting laid off, you now have IB experience which opens a lot of doors in high finance. I wouldn’t expect them to lay you off in the near term unless you actually suck. If your fear is a lower bonus, meaning lower TC especially for hours worked, I think the value add to your resume is worth it.
thanks for the reply. nice perspective
What does FDD focus on if not M&A? FDD is far from safe when it comes to layoffs…
Take the IB offer no question unless you really want to be in FDD long-term. It's easier to go back than to lateral to banking again.
If you go IB you can easily find another IB job. This might be your only chance to break in, but once you’re in then you’re in.
Anything capital markets related is pretty much dead but the M&A market is still humming along. Things have obviously slowed down but acquisitions are still going on especially in the MM space. Acquirers have a higher bar now when it comes to diligence and there is more of a focus on profitable companies over companies burning cash but deals are still getting done.
Truth. If anything, the layoffs and people leaving are hitting, and IMO there's a lack of mid level (assoc/junior VPs) guys to execute the work. I'm still getting worked quite a bit.
environment didn't seem to stop Kroger from wantinng to acquire Albertsons - huge af megadeal ... wonder who won the mandate
happy for you king/queen🧡
Appreciate it
M&A is chugging along, and IMO will blow up once there is a bit more certainty. Growth is going to slow and incumbents will beef that up with acquisitions, too much liquidity and dry powder out there, valuations are starting to get juicy. It's all lining up.
nah bro not really but nice try :)
Big 4 layoffs are pretty bad during a downtown too. Go IB - living in NYC on big 4 pay is a struggle
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