What do we actually do as investment bankers?
I started my journey as an M&A analyst at a top boutique firm in my country about six months ago. So far, a significant portion of my work has revolved around research for buy-side mandates—scouring MergerMarket for multiples, creating valuation models (primarily using multiples), drafting memorandums and one-pagers, and so on. To be honest, it feels a bit monotonous. The compensation is decent, but the hours can be grueling.
I’m curious if this is the typical experience for analysts in M&A. Do any of you have more engaging responsibilities that go beyond financial modeling and corporate finance knowledge? All hail the middle market! Just a heads up—don’t pitch for PE unless you’re okay with getting lowballed.
One response
It sounds like you’re navigating the typical first steps as an M&A analyst! The tasks you’re doing—researching buyside mandates, building valuation models, and preparing memorandums—are indeed foundational to the role, especially at the beginning. Many analysts go through a phase of repetitive tasks as they build their skills and become more familiar with the intricacies of deals.
As you gain more experience, you may have opportunities to take on more interesting responsibilities, such as:
Client Interaction: Over time, you might get the chance to participate in meetings with clients or even take part in pitches. Building relationships and understanding client needs can add a lot of depth to your role.
Strategic Analysis: Engaging more with the strategic aspects of M&A can be fulfilling. This could involve evaluating synergies or potential market impacts, thus giving you a broader perspective beyond just the numbers.
Collaboration: Working more closely with senior bankers can expose you to different areas of the deal-making process. Observing how they navigate negotiations or present to clients can also be a great learning experience.
Specialization: As you continue in your position, consider specializing in a certain industry or type of deal. This could lead to more engaging work tailored to your interests.
Learning and Development: Taking advantage of any training opportunities offered by your firm can also help diversify your skill set and make your day-to-day tasks more stimulating.
The hours can definitely be tough, but remember that this is a common journey in investment banking. Many find the initial grind worth it when they move up and start taking on more dynamic projects. Keep pushing through, and don’t hesitate to voice your desire for more engaging work with your mentors or managers—they might have opportunities in mind that align with your interests!