Trying to lateral from corp dev to IB. Obviously hiring market isn't hot right now, but still want to start effectively networking with bankers in the area.
The trouble is our practice has little to no contact with IB. We source our deals organically and (typically) avoid bank-led processes. For this reason I work with very few bankers and have found it difficult to network in the industry.
Any suggestions on how to network better more effectively?
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I think you need to take a more proactive approach, along the lines of when you were looking for internships and your first FT job. I would go through your personal rolodex and start with all friends in IB. Assumedly, you tried this already. Next, target folks from your alma matter or from places you have previously worked. I would also broaden the scope by targeting the banks that do operate in your space. Work in Medtech? Focus on the banks that offer those services. Finally, cast a broader net through reaching out to a bunch of the MM / BB banks. I am still getting emails (admittedly much less now) from IBs of varying sizes each week looking for lateral hires. Not doing banker led deals hurts a bit, but so long as you are owning the modeling and involved in presenting synergy analysis / competitive analysis-type work, I think banks will see your value.
Which banks if you don't mind sharing? From HHs right?
Unfortunately they typically dont tell me outright, they just say something along the lines of "a top 3 BB" or a "well respected MM with 20+ offices in the US".
Sometimes the smaller firms will name drop. For example, received an email from Mesirow and Alantra (hadnt heard of them before) about a month ago.
By location, NYC, SF, Chicago, Atlanta, LA are where the majority of IBs have openings. Tons of PE opportunities in SF, looks like everyone is getting out of there.
Wish I could be more helpful
Not at all, super helpful and thoughtful answer, thank you. Is this like Pinpoint or SJ, or legit HHs?
SF part I get haha, I live there
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