帮助!MD is asking me to come with him

你好WSO社区- greatly appreciate some thoughts on my situation. My MD has asked me to leave with him to start his own firm. What's everyone's thoughts?

英航ckground: I'm a second year analyst at a specialty boutique. Did my first year at anEB,然后转移以获得更多的WLB。目前,热爱我在精品店里的角色 - 不是试图吹牛,而是被视为顶级分析师,所有医学博士的首选分析师都告诉我,我正在成为该公司最年轻的高级银行家的轨道,我真的像其他分析师/员工一样,所有这些分析师都受到了所有人的尊重,尽管在精品店工作,但仍打算以市场速度获得补偿。每周只能工作60-70小时,有时甚至有80-90个小时的时间。我被提升时只会下降。

关于我的MD-他是我工作的最好的银行家。他是前律师,在BB, so he's extremely knowledgeable and has great experience. I have very strong personal connection with him, and he tells me numerous times in confidence that I'm his favorite analyst. He's definitely my favorite banker to work for- very firm but fair mindset. I've learned the most from him and he'd back me no matter what.

医学博士离开的原因 - 他被赔偿。我的精品店的结构化方式是合作伙伴无论如何获得了50%的收益。医学博士不是合作伙伴,也不会很长时间。他厌倦了成为该公司的造雨者(每年约15毫米),并且没有足够大的削减(只带回家〜1-2毫米)。他也不太喜欢其他MD,因为他认为它们太柔软了。他想离开并创办自己的公司,薪酬结构更加严重地归功于交易成功费(即,初级银行家将获得成功费用的百分比,而不是预定的奖金)。

My concerns- joining a startup bank. I feel like I may not earn a competitive salary for a few years, which I'm more of a conservative budgeter in nature. Also- I'm not sure how the hours will shake out. Obviously, we'll be pitching a lot, so hours will most likely ramp up. Last, being as a senior analyst / associate, I'm not sure how much support I'll get from junior analysts, if any. I'm guessing we'd bring on more personnel (an analyst), but I feel like I'd be playing both roles.

我的机会——乔在在g a startup bank. I've heard it's always good to take a risk or two in your career (obviously when your young rather than old). I'm only 24, so I have a lot of time left in my career. I'll learn so much working more directly under my MD- much more than working at the boutique. We haven't talked about equity comp, but I'm sure that'd be part of the deal.

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评论 (59)

  • 前景IB-M&A
Nov 4, 2021 - 12:34pm

Sorry, this is not beneficial to your question, but as an incomingIB分析师是谁紧张的AF/Pertrified,您能否分享您成为老公司最佳分析师的技巧/经验?好像你做对了。谢啦。

有争议的
  • 前景IB-M&A
2021年11月4日至下午1:00

在办公室里艰难的一天?放松芽,这是一个在线四人页面大声笑,你在输入“闭合猫”后感觉像野兽一样

2021年11月4日 - 12:40 pm

Please don't derail his thread.

刚刚我的贸易争端施瓦布拒绝了loss of 35k. This single issue alone should be a gigantic red flag to anyone who trades on their platform.

If they have a system error, and you do not video record your trading (they actually said this), they will not honour their fuck up. Switching everything away from them. Fuck this company.

  • 4
最有帮助的
  • 分析师2IB-M&A
2021年11月4日-1:36 pm

Not really the point of this thread, but I'll help you anyway. Fundamentally, your job is to add value to your MD and make his/her life easier. This can be done dozens of ways, but you need to apply this concept to every aspect of your job if you want to be a top bucket performer. But don't be a kiss ass- nobody likes one of those, there's a fine line. If you're a value contractor to your MD/higher ups, you're useless to the firm. I'll list a few below to help you out that I've learned being top bucket at anEB/精品店:

- 在每个呼叫上进行详细的结构化笔记(用动作项目分解)。没有例外。

- ALWAYS print your decks out and go through them with no distractions.

- 要对您的电子邮件非常关注,但请始终确保您正在回答电子邮件的所有部分。我已经得到了买家,客户高管等的几个补充。我整夜都有多大的关注(如果您的客户在凌晨2点进行勤奋工作,那么您也应该如此)。如果我想在晚上11点之前上床睡觉,我每天晚上都会设置手机的铃声来做到这一点。

- Know how to model inside out, even if it's the associate's role to model. We all have downtime no matter where you work, in this time build models from scratch, learn如何LBO等等。经验丰富的建模者是罕见的商品IBsince the majority go toPE。You'll become insanely efficient at a model if you do this as well.

