No Staffings
Hi all. It’s been about 2 months at UMM firm and I haven’t been staffed on anything. I just help with random internal work but no deals. I did PE and plan to stay on so experience is really important. Is this normal or is there anything I can do outside of sourcing my own deals to help build internal rep / experience?
The market is extremely slow right now, I wouldn’t worry about it. I know it’s anxiety inducing the but enjoy the slow time by working out, reading, seeing friends etc. I’d also recommend asking senior folks to get coffee/lunch so you’re top of mind if/when stuff does come up and you’re building up relationships. I guarantee you’ll be plenty busy very soon.
My worry is in 6 months, things heat up and I have no reps it given it’s been 6 months, people expect me fully ramped
Echo the above. Based on banker calls, there's very little appetite/incentive to go to market in the last quarter or the current quarter (unless a company is running out of runway, etc. that they can't wait a few more months). Though have heard a good number of processes that are expected to kick off in Q1'23+ so expect things to be a little less dead by then.
lol yeah, just like they expected the debt markets to open up post Labor Day. That's going really well...
I will happily switch places with you. Getting worked like a first year IB analyst
I wouldn't source your own deals unless it's common and appreciated at your firm. UMM it's hard for you to actually source.
Any associates you're close with who might let you "shadow" them on a deal? You can offer to take on the text comments and admin stuff just to get involved in a deal team.
That said the market is slow right now, and things only really slow down getting into the holidays so I imagine it will be that way until early next year. People won't expect you to be fully ramped up in 6 months if they know you haven't been doing much.
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