What is life like in BB M&A?
Especially for post-MBA associate roles? Is it harder or easier to advance relative to coverage given the work is more execution oriented? How does lifestyle compare to the analyst level? Thanks!
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Easier to advance at least up to the Director level because you just need to be good at managing a process / people / team. Obviously need really good technical skills and understand the different tax structures and deal structures (RMT, public carve out, reverse merger, lbo, etc) but I think most ppl don’t have troubles developing when they put the years in. You don’t really have to be that good at bringing in clients because your industry/coverage bankers take care of that and just ask you to come to the meetings for intros. Because of this, I think it’s easier to move up than coverage.
HOWEVER, there is no work-life balance. You don’t travel anywhere near the amount that coverage bankers do at the senior level, but oh man your hours suck because you’re on call 24/7 since you’re working on live deals 24/7. No Saturday work policy? That only applies to pitches and in M&A, 90-95% of your work are live deals. On top of that, you’re on at least 4-5 live deals at a time.
That being said, you really really have to love finance and find the deal process genuinely interesting or you won’t last long. Definitely the nerdiest groups at BBs, but also find that people are the nicest and the work environment is really educational more than anything.
^ this spot on, though I will say MDs at my group even if just pure M&A execution also bring in deals
so what r the hours like for a M&A director?
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