When do I get my deal toy?
At an EB and about to close a transaction. How does the process work for when the closing dinner takes place? And when we get a deal toy? Or if we even get those? Lol
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Based on the most helpful WSO content, deal toys and closing dinners typically happen after the transaction is officially closed. Here's how it generally works:
Closing Dinner: Once the deal is signed and closed, the team usually organizes a closing dinner to celebrate the successful transaction. This is often planned by the junior team in collaboration with management. The timing of the dinner can vary, but it usually happens shortly after the deal closes.
Deal Toys: These are small trophies or mementos created to commemorate the transaction. The junior team is often responsible for coordinating the creation of these. They are distributed to everyone involved in the deal, from junior bankers to senior management. The process of designing and ordering deal toys can take some time, so you might not receive yours immediately after the deal closes.
If you're at an EB, it's likely you'll get both the closing dinner and a deal toy, as these are common traditions in the industry. However, the specifics can vary depending on the firm and the deal.
Sources: What's happening during live deals?, Advice for New Analysts Seeking PE Exits, Life in Acquisitions (Analyst/Associate), A Day in Life of My Sell-side Days, How do all the smaller GPs handle the funding to closing process?
In ~8 years on the legal side, I've been invited to a grand total of 2 closing dinners and received 0 deal toys. Folks just don't do them much these days.
It’s only for the bankers and sponsors typically, both the dinner and the deal toy
You’ll have to organise the dinner. Someone senior will ask you to do it. Pick a place, seating arrangement, etc. Then you’ll have to design a deal toy. Ask the sponsor if they like it and how many they want. Then you’ll have them produced. A few weeks later they’ll arrive. You’ll take them to the dinner and hand them out and take one for yourself. That’s pretty much it
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