Buyside as an A2A Promote
I am currently a 3rd year analyst at a top BB (Consumer Retail Coverage), and I haven't been recruiting for buyside positions up until this point. My group has expressed interest in promoting me to an associate, but not sure if this is the path I would like to take in the long term. For a little context, I have received top reviews my last two years and have a fair amount of M&A deal experience. Given the current economic situation, I am grateful for my job, but was curious if anyone had experience or opinions on recruiting as a third year analyst or a recent A2A promote? I assume a lot of opportunities would still be available for a recent A2A promotes. Also, I have little interest in megafunds or anything of that nature, so would likely be targeting less "sexy" names / smaller shops.
Recruited as a 3rd year and left right after the A2A promote - it was a really easy story for me and I could back up that I barely recruited in years 1 and 2 so there wasn't the stigma that I "failed" recruiting previously. Like you, had top bucket reviews which made the transition pretty simple IMO, and I came from a MM, not a top BB like you. There's a decent amount of color in some of the old threads I started, but happy to answer any specific questions you have. I learned a lot in my 3rd year personally and definitely left banking feeling a lot more prepared than if I jumped right after year 2.
Just curious - would you mind expanding on the pros of doing a 3rd year as an analyst as opposed to jumping ship after the 2nd year? 3rd year seems like a good gig from what I understand (get the best projects, better work life balance, good comp), but curious your rationale / why you would or would not recommend it
I had a lot of personal reasons for staying a 3rd year, but if you do a 3rd year you'll have concrete reviews under your belt you can point to in interviews / discussions with headhunters that can set you apart - more certainty / proof you're actually good instead of going just off of pedigree. You can really sell yourself on having 50% more experience than somebody coming out after 2 years, that you've had more responsibility truly managing processes (including both managing up as more of a deal QB and also managing down as you have analysts below you).
Something pretty underrated IMO is that you can better articulate why you want to leave for a certain type of strategy - you're making a more informed decision on the types of deals you've worked on / shops you've interacted w/ and not just jumping "because everyone else is doing it" or "the grass is greener."
Thanks for the perspective. Agree 100%
This is super helpful, appreciate the response.
I agree with everything you said, including the more robust experience staying the third year. The hours aren't too bad generally, which is a bonus as well.
In terms of hit rates with recruiters, were you getting interviews with most funds you would submit to? I feel like my personal hit rate has not been stellar in the last month or so, but maybe just small sample size / virus concerns. Also, if you hadn't found a gig and continued recruiting as an A2A, do you think it would have held you back at all vs. leaving as a third year? From your post, it sounds like not, which is awesome!
This is super helpful, appreciate the response.
I agree with everything you said, including the more robust experience staying the third year. The hours aren't too bad generally, which is a bonus as well.
In terms of hit rates with recruiters, were you getting interviews with most funds you would submit to? I feel like my personal hit rate has not been stellar in the last month or so, but maybe just small sample size / virus concerns. Also, if you hadn't found a gig and continued recruiting as an A2A do you think it would have held you back at all vs. leaving as a third year? From your post, it sounds like not, which is awesome!
Old AMA I did (https://www.wallstreetoasis.com/forums/ama-non-target-3rd-year-analyst-…) and some of my old posts have more detail on this, but in short, I would say I felt I had a pretty good hit rate on getting phone screens at least (maybe like 50% for those I expressed interest in? Honestly not 100% sure anymore).
What I can tell you is I legit did not reach out to HHs until May of my 3rd year (just checked my emails and looks like I blasted outreach emails out on May 1 exactly) and had 2 superdays by early / mid-June, converted both into offers before the end of the month, and started my new role that same August.
I think if I didn't find a gig, I would've been ok as long as I left soonish after (definitely would've been fine
Delectus minima et dolor quasi doloribus autem. Doloribus dolorum ea ipsum magnam. Qui fuga aliquam expedita sequi quidem qui. Provident quia libero velit id. Voluptatem unde sit ullam consequuntur molestiae et voluptas.
Odit incidunt sint excepturi est odit eaque. Ut voluptas accusamus deserunt nisi ex rerum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...