I’m currently struggling to break into M&A investment banking roles in the UK market. My background includes several years in private equity plus a partnership role at a boutique debt advisory company. Unfortunately, my recent firm went through liquidation due to new ownership changes, so I’m back in the job market.
I really want to make the jump to M&A IB since there’s good overlap with my previous experience. I’ve worked alongside M&A teams on both buy-side and sell-side transactions, so I understand the workflow pretty well.
The challenge is that after 2 months of applications, I’m not getting much response. Most applications just sit in “under review” status or I get generic rejection emails. I’ve tried reaching out to hiring managers on LinkedIn, but they usually just accept my connection without responding to my messages.
I do have some industry meetings lined up with former colleagues who know my work, which gives me some hope. But I’m wondering what else I should be doing differently. It’s pretty frustrating because I think my experience should translate well to IB roles. Has anyone else made a similar career switch? What worked for you?
Time your applications around bonus season - that’s when M&A teams lose people and scramble for replacements. Your PE background gives you valuation skills most IB analysts don’t have, but sell it as immediate value, not another person who needs training. Push your debt advisory experience hard - most M&A bankers can’t handle complex financing structures. UK M&A deals are down 30% this year, so competition’s brutal. Hit up European offices of US banks expanding in London - they need experienced people fast. Those industry meetings you’re having? Pure gold. Ask about upcoming mandates where your PE perspective could help them win pitches.
Been there myself about 3 years ago, though I came from corporate dev instead of PE. What worked for me was getting super specific in cover letters about deals I’d done that matched each bank’s recent transactions. Generic apps are useless in M&A.
Don’t skip the smaller advisory shops either - they’ll actually talk to you about your background and can be stepping stones to BB roles later. Market’s been choppy lately, so your timing might just suck. Those industry meetings you mentioned sound promising though!
Your PE background is perfect for M&A! Two months feels forever but that’s just how it is right now. Keep hitting up those industry contacts - that’s your best shot at getting in. Don’t lose confidence!
You’re actually in a good spot for this transition - having worked both sides of deals is huge. The struggle you’re having isn’t about your qualifications, it’s just the market being brutal right now. UK M&A hiring has gotten super picky. Banks want cultural fit as much as technical skills these days. I’d target regional offices at big banks or solid independent advisory shops. They love experienced people who can hit the ground running without months of training. Your debt background is actually a major plus - most M&A teams don’t have that structuring expertise. For applications, don’t just list transactions. Show them you can bring in revenue and manage client relationships. Banks care way more about deal origination than execution now. Those industry meetings you mentioned? That’s your best bet. Internal referrals beat cold applications every time in this market.
hate to break it to ya, but moving from PE to IB is like going from the penthouse to the basement. most folks are trying to escape IB, not dive into it. banks are probably seeing you as some kind of desperate job-hopper. and that liquidation stuff on your CV? yeah, risk-averse HR ain’t loving that. maybe try explaining why you actually wanna downgrade instead of tossing around the whole ‘good overlap’ line - sounds way too corporate for me.
your cv probably needs work - that boutique liquidation is likely scaring people off, even though it wasn’t ur fault. try calling it ‘strategic restructuring’ or something that doesn’t sound like a disaster. two months isn’t long in this market anyway, and post-covid hiring is still messed up. recruiters might be worth a shot since they’ve got direct connections.