Titles says it all Want wanted to know what options I may have And the fund doesn’t have HC to VP - is it hard to recruit laterally / after mba?
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Plenty of people don’t have closed deals, but you need to be able to speak intelligently about what you learned on the ones you got far on. You won’t have all the context that comes with getting a deal closed but find some time to familiarize yourself with the closing process, documents, logistics, etc. for other deals your fund has closed that you may not have worked on.
For example, skim through some funds flows and compare them to the language in the purchase agreement, review a working capital adjustment in detail (and look at earlier versions to see what the negotiation looked like), review purchase agreement redlines to see what changed vs. the initial form, review how management incentive plans were structured, compare term sheets and commitment letters from different lenders, take a look at post closing checklists, 100 day plans, inaugural board meeting decks, etc.
Thank you - this is very helpful!!
In the investment banking industry, success is often measured by the number and size of deals that a banker is able to close. However, it is important to remember that deal flow can be unpredictable and can be affected by a variety of factors that are outside of a banker's control, such as market conditions, competition, and regulatory changes.
If you didn't close any deals due to bad luck or other factors, it is possible to make progress in your career, but it will likely depend on the specific circumstances. A key factor will be how you respond to the situation and how you demonstrate your skills and abilities to your superiors.
One important thing you could do is to focus on building relationships with clients and colleagues. Investment banking is a relationship-driven business and building a strong network can help you to secure future deals, as well as provide other opportunities for career advancement.
Additionally, focusing on developing your technical and analytical skills can be very helpful. This could include honing your financial modeling skills, becoming proficient in Excel, or gaining a better understanding of the industries you are working in. Having the ability to understand complex business cases and deals can be very valuable for your career progression.
Another point is to be proactive and demonstrate initiative by taking leadership on projects, being proactive in identifying potential opportunities, and consistently exceeding expectations in your role. These are all important qualities for success in the investment banking industry, and can help to demonstrate your potential to advance even if you haven't closed any deals.
It's also important to maintain a positive attitude and stay motivated, as these traits are valued by employers. And you can also look for opportunities to learn and develop your skills, whether it be through internal training programs or attending external workshops or conferences.
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