Winning Business as a Junior Banker?
All,
Starting FT in IB upon graduation next summer. I have no interest in PE atm and see myself doing VC long-term but: I want to stay at my bank as long as possible. City, firm, and coverage group I want to be in.
With some extra time on my hands, I'm planting seeds with potential clients within my coverage group (VC's looking for targets, C-Suite looking for roll-ups). Ideally I would pass off these leads to my senior bankers for brownie points, promotion, etc. Obviously I wouldn't do this within my first few months on the desk and would wait until I had adequate rapport with my team.
I'd love to hear people's thoughts on:
- Tips for networking with clients (especially from VP's, MD's)
- Any chance I would receive commission like senior bankers?
- How delusional am I?
Yeah, if you tried to do that your md will shoot it down. Focus on being the best analyst, not an MD
If you want to be considered a rockstar (which if you're saying that all you care about is being a career banker, you should), you should focus on doing your job well and then trying to do the job of the person one level above you. So good analysts function like associates, and good associates function like VPs, etc.
Winning business as a junior just isn't really feasible. Where are your connections? Do you have relationships on the company side (c suite or board) or the buyside (principal)? You need these to not only source business but actually execute deals. Its not really compelling to hear a kid talk about how they can sell your business if its clear that they don't really know anyone who will pick up their phonecalls (no one cares that you can build a great 3fs model).
Keep in mind also that when you pitch, and screw up, there's opportunity cost there. If you tried to set up a one off meeting with some connect you have at a company, and you suck, its going to hurt your firms chance at future business. So, you can understand why your seniors might not love the idea of you pitching and trying to win business on your own (and its not just about comp).
Focus on doing your job well, taking on the next level of responsibility, and building your network. The rest will come
I didn't even consider this -- thanks for the insight.
This is a bad idea for reasons stated by the above post. Do not do this until you're a VP, it's great to be a go-getter but show that in your role. IB is not about reinventing the wheel.
In short total waste of time. Saw a first year try to do this type of stuff once and we were all joking and laughing about it when he wasn't around. Learn to be an analyst first
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