I’ve heard deal experience is the number one thing for PE recruiting, but I’ve also read that lots of analysts don’t get much deal experience due to bad dealflow or unlucky staffing. Can people share their experiences with this? Is it common not to close any deals in your two years? I feel like that would suck
| +172 | The "Not So Obvious" things that get you a return offer? | 20 | 9h | |
| +105 | Is my life over after not getting GS? | 27 | 11m | |
| +68 | Best IB group on the Street | 31 | 1s | |
| +56 | BIG FOUR ARE PARADISE | 15 | 11h | |
| +49 | Thoughts and tips on how to speak like an investment banker. | 25 | 11h | |
| +48 | Tell me one good reason why Jefferies isn’t going to be a top bank in the next 5 years | 23 | 3h | |
| +36 | UBS Outlook | 28 | 1d | |
| +34 | How to deal with egotistical team? | 6 | 3d | |
| +33 | Highest Paid Bankers in Toronto? | 51 | 9h | |
| +26 | Got RBC offer but I have cold feet accepting. | 33 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I don't think I was that lucky with my staffings -- I was staffed on ~5 deals during my 2 years, but one of them died, I was brought in near the end for a couple of them (these deals had already been in process before I hit the desk), and one was really small (so it was a quick and simple process without much work). So I think I really only got to see one deal from start to finish as the main analyst staffed on the project, which I guess is not that impressive. But I don't think this is that uncommon, deal processes can drag out and if you're only there for two years, you might not get to see a lot of deals in their entirety.
For PE, I think it depends on when you decide to recruit. If you do on-cycle, it'll be so early in the year that deal experience won't play that big of a factor. However, if you decide to recruit later, it will definitely matter more. But that's not to say you need to have closed deals to recruit successfully -- you can gain good experience and learn a lot even if you don't end up closing.
That's really helpful. Thanks, dude. Would be cool to hear from other current people in PE, too.
Bump
Deal experience is different from closed transactions. You need the former, not the latter, for PE recruiting. If you're not getting deal experience at your bank, there are bigger problems.
To answer the question, I closed 11 deals (around $110bn in transaction volume). Worth the caveat that I was an Analyst when M&A was very hot and was involved in a few whales.
Wow this is top-tier. BB or EB? 2 years?
BB M&A, 2 years. Bank I was at leaves most of the client service work to the coverage teams, so the M&A group mostly works on live deals exclusively with a bit of pitching here and there. I ended up getting involved with some very large transactions, and you always had 4-5 deals you were working on concurrently.
Thanks for the input.
2 M&A deals but we didn't do much M&A modeling. My firm is also pretty not known so don't' know how releveant they will be for PE. I'm sure a lot of analysts esp first years are getting screwed because of COVID and won't have any deals closed to talk about because they died or are stalled
People call you a troll, but I appreciate you when you contribute, Richard. :D
Minus est nihil sit voluptates maiores dicta dignissimos. Et quia enim culpa voluptate. Ex ratione enim aut. Et libero quos rerum temporibus consectetur omnis quisquam.
Sequi repellendus vitae nostrum. A veniam odit unde culpa. Corrupti quia vitae dignissimos et libero quisquam. Saepe fuga dolor qui mollitia. At blanditiis magnam magnam. Dolor maiores voluptatem veritatis et autem ea non.
Vel nihil culpa officia. Voluptatem animi est deserunt odit dicta dolorum. Optio et sed earum quis nihil corrupti. Alias quo laborum omnis molestiae doloremque amet rerum.
Harum voluptatibus atque molestiae quos consequatur quo repellat consequatur. Rem alias sit iusto hic cum eum soluta enim. Suscipit minima doloremque reprehenderit aut.
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...