Sick of IB - where do I go next?
Context:
I work in a European Bank well known in the cap markets space, but pretty sucky in M&A, though still revenue generating.
I spent my Analyst years in ECM before spending the last 8 months in a sector team focusing on M&A deals.
These long hours are quickly getting old and I have no idea what jobs would even consider me with my skillset.
Do I ride it out until I have 12-24 months of sector experience? What options do I have?
I'd need a little more context to offer advice I can stand behind and would like to do a deeper dive on your core competencies and skills, as well as what you want from your next job. What sector/horizontal? What's the prestige of the bank like? Does prestige matter moving forward? Long-term goals beyond WLB?
Regarding the 12-24 months of sector experience: I think this really depends how much you've picked up, what your staffing has looked like and how demonstrable your experience is. I would need to know a bit more info, sorry.
If you want to have a deeper conversation about all of this, consider booking me as a mentor and I'd be happy to help. I've helped a lot of people transition out from and into IB.
This guy been shameless plugging his mentor thing all over WSO but I respect the hustle
It’s just some guy using AI
Behoof
Based on the most helpful WSO content, transitioning from Investment Banking (IB) to a new career path can be both an exciting and daunting prospect. Given your experience in ECM and recent shift to a sector team focusing on M&A deals, you've built a valuable skill set that can be attractive to a variety of roles outside of traditional IB. Here are some options you might consider:
Private Equity (PE): With your experience in ECM and M&A, you have a solid foundation for a role in PE. PE firms value candidates with a strong understanding of deal structures, financial modeling, and sector-specific knowledge. Your M&A experience, even if it's just for 8 months, can be particularly appealing as it demonstrates your ability to evaluate companies and understand the intricacies of deals.
Corporate Development: This role involves working within a corporation to identify and execute mergers, acquisitions, divestitures, and strategic partnerships. Your background in M&A would be directly applicable here, and the hours are typically more manageable than in IB.
Venture Capital (VC): If you're interested in the startup ecosystem and emerging technologies, VC could be a fascinating path. Your financial analysis skills and experience in evaluating companies can be a great asset. VC roles may require networking and a passion for the startup world, but your analytical skills will be highly valued.
Strategy Consulting: Consulting firms often look for individuals with strong analytical and strategic thinking skills. Your experience in ECM and M&A could be beneficial in advising clients on financial strategies, growth opportunities, and operational improvements.
FinTech: Given the rapid growth of the FinTech sector, your financial services background could be highly desirable. Roles in strategy, operations, or even business development within FinTech companies could be a good fit, leveraging your understanding of financial markets and products.
Before making a move, consider what aspects of your current role you enjoy and what you're looking to gain from a new position. Networking with professionals in your areas of interest and possibly exploring an MBA or other relevant qualifications could also enhance your transition prospects.
Remember, the skills you've developed in IB, such as financial modeling, deal execution, and sector analysis, are highly transferable and valued across many industries. It's about framing your experience in a way that aligns with the roles you're targeting.
Sources: Advice From an Advisor to Senior Wall Streeters, Lesser known MBA career options? Looking for advice on what to do post-HBS., Tech As An Alternative to Finance, Associate 1 at no-name boutique. How screwed am I for lateralling in the current environment?, What is that Analyst skill set everyone is talking about exactly?
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