How would you categorize this experience?
I’ve been working in IB for over a year now and my experience has been what I’m assuming atypical. Most of my time has been spent working very in depth with one company under what has been tagged “strategic advisory” (includes deep dives into monthly KPIs and financials, partnership engagements including introductions modeling structure and on going relationship management. We are also their advisors on capital raises and any corporate finance related items.
I have had a handful of staffing related to m&a processes but never taken one through closing. I know that is typically the exposure people go for when trying to make the switch to PE. I understand why people search it out for PE recruiting, but from my experience there is nothing in M&A that is really challenging or intellectually hard. The only worry I have is the volume side of it where if I were not on this specific strategic advisory staffing, I would have had more exposure to different companies. The other item would be seeing negotiations and seeing why certain firms win assets and others don’t based on the bids they submit / how they present.
At times I have felt like I may be falling behind by not getting the volume of m&a reps, but the other side of it I ping pong back to is that it is not challenging to make ebitda adjustments - but it is more challenging to properly identify growth levers or operational efficiency levers.
I am also not hellbent on catering my experience to PE. I’ve tried to be where my feet are for my time in banking and make the most of it. If the end goal is to move into ownership (PE GE VC etc), does this alternative experience put me at a disadvantage. Not looking for any reassurance here just honest feedback.