Joining a MM IB like Truist/Stephens/RJ in TMT as 3rd yr analyst and would like to start recruiting for 2023. Do I have any shot at a reputable MM? How should I get interviews? Assuming no HH reach out, how do I get on their radar? If I’m interested in Southeast firms like Roark, Sun Capital, HIG or Middleground, do I have a shot? How do I figure out when they start to recruit? Thanks in advance for your help.
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Yes, you do have a shot for mm. Particularly right now while the market is hot and you’re in TMT. You can network directly both with firms and with HHs. You should get completely ready and then reach out to the headhunters. They’ll keep you abreast of when recruiting starts.
Were you in IB for the first two years? If so it should be pretty easy to recruit and land something.
Should definitely be doable.
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Also in a MM and it's been tough for me to even get interviews at PE shops. MFs won't even look at my resume, and plenty of high-quality MMs are hesitant to extend interviews since there's also a lot of BB/EB people aiming for MMs nowadays.
I have almost no M&A experience and most is IPO deal exp, so I guess that's one of the reasons.
What type of MM are you at? Something more along the lines of Truist/Stephens or Jefferies/Rothschild/WB?
More of a Truist/Stephens type.
Yes you have a shot. I would do a few things 1. See what Headhunters cover the firms you're interested in (look at the recent coverage list on WSO, there are plenty of discussions about this) 2. Cold email/reach out to the Principals or Vice Presidents via LinkedIn. It helps if you have some sort of connection (every one loves a good alma mater connection). From what I've seen, they are usually open to chats (especially if they know their team is recruiting) and would then pass your resume along to the internal recruiter or someone internally (if they don't use an external headhunter).
How to avoid those low-paying, toxic MM shops though? Spoke with a couple of LMM firms, but their offer lower pay and comparable hours to the current banking gig. Carry is unclear since it's for Associate positions.
Do most LMM firms give carry at the senior associate level?
It's rare for a PE shop to offer Sr.Associates carry. Unless they are referring to Sr.Associates as VPs (some shops like PE BX, don't have a VP title, it's Sr.Associate.. in that case they get carry). PE is going to pay lower than IB nowadays on the Associate level so don't hold your breath.
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