- 了解债务(更适用于行业组)。您应该知道客户行业中的典型杠杆水平,哪些典型盟约是等等。金融市场在很大程度上受债务的影响,重要的是要了解这一点。经常被忽视,尤其是在分析师角色中。提取您的公共信用协议compand read the terms. Even thoughpes将进行债务建模,学习如何进行债务契约/产能分析。您将对团队非常有价值。

- IMO-玩政治游戏。我知道这是有争议的,但我总是做政治。不过,有一条细线,您仍然必须尊重其他分析师,并且不想破坏与同龄人的关系。

- Use the quick access toolbar to create your own shortcuts (even for your outlook). This can cut down on your keystrokes. No exceptions, you should be hands-free in excel. I'm ~85% hands free in powerpoint, only because it'll be faster to use your mouse for some tasks in powerpoint. The others, you should create your own shortcuts.

- 尝试成为每个人的“首选分析师”,甚至是其他分析师。这采取了在许多主题,项目,模型等方面知识渊博的形式。

- Read and try your best to understand legal docs (stock purchase agreements, commitment letters, etc.). You'll be more responsible for these aspects of the job the higher up you get, so better practice understanding terms now

- Manage your expectations on workload. Treat everyday like you'll be leaving the office at 11pm at the earliest. Every hour before that makes you feel better. Nobody said being an analyst would be easy- you need to have the "survivalist" mentality for 2-3 years.

- For health purposes- eat healthy (salads for lunch, non-carb heavy dinners), exercise everyday (even if its just running a 7 minute mile), prioritize sleep whenever you can.

- For your life- save as much money as you can to give you optionality if you ever want to leaveIB。我最大401k(我相信$ 19.5k),做一个后门罗斯(我相信$ 6K),$10K紧急节省帐户,将其余的资金用于您的储蓄/经纪帐户。您的奖金很大一部分应该用于您的储蓄/经纪。

遵循这些步骤,以及通常是“得到它”的人。显然,还有一位出色的分析师,但是这些都是我脑海中的所有动作。希望这会有所帮助。

354manbetx

高级投资银行和私募股权基金的精英从业人员教授的6个建模课程的300多个视频课程 - Excel建模 - 财务报表建模 - 并购建模 - LBO建模 - DCF - DCF和估值建模 - 所有这些都包括 + 2巨额奖金。

354manbetx
  • 前景IB-M&A
2021年11月4日至下午1:58

非常感谢您的失败,非常感谢您抽出宝贵的时间为我写这篇文章。非常感谢男人。抱歉,我知道这不是您的帖子的意义,我不打算劫持,但我真的很感激。

2021年11月5日至11:32 AM

也许这里是一个热门,但是所有这些都是OD,可能会破坏您的生活 /造成快速倦怠。一旦我躺在床上(即一两个小时没有任何工作),我有0%的机会在午夜回到一些胡说八道的客户电子邮件中。大多数(除了明显的笔记和打印甲板之类的显而易见的东西之外)是不值得的,因为除非您在WLB更好的WLB商店工作,否做)。

节约每一分钱也他妈的愚蠢,国际海事组织。英航nking is a shit job and you already don't have time to spend money. Penny pinching is pointless (esp. with back-weighted bonus comp structure and rapid comp scaling) - don't blow your paychecks on dumb shit, but trying to save every dollar you can will make you hate your life even more than you already do.

Nov 4, 2021 - 12:44pm

一个重要的问题是,您对MD引入业务和经营公司的能力有多信心。我有一个问题是,如果合作伙伴真的像您所说的那样是一个造雨者,为什么合作伙伴不愿意给他一个更大的切片 - 他们愿意让他走路吗?如果是这样,他甚至没有尝试进行谈判,那可能不是一个很棒的唱歌,或者他们可能只是白痴。只是我的两分钱。

Array

  • 1
2021年11月4日 - 12:46 pm

I can speak to spinning off with a rainmaker but not in anIB设置。我收到它会更浅色印花布玩得团团转ns learned than anything.

1)以书面形式获取一切。词实际上没有意思。
2) Do the cost/benefit analysis, and show him what you're leaving behind. This can't just be assumed he'll understand. Then make the numbers make sense for upside considering the risk. Clarity on both sides is key, for compensation, hours worked, expected duties, new headcount, etc. It should feel like an open conversation you'd have with your friend.
3)这与忠诚无关。这不是关于他讨人喜欢的。这是为了做对您的职业有意义的事情。清晰的眼睛进入。
4)真的,真的,真正地评估了这个人的性格。

刚刚我的贸易争端施瓦布拒绝了loss of 35k. This single issue alone should be a gigantic red flag to anyone who trades on their platform.

