Would I be competitive for lateral IB recruiting?
Currently in DCM group at a large balance sheet bank (non-BB) and looking to lateral to IB Coverage/M&A advisory lateral analyst positions at UMM/BB/EBs. I notice that many of these lateral job descriptions say something along the lines of “1 to 3 years of investment banking experience required”.
Will my experience in capital markets make me competitive for these lateral positions or are these lateral roles primarily looking for people from coverage/M&A groups at other banks?
Most hiring teams will assume you don't have any deal modeling experience, so would probably have to downgrade banks to MM or LMM. You can always apply of course, but there are an abundance of qualified applicants for those roles.
May be better off lateraling internally to M&A or coverage (even if it's a "downgrade" internally, you really need that deal and modeling experience) and moving up from there
Thanks, that’s helpful. By “deal experience”, does DCM/cap markets satisfy that requirement or are they primarily looking for M&A deal experience?
Prob will look externally since my current bank has crappy coverage groups that have zero deal flow (my firm is what people typically a debt shop)
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