What should I do about not getting staffed on live deals?
I work in MM IB at a Big4. I started in late summer 2025 as an Analyst and it's been 6 months and I have not yet been staffed on a live deal. Most of my work have been on pitches (mostly debt raise), business development, and presentations. Even pitches are a bit hard to come by for me.
What's a bit jarring and confusing to me is that 4 (out of 6 of us) of my fellow analysts have already been staffed on a live deal. We all entered between summer and winter 2025.
I have been raising my hand to be staffed on a live deal but it doesn't seem to be helping. So far, I haven't heard any significantly negative feedback from my associates and VPs, just your standard analyst stuff, like attention to detail, try to better communicate, work a bit more on formatting, etc.
It's a bit demotivating because while it's nice to not be busy, I also want to hone my skills. And the less exposure I get, the less opportunities I get to address my weaknesses.
Based on the most helpful WSO content, here’s what you can do to address your situation:
Proactively Seek Feedback: While you mentioned receiving standard feedback, it’s crucial to dig deeper. Schedule a one-on-one with your associates or VPs and ask for specific, actionable feedback on how you can improve and make yourself a stronger candidate for live deal staffing. Frame it as a desire to grow and contribute more effectively to the team.
Build Relationships with Deal Teams: Networking within your group can be a game-changer. Identify the associates and VPs who are actively working on live deals and build rapport with them. Offer to help with smaller tasks or support them on their current projects. Sometimes, being top of mind can lead to opportunities.
Excel in Your Current Work: Even if you’re not on live deals, ensure that your work on pitches, business development, and presentations is flawless. Attention to detail, strong formatting, and clear communication are critical skills that can make you stand out. If you consistently deliver high-quality work, you’ll build trust and credibility.
Express Your Interest Strategically: Instead of just “raising your hand,” be specific about your interest in live deals. For example, mention that you’re eager to gain exposure to certain types of transactions (e.g., M&A, debt raises) and explain how you believe it will help you grow as an analyst. This shows intentionality and focus.
Leverage Your Peers: Since some of your fellow analysts are already staffed on live deals, consider reaching out to them. Ask for advice on how they positioned themselves to get staffed and see if they can recommend you to their deal teams for additional support.
Be Patient but Persistent: It’s only been six months, and while it’s frustrating, it’s not uncommon for analysts to face slower starts in deal flow, especially in Big 4 MM IB. Keep showing your enthusiasm and willingness to contribute, and eventually, opportunities will come your way.
Consider Broader Opportunities: If the situation doesn’t improve over time, you might want to explore lateral moves to other firms or groups where deal flow is more consistent. However, this should be a longer-term consideration if internal efforts don’t yield results.
By focusing on these steps, you can position yourself better for live deal opportunities while continuing to develop your skills and relationships within the team.
Sources: Offer rescinded what can I do now?, Guide for Investment Banking Full-Time Recruiting, Cant do it anymore, Virtual SA - how to fill in the downtime?, What's happening during live deals?
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