If they have a system error, and you do not video record your trading (they actually said this), they will not honour their fuck up. Switching everything away from them. Fuck this company.

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  • Associate 1CorpDev
2021年11月4日至下午1:09

Agreed, especially on the duties part. I've had some friends move into "startup banks" without clearly defined expectations about scope of roles; they ended up taking on a lot of administrative/后台职责on top of their front-office work.

  • VPIB- gen
2021年11月4日至下午1:38

I've made the similar move a couple years back. Here's my 2 cents:

1) You are fairly young in your career. This is the time to take risks. When you're ~30 like me, your risk tolerance becomes much lower in life as you have more responsibilities (ie: mortgage, gf/wife, standard of living, etc). I can go on....but the point is that I can't even travel to some parts of the world because my risk tolerance is much lower.

2)你已经有EB经验很棒。如果其他所有确实失败了,您总是可以依靠自己的强大简历/经验。

3)就像上述人所说的那样,将所有内容都放在纸上并评估人的性格。如果您相信他,请确保您也相信自己。现在是时候打赌自己了,因为如果您不这样做,还有谁会?

4)保持谦虚。偷猎并获得了一位成熟的高年级的信任是非常讨人喜欢的。但是,加入没有基础架构的初创公司将是一项具有挑战性的任务。您将从头开始做所有事情,并设置所有流程。没有工作在你上方。我个人认为这很有意义,因为几年后,即使您决定离开组织,也可以回顾一下自己的成就。

I was in a similar situation during my ASO1 days, and was asked to join a startup advisory practice leaving aBB。我喜欢我的老板并信任他。话虽这么说,我加入时做了所有事情(其中包括所有行政任务),但这更有意义。在4年中,我们已经从3人增长到12人,我们根本没有投球。我们所有的客户都与我们建立了深厚的关系,因此所有客户都回头的业务和口口相传。当我获得一笔交易的一百分点时,Comp非常透明(这是在我加入纸张并多年来增加时建立的);今年,我将以副总裁的价格清理接近1毫米的$ 1毫米。YMMV。祝你好运。

  • 分析师2IB-M&A
Nov 4, 2021 - 1:48pm

这太棒了,感谢您的详细回复。医学博士也有奇妙的关系,所以现在我想到了,我们可能不必像我想象的那样投球。刚开始时,您的工作量增加了多少,尤其是当您掌握了更多的管理任务时?我肯定可以在几年内做一致的70-80,但是我有一个长期的女友,如果我这样做了5年以上,那不会太高兴。

  • VPIB- gen
Nov 4, 2021 - 2:26pm

老实说,最初的时间还不错(〜70小时)。一开始,咕unt的很大一部分是设置模板,即使是公司的IT系统,人员配备预算,市场概述模板,起草协议以及许多运营的东西。第二年,我们还从前BB谁帮助了一吨。话虽如此,创始人甚至将所有利润滴落到执行助理,以确保他们的薪水良好。

4 years later, everything is running smoothly and because we don't pitch, we work considerably less (~50 hours). One thing I hated about my previous experience at aBB是我们所做的所有无用的工作。在我目前的角色中,整个公司的信息/文化是,我们没有做任何不会赚钱的事情。时期。如果客户想为您提供业务,那么他们将不在乎XX图表是否存在……这都是关系驱动的。再次,希望成为公司的早期员工之一,您将能够引导/建立这种“文化”。

Nov 4, 2021 - 1:43pm

Grow a pair of cojones and take the job. This is a once in a lifetime opportunity to strike it big. You play to win the game. Being a conservative worry wart only wins you missionary sex and a Honda minivan with two snot nosed kids.

  • Associate 3IB-M&A
Nov 4, 2021 - 4:06pm

This seems like a good opportunity, but you need to make sure your downside is protected ans this is a strong enough package to justify it.EB- > Boutique->两年内的启动公司都是很多举动,尤其是当您每次降级银行时。

一些小想法 -

- Equity would be non-negotiable for me, especially if you're taking a haircut on comp and playing both analyst/associate. Assuming there's no other partners and you're employee #2, I'd want a decent chunk as well - don't undervalue yourself as "just an analyst" because you will be doing all of the grunt/admin work for the next few years.

- 在上述点上,我1.坚持要搬迁的标题,并且2.需要更加清楚人员结构。如果您要扮演这两个角色,并且被工作猛烈抨击,并且在完成交易之前也没有付费。即使只是每小时为实习生带来实习生,您也需要帮助。另外,会有一些后台/HR/工资类型功能吗?我认为医学博士不会突然把那些

- You're going to need a solid contract - equity, bonuses, comp, etc. Maybe even have a lawyer review it for you.

