ECM to PE advice?
Hi, I'm a third-year IBD analyst focused on ECM in London.
I've had no luck with buy-side recruiting as once headhunters find out I'm ECM they only suggest Investor Relations roles or Sales roles (Placement Agents) and never put me forward for Private Equity.
I've tried applying for M&A roles at other banks but they reject me on the basis of not having M&A experience unless I'd be willing to come in as an Analyst 1 again which is where I say no (In a few years I'll be 30, I want out of banking and I've already done the 3 year IBD analyst grind I can't redo it all again at another bank) although I'd be happy to start at the bottom as an analyst 1 in PE.
Switching to an M&A team at my bank is also not possible.
I become associate soon and am worried once this happens my buy-side chances will dramatically reduce.
Given I don't want to be a career banker, do I:
A) give up the buy-side dream and just accept my fate and go into Investor Relations or a Sales role like a Placement Agent
B) stay on as an associate and keep trying to recruit for buy-side even tho I've been trying for the past 3 years with no success
C) any suggestions??
Thanks
It would be helpful if you share which bank you’re working at. The obvious and easiest move is to try to move to a coverage team within your own bank. Direct ECM to buyside I’ve really only seen once and that was someone working on tech IPOs who moved to a growth equity shop.
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