Hi, I was wondering if Duff & Phelps M&A/Corp Fin analyst/associate will have a RELATIVELY easy time move into bulge bracket/MM IBD teams? Has anyone here encountered that?
I am mainly interested in moving into a real IBD shop after a stint here at Duff & Phelps.
How is Duff & Phelps as a firm on the street? (is it even considered real IBD?)
Thanks
Maybe MM, forget bulge.
Isn't D&P already an.. MM?
I always viewed them as a valuation firm, that's why I am not so sure about their M&A business and how respected they are, etc.
Valuation is what they're known for but they have a respectable MM M&A practice too. http://dmi.thomsonreuters.com/Content/Files/4Q2015_MandA_MidMarket_FA_R…
It isn't as good as those (flawed) rankings make it seem (for heaven's sake, Generational Equity is always in the Top 5 as a business broker). Look at the number of deals relative to the value and fees. The larger deals they have done as a sole or exclusive advisor tend to be hairy (i.e. Houlihan's) and, in many of cases, D&P serves as a co-advisor, likely specializing in valuation.
I have nothing against D&P and they are probably a solid shop, certainly above many others in the MM. But if you look at CapIQ, MergerMarket, or Pitchbook, you can see they are clearly a step below the better MM groups.
If you don't know what you're talking about then don't reply to OP's question..
Duff's IBD is "real" lol, they call it corporate finance though. I'd say they're a typical middle of the road MM bank. You can somewhat easily lateral to a better MM, definitely could get to a bulge or EB but that would obviously be a bit harder.
If valuation is your thing they do have one of the top valuation practices, so that's always an option.
I am currently in a valuation group in a grant thornton as a senior associate. I have been there for 5 years. I am interviewing with a corporate finance role. (I am hoping to be placed into M&A). I am a bit conflicted because I have a lot of experience already, and the corp fin role they are interviewing me is an analyst role. I feel somewhat unsure. If I'd go into D&P, I am guessing that it would only make sense if I eventually move into bulge bracket? (unsure about this part). So i am mainly trying to see if it's worth moving into D&P if I want to go to a bulge bracket in the future. Although, I feel that time/age is against me on this.
If you've got 5 years of WE, why not go and get an MBA and be an Associate at a BB instead of a 2nd year Analyst? Maybe you'll get promoted early, but why do that to yourself?
trader_timmy is correct.
D&P does have a reputation of being a valuation firm, so make sure to list your position on your resume as "investment banking analyst" and then list transactional experience below that (look at the M&I resume template). Once you begin the lateraling process, you'll quickly see that IB experience is a highly sought after skillset. Lateraling is much easier than FT was in my experience when I lateraled from a boutique to a MM. Take a look at my lateraling guide. Good luck.
@trader_timmy, sorry if I offended you or sounded like I didn't know anything - I actually recently spoke with a few MDs at D&P and an analyst who currently works there. I was about to interview there a few months back, but heard that their IBD practice takes on a very generalist approach (no particular industry expertise) which turned me off slightly. The analyst I spoke with didn't speak highly of his experience either, but that's obviously subjective.
The reason I even heard about D&P was because at my BB I know an analyst that moved from the valuations practice there. He claims it is an MM, which is why I asked my question.
If you felt offended, I would be happy to refrain from posting based on limited information in the future.
My bad I should've hit reply, I was really only referring to the poster above you
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