Hey everyone, have an internship coming up doing levfin at a mm firm(Think TD, RBC, Jefferies), and wanted to know what my rerecruiting chances would look like and if its feasible to want to move to a EB or BB(doing private capital advisory, private debt advisory, or levfin). Thanks!
Based on the most helpful WSO content, your chances of re-recruiting from a middle-market (MM) firm like TD, RBC, or Jefferies to an elite boutique (EB) or bulge bracket (BB) are feasible but will depend on several factors:
Timing of the Move:
The best time to lateral is typically 6-18 months into your analyst program. This allows you to build a solid foundation of skills and deal experience, which are critical for making the jump to a higher-tier firm.
Targeting the Right Groups:
If you're aiming for private capital advisory, private debt advisory, or LevFin at an EB or BB, focus on showcasing relevant deal experience and technical skills. Highlighting your expertise in leveraged finance will be particularly valuable.
Networking:
Networking is crucial. Reach out to alumni or professionals at EBs and BBs who have made similar moves. Building relationships and getting referrals can significantly improve your chances.
Performance and Deal Experience:
Strong performance reviews and meaningful deal experience at your MM firm will make you a more attractive candidate. Be prepared to discuss your contributions to deals in detail during interviews.
Headhunters:
Engage with headhunters who specialize in lateral recruiting for investment banking roles. They can help you identify opportunities and guide you through the process.
Challenges:
Keep in mind that competition for lateral roles at EBs and BBs is intense. You'll be competing with candidates from other MM firms, as well as those already at EBs and BBs looking to switch groups or locations.
In summary, while it's definitely feasible to re-recruit from a MM firm to an EB or BB, success will depend on your networking efforts, deal experience, and ability to position yourself as a strong candidate.
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Based on the most helpful WSO content, your chances of re-recruiting from a middle-market (MM) firm like TD, RBC, or Jefferies to an elite boutique (EB) or bulge bracket (BB) are feasible but will depend on several factors:
Timing of the Move:
Targeting the Right Groups:
Networking:
Performance and Deal Experience:
Headhunters:
Challenges:
In summary, while it's definitely feasible to re-recruit from a MM firm to an EB or BB, success will depend on your networking efforts, deal experience, and ability to position yourself as a strong candidate.
Sources: https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, Q&A: Non Targ -> BB Coverage Group -> Incoming MM PE, 2019 Sumer Analyst Recruiting Starts, Your thoughts on William Blair & Company?
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