Hot take for someone in IB?
Hi all,
I think this is a hot take compared to a vast majority of people in IB / higher finance but wanted to see if anyone else feels the same. I work in a coverage group at a BB (finishing up my first year). Prior to joining, I worked in corp finance at a F100 (blue chip) tech company.
So my take: I weirdly love the coverage and outreach aspect of it but don’t really care for the modeling / quant analysis. Sure, I want to be able to build and fully understand a model if needed but I have no desire whatsoever to be incessantly create DCFs / LBOs or spread comps for the next few years. I’ve already taken on leading outreach for a certain vertical and have been helping our VP on all fronts with that to become an expert in the space.
It came as slightly surprising to me given my background but I’m curious if anyone else has had this sentiment and what exit they took?
Bump
Why you looking for an exit? Looks like you are one of the few built for upper level IB. Just spend free time building lists of prospective clients, drafting up emails, then giving to your superior to sign off on. They will be impressed and eventually you will be able to start doing on your own and making cold calls yourself. On calls with clients, just always have your camera on, join early and make small talk and joke a little with clients to build relationships. Jump in with questions or next steps and your superior will get the message. If they ask you to do a model but you were planning on your own client outreach, tell them "I was hoping to do xyx to potentially win some clients. Any chance I can do this and another analyst get staffed on the financial aspect? If others are busy I am happy to take over but just figured I'd ask in case."
If you don't wanna do IB, wealth managers, investor relations, and client side of asset managers (really just talking to pension fund and endowment heads to give you their capital) all are client oriented.
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