should i recruit for both EB and BB or focus on one?
Right now, I'm debating whether I should recruit for both EB's and BB's or only BB's.
The problem is time and that EB interviews are much harder--I've been preparing the basic technicals (Accounting, Enterprise Value, DCF) but don't know whether I'd be able to go into depth on merger model/lbo. In addition, I don't know if it's worth it to spread myself to thin networking at both EB's and BB's. What do you guys think and what were your experiences recruiting for both or focusing on one?
All of the above
As someone who went through the recruiting process, I didn't think EB interviews were that much harder than BB interviews. Just a caveat that I ended up signing with an EB earlier on in the process so didn't interview with many BBs, but my hardest technical interviews actually came from some MM regional offices that were throwing out some paper LBOs / accretion dilution stuff during first rounds lmao.
The approach that most of my friends and I took when networking was targeting EBs first, then focusing on BBs later as they have later processes. Because EBs are pretty lean, it usually only took 1-2 strong connections with the office to be pulled into interviews, and none of us really felt like we were spreading ourselves too thin when networking. I think you'd put yourself at a disadvantage by not recruiting at both types of banks just because of the fear of not being technically strong enough. When going through the processes I thought some of my EB interviews were hard as balls, but looking back you really just need to really understand the concepts rather than memorizing the 400q guide which will be a lot more helpful when you hit the desk as well.
Wouldn't make sense for you to apply to just BBs and none of the EBs or vice versa. Tough out the technicals and keep shooting.
During the GFC, we recruited with BB, EB, MM, regional, big 4, not big 4, even RBC Capital Markets, etc. Times have changed.
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