  • VPIB- gen
Nov 4, 2021 - 4:29pm

I remember setting up ADP for our payroll when we first started and it was such a nightmare. Onboarding was such a pain...

但是回应上述内容,请确保在合同中记录了上升空间。我假设您和医学博士已经进行了公开对话。

  • 前景IB-M&A
Nov 4, 2021 - 4:33pm

我不会做。似乎太冒险了,我不确定专业人士是否可以发起缺点。但那只是我的个人意见。

Anyways, it would be a good idea to actually write a pros and cons list and decide.

  • 分析师1IB-M&A
2021年11月4日 - 10:54 pm

如果他始终每年收入10至15英镑的收入,我认为绝对值得进一步探索。看看他首先提供的内容,但我会尝试从您处理的交易中获得10%的费用,占总费用的2%。当您被提升时,每一个扩展。第一年,您不会赚很多钱,但是从第二年开始,我希望他每年至少要带500万。仅在交易奖金中,这将是50万+,如果他还带来其他收入的人,那么他可能会更多。

您也可能会和他一起去所有的球场,并学习一吨并开始建立网络以最终开始创造业务,这确实是银行业务的最终目标,如果您待在这一职业中。

2021年11月5日 - 8:03 AM

Honestly depends how much you trust him. You're already being exposed to one of the most important lessons in life as it relates to careers. Loyalty to companies is useless. Loyalty to people is limitless. I have friends who run the gamut from banking to big tech, and we are constantly amazed how some of the executives got where they are because they were linked to the key players in the companies. And yes, some of them were not as a competent as you'd expect given their role.

All this sums up to is that if you're up for the heavily increased workload but very much trust this guy, then it sounds like an amazing opportunity.

Nov 5, 2021 - 10:18am

IMO I think you should take the job. MD is putting just as much on the line as you are so as long as everything is in writing I think it'll work out.

On top of that, the way you detailed your work ethic and behavior, you will have no problem landing a job and excelling there as well if it doesn't work out.

That being said (assuming your in NY), I'm an undergrad student right now at NYU and would love to intern at a start-up bank. If you do decide, and are looking for interns to help out, please PM to learn more about me.

无论您决定的一切都祝您好运。

Nov 5, 2021 - 10:28am

I'd suggest you do it but only after getting him to write an offer letter defining the terms. You could also push for an associate title.

  • 1
2021年11月5日至10:42 AM

Your entire upside in this endeavor hinges on his ability to generate consistent fees. That is the entire risk. You need to diligence him and his track record more than anything else here. If this startup advisory shop is successful, it's safe to say your upside will be preserved assuming you've crossed your Ts and dotted your Is. But the outcome here will be very binary -- his success or failure.

Nov 5, 2021 - 5:05pm

If your planning to leave get it writing from your current boss and then go back to your current bank and ask for whatever is required to get you to stay (associate promote, more money, a firm timeline to VP promote, etc.)

提前让他知道,如果您选择的话,您将让当前的雇主对抗。这样一来,您就确切地知道您的两个选择是金钱,职业发展等。

If the new bank you join is not taking off after a few months in you are going to want to be absolutely sure the old firm wouldn't have fast-tracked you to VP and showered you with $$$ if you had elected to stay.

2021年11月5日至下午5:10

只是知道这将是一个bit子... mo/BO功能将fall on your shoulders...every template having to be made again from scratch...business development initiatives...you're looking at 90 hours a week at best and probably more like 120 hours on average for the first year or two. In addition, since you'll be so lean, will you guys even have India/CapIQ/FactSet/Pitchbook/Crunchbase/in-house design/etc access?

  • 分析师2IB-M&A
Nov 5, 2021 - 5:46pm

Good points, I don't think we'd get any india/in-house design support. I'd likely have to have that myself, along with creating new template models.

  • 分析师2IB-M&A
Nov 5, 2021 - 5:35pm

$ 10- $ 15毫米,除非降低雨水MM。If he's launching his own firm and that's all he's bringing in, I would be a little worried. That's the take home pay of some the partners at mine, not the revenue.

