Coverage (TMT) vs M&A? Match me?
Heading to M7 this Fall with the goal of pursuing IB. I know it's probably too early to think about this but recruiting is fast and furious as soon as you arrive to campus. I know general advice is to cast a wide net, but I also want to be strategic in finding a right match. Below are some options (in no particular order) that I think I'll be a good fit for, but looking for advice from those more experienced.
Options: (1) BB Coverage TMT | (2) BB M&A | (3) EB
All likely NYC but would consider SF also
About me:
- Currently TMT Corp Dev Manager with good deal flow (both sellside / buyside work); I do not have IB experience (nontraditional path)
- I prefer execution focused work (ie live deals) and hate the fluffy "corporate strategic planning" or whatever; said another way, I hate landscape/screening type work and would prefer that someone came to me with an idea that I can evaluate (ie not a good idea because does not fit xyz strategy, financials are shit, etc)
- Valuation / Modeling work, negotiations / structuring >>>>>>>>>> DD tracking work
- The worst part of my job is listening to IBs pitch the same 5 ideas over and over and over. I think it's boring, uninteresting, and a huge waste of time. No one's actually telling us what we don't already know. Whenever our group debriefs internally it's always like "Yup, nothing new here."
- The best part of working with IBs as a client is having access to the full team of analysts / associates who can run models (built off of my operating model) + scenarios + ppt decks that management team presents to C-suite; I am typically in charge of the engagement with minimal oversight from the Head of CD
- I would prefer a group where I am staffed with competent analysts and lesser-hardo-VPs. I'm cool working the hours, but to the extent possible, I would like to minimize (not eliminate bc that's impossible lol) BS work that goes nowhere; I am actually dreading working on CIMs
- Easier said than done but I'm planning to stay at least until VP. Most realistic exit -> CD. I would like a chance at PE, to the extent that I don't take a massive title/comp hit with the jump (and if I can even get a look)
- I like prestige and making as much money during my time in IB
you don't seem like a cool guy to be totally honest
You should stay at your current job
Average mba associate
Average 1Y DCM analyst? Is that even banking?
Wow, what a pathetic reply. You’re a loser, and I pray for the group that may have the misfortune of working with you.
Stay in your lane, we don't need more people like you in IB.
Just from this post I already don't like you. Can't imagine actually having a networking call with you.
This has to be a troll.
You seem to have already written off 95+% of the jog and claim to hate it. Why do you want to do IB?
Is this a real post? Please do not enter IB. While there are still many like you, it’s been dwindling over time.
On a serious note, please choose a different path. Maybe consulting? Whenever I run across hardos like you I see to it that you’re spreading comps and arranging logos while the analysts are writing strategic rationale and other less brainless tasks.
So you basically want to larp while you're at work because you'd be delegating all the actual work to analysts, got it.
Please stay where you are.
Is this in reference to my post?
Na he is talking about the guy that posted this
This is a funny post.
Why are you leaving? You highlight the aspects of the job that you like are the ones you already have, and the only incremental thing I can see you highlighting in IB is money and prestige. It reads as "I want the IB money with none of the shitty parts of IB that merits the money". Even your most likely exit opp is back to corp dev.
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