Suenne Drees, Lead Consultant, and Izzy Mittag-Lenkheym, Consultant, share their insights on hiring the best talent
M&A talent remains in high demand, but many young professionals, especially those from investment banking, are increasingly moving to other corporate roles, such as consulting, technology and corporate strategy and development.
Professionals are still utilising their financial analysis and deal structuring skills while often enjoying a better work-life balance. As a result, attracting high-calibre talent to roles in the private markets is more competitive than ever.
As this shift in career preferences shrinks the hiring pool, it raises an important question - are you still securing candidates of the same quality and calibre?
Are you structuring your interview process to highlight meaningful competencies, specific to your team and firm? How does your evaluation truly identify a long-lasting and successful hire?
Our key observations
- Candidates in today’s market have less exposure to deal activity, resulting in reduced opportunities to directly 'hold the pen' on the model
- Due to a weaker M&A market in recent years, bankers are focused on more marketing-heavy and pitching roles, which builds a separate skill set
- Due to a lack of applicable live model and deal experience, some candidates feel hesitant to engage with buy-side interview processes earlier on in their career
- Because of strict process timelines and pressure from peers within the bullpen, some candidates engage in processes even when underprepared
- Alternatively, with the exceeding amount of on-campus presentations and firm presence, some candidates are starting to prepare whilst still at university
Technical screening to identify future value-add
The highest correlation to future performance comes from work samples and cognitive ability tests, not only from academic credentials or previous roles. In today’s market, we cannot only rely on what has previously worked. Hiring should now include underlying character competencies as a key part in setting apart candidates, such as the below:
Do your current interviewers screen for these traits? Or are they looking for conventional success markers?
- Proactivity: Does the candidate independently identify work and add value beyond assigned tasks?
- Adaptability: Can they thrive in evolving environments, both internally and externally?
- Financial acumen: Do they think critically, challenge assumptions, and display intellectual curiosity?
Winning talent: rethinking engagement and building for the future
To attract and develop the best talent, it would be beneficial to rethink how you engage with candidates from the start.
- Empower your team with strong interview skills and the ability to represent your brand effectively
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Clarify your hiring priorities by defining your firm’s identity and determining which traits are essential from day one and which skills can be developed over time
- Understanding that bankers may have limited LBO exposure, how do you test technical expertise? Is that a key differentiator, or could it be the ability to build rapport and close deals?
Staying ahead of the curve & shaping future talent
Hiring top talent isn’t just about selection - it’s about engagement, development, and long-term value creation by compiling a high-functioning team.
- Build Rapport: Gain a competitive edge by implementing small gestures, such as coffee chats, to build rapport with candidates - even when they’re not actively interviewing. This helps showcase your firm and culture, ultimately attracting candidates who gravitate toward firms they know and trust when entering a process.
- Process ‘buddy scheme’: Offer each candidate a process ‘buddy’ to help them with best-practice advice and structured guidance throughout the interview process. This will also prompt active communication and continued momentum.
- Onboarding and training post-hire: Revaluate how you can shape talent into what you need and set expectations around onboarding programs from day one.
Is your team set up to hire for success?
Come and talk to us - we are here to build and facilitate a hiring process that attracts, selects and develops for the long-term success of each candidate, and in turn, your team.
Contact Suenne
Contact Izzy