Deal Flow - 1st year analyst
Question for those folks in IBD.
I'm a 1st-yr analyst who started last year. What's the deal flow like these days for you guys? I understand some folks might blame me, but i'm sick and tired of going home too early. Just curious if this is something only I'm experiencing or more of the industry phenomenon ya guys are all facing
Would appreciate any feedback
Are you working at a BB or boutique? Also what group are you in?
Slow as well. People are leaving by 8 or 9 every night. I understand what you mean - most who came to this job wanted an opportunity to learn and work on interesting deals. It sucks when nothing's going on and all you do is update stock graphs and management tables.
It really depends on the industry, geographic location, and types of deals.
But generally, these days a lot of deals are stemming from distressed situations. Plus, lots of strategic investors are reluctant to take the risk because of the tight credit market and the increased uncertainty of their business environments, although these days the situation has improved slightly compared with few months ago. Another factor contributing to slow deal flows is the valuation gap.
I am a Summer Analyst at a BB and, I have also noticed most of the deals coming from distressed situations. Although some groups are slow, the restructuring groups are extremely busy. For example, one of my friends is working for Lazard ( in restructuring) and has not been off work before 12 am yet.
yep... it's really slow!
What I think one can do in times like these is to hone their skills and get really prepared for when the opportunity comes... that's all we can do for now.
Banking by nature is a cyclical industry.
How much in total deal volume do BB IBD analysts work on in their first year? (Originally Posted: 02/15/2015)
I know it can vary widely, but I am just curious about the range of the sum of the values of all the deals that a BB analyst would typically get to work on in their first year.
Bump. Pls help!
There's no answer to this. At a BB the M&A deals are typically 1bn+ enterprise value. So maybe you work on 3 2bn deals (6bn total volume) or you work on the Vodaphone deal and your volume is 130bn.
Thanks for your help Quaneaser!
Heh, I dunno but at least for me the last three months have been all live projects. The two months before that were absolutely dead, so probably just feast/famine for a while. That said, with cuts recently having gone down in our office and 2nd years leaving in a month, I don't think it will ease up much until September.
Anyone know what deal flow is like in the financial institutions space, specifically? I'd imagine the majority of whatever action there is would be in capital raising and distressed securities - is that an accurate assumption? Also, what's the scene in Asian FI's (HK, spec.)? More or less the same?
Dunston, a lot of FIG deal flow is in (semi)distressed M&A, restructuring, and work-outs.
I had about a month of dead time, but still had a decent amount of work to do. Then the last 2 months have been pretty crazy. I'm on 3 live deals right now, 2 where I have a major role and the 3rd where there are really tight deadlines and I just got bolted onto the deal team.
you might want to consider talking with your staffer during a coffee break. Or set aside 15 min to talk with him/her about your progress. That way you can talk about other types of deals or people you're interested in working with. I've done it and people appreciated my initiative enough to give me more work.
BreakingBankers http://chasingconsultantsbreakingbankers.blogspot.com/
A somewhat trival observation, but the bankers with low deal flow are more likley to have time to read/post on WSO than the bankers with strong deal flow, so this thread might be somehwat biased.
Couldn't agree more. Investment grade chaps are busy like there's no tomorrow... which was like what we were a year ago...
old marcus halbestrom, where do you find the time to post on here?
I have extremely bad ADD. Regardless of how busy I may be, I often have to catch myself on FB, WSO, DealBreaker, watching Kate Moss blow rails of coke off of a CD case, Wikipedia random useless facts... like the black kid (Meredith Hunter) who got killed at a rolling stones concert where Jerry Garcia hired Hell's Angels to work security , cruising ebay(eye glass frames, folding bike)... and downloading music.
Probably why I'm pretty good at trivia games. Probably also why I spend endless hours at work. But I guess if it wasn't spent doing useless shit, it'd probably be spent taking on another deal.
Your bank lets you have FB? Nice! My last job they blocked FB and Gmail...
Reprehenderit sed qui vero. Soluta sit iusto quisquam eligendi.
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