what’s your take on joining a leveraged finance group at a BB right now? Is it still worth it or is it too risky?
where are you in your career path? SA? full-time? # years work exp? where are you now? knowing absolutely nothing about you, the best i can give is a near-nothing answer
trying to do a lateral, FT. currently an IB analyst at a boutique (generalist group). going to 3rd year. have some good experience in modelling (LBO) and transactions. the thing that i worry about is with the credit crunch and the supposedly slower M&A deal flow in 2008 the position isn’t secure and may be slashed in 2008. i plan on eventually moving to the buyside (pe/hf) so i was wondering if this is a good step up from where i am at right now. sorry, didn’t mean to not give more specifics.
if you’re at a decent shop i think you’re best off going straight to buy-side recruiting if you’re going to make any moves (assuming this is what you want to do)…things will kick off in the springtime and if you have a good shot at that, why not go for it? i mean is there something you’re really hoping to gain in terms of modeling or deal experience that you can’t get at your current bank? because ultimately, unless you decide you want to be a banker for life, it’s not clear that doing your last year at BB will help you that meaningfully with buy-side recruiting… anyway, that’s my opinion. i’m pretty much on the fence on this one. what have others told you/
thanks numi. other people have told me that it’d be easier to get into a good (larger) PE if I go to the BB for leveraged finance first (it’s a safer step, better brand name on the resume, learn how to structure debt). I have another job offer in principal investments (not BB though). Thanks for the thought of what’s the extra modeling / deal experience going to do for me if I don’t want to be a banker for life. Basically the only thing that I would gain from going to the BB levfin job is to learn how to model for the debt side (i know it’s the same tools - FCF, comps, ratios, LBOs…etc) but they put a heavier emphasis on credit. personally i am more for equity investments (thus PIA) then packaging debt and selling it to others so they can get rich with the LBO assuming that it ends nicely. the only thing that i would miss or regret is not having the BB brand (top in industry) on my resume and if the PIA at the non-BB blows up due to poor investments. happy to hear your thouhts.