老实说,您的医学博士最好为他提供更好的包裹或谈判更好的包裹提供服务。

  • 夏季合​​伙人Consulting
2021年11月5日 - 11:05 pm

以书面形式获得所有内容。做最适合您职业生涯的事情。如果您确实是公司的重要资产,而您的MD试图脱轨,那么您可以随时尝试降落BB/EB再次作为计划B。

  • VPIB- Cov
Nov 6, 2021 - 12:24am

最大的风险是盖伊在接下来的3 - 4年中赚取$ 5毫米/年,因为他的设定相当(相当于当前的10 - 15年,大约是MDS持续多长时间),而您是没有名称的助理3依靠您的简历,人们对雇用并不感到兴奋,而且您还不足以独自生存。这就是为什么人们留在平台上与独立团队或整个团队没有跟随Rainmaker MD到下一家商店的原因。

2021年11月6日 - 1:30 AM

100% agree to some prior comment about how $15MM isn't much for a MD. My group head told me over lunch one day that each MD is expected to bring in at least $35MM in fees a year. For the reference, I'm at a middle tierMM银行。

2021年11月6日至11:19 AM

我在类似的商店精品店工作,这里有一些要考虑IMO的东西

  1. Everyone is scared of not a ton of guaranteed comp but are you willing to bet on your MD and yourself? I get paid a % of deal fees like your proposal and I'll likely smoke the typical analyst comp this year. Just make sure you are honest with your MD about what you want and % of the deal fee. Do the quick math on what you think your typical deal fee would be - how do you feel about that? Some firms might have a management type fee (or w/e you wanna call it) that they rake 20% off the top of something before your calculation comes in. I would clarify him about that too. It is very nice being invested in deals but obviously downsides w the unpredictability.
  1. 您必须真的相信您的医学博士。您认为他会带来什么规模的交易?我可能会打折任何更多的东西。对他来说,提出交易不仅会付款,而且会关闭,而且客户不会是难以销售的妈妈和流行商店,这一点非常重要。为什么?因为在一家初创店工作可能会稍微镜像LMM银行,而您可能正在与一些不老练的客户合作。并不是说那是最糟糕的事情,但可能不是您习惯的
  1. 您的职责可能会比现在更广泛。上下两侧。例如,作为AN2本人,我要做很多事情,以至于大多数分析师永远不会碰到。真是太棒了,您会真正投资于您的交易。实际上,您将触摸交易的各个方面,以至于标题与您无关,您将与您的MD一起工作。但是,您可能会被困在做一些您可能不想再做的事情。这就是为什么要对您的MD雇用谁和多少人设定期望。显然,更多的人也帮助WLB。
  1. 您将与您的旧公司燃烧一座桥梁。不确定您是否在乎,但这可能取决于您的发展方式。
  1. Probably hurts yourPEopps有点,但我敢肯定您已经考虑了所有这些。
  1. Feel like I glossed over comp but tbh I think this decision goes more than that. Just remember you have so much more leverage than you realize. he needs someone to lean on like you. And if the deal isn't sweet enough, you have a great firm to just stay at.

Edit: Only you know the facts to really make the decision but I say fuck it and go. So what if you make VP a few years earlier than normal at your other bank? You'll be acting like a VP in 2 years and could be making more. The other option has a written path, I say go write your own dude.

  • 分析师2IB-M&A
Nov 8, 2021 - 6:40pm

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Corrupti maiores nobis odio voluptas. Mollitia et velit doloribus eius officia vero ut. Quia maxime dolores id eveniet voluptatem consequatur in eligendi. Reprehenderit voluptatem quis dolorum.

  • 分析师2IB-M&A
2021年11月13日 - 12:25 AM

Sint repudiandae aspernatur distinctio molestiae mollitia. Quae quae consequatur expedita rerum rerum et qui ut. Quod perspiciatis enim praesentium tenetur iusto ratione.

Libero Maxime Reactur Rerum。Fugit Itaque Commodi Porro。cupiditate eius amet sunt esse velit eveniet iusto。

Error aut consequatur nam dolores. Explicabo qui odit omnis fugit sequi. Saepe rerum quidem occaecati consequatur. Et tempora incidunt error veritatis unde quidem.

Qui cum doloremque dolorem repellat cumque. Minima debitis qui reiciendis cupiditate corrupti ipsum. Recusandae et quia blanditiis aut aperiam error voluptatem sunt. Voluptates quibusdam porro magni voluptates et nihil consequatur sequi. Et recusandae exercitationem sunt at perferendis eius.

  • 分析师2IB- Cov
Nov 13, 2021 - 7:28pm

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Non quidem magnam velit saepe minus ipsa sit rerum. Accusamus provident aut est accusamus dolor eaque quisquam quam. Tempore aut omnis velit quaerat. Temporibus consequatur eum natus earum.

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