From Analyst to Associate: What does it take?
Eugenia Cabeza has recently been promoted from Analyst to Associate after two years in Albia IMAP – IMAP Spain. We caught up with her to find out what it takes to successfully start a career as an M&A Analyst, and what she’s looking forward to in her new role.
Firstly, for anyone who doesn’t know, what is an M&A Analyst and what type of work do they do?
An analyst is the most junior member of the M&A team. They tend to be recent graduates from leading universities, with perhaps a few years of work experience in a related sector. In an M&A process, they are most involved in the documentation and promotion stages (the first two stages) but also support their senior colleagues in the negotiation and closing stages (the last two stages). As you might expect, a lot of the role is concerned with undertaking in-depth research and analysis to ensure that your colleagues and clients have all the information they need.
Tell us about a typical workday?
There’s quite a range of responsibilities, and an analyst’s work will include any of the following:
- Preparing reports analyzing companies and markets
- Creating financial models and business plans
- Identifying comparable transactions
- Finding and contacting potential target companies
- Negotiating bidding terms
- Coordinating due diligence
- Contributing to the drafting of proposal documents
The work is normally allocated by the partner in charge of the transaction or a senior team member (Director or Manager), and while there may be various tasks, analysts tend to focus on completing one before moving on to the next.
What is it like working as part of the IMAP team?
Our culture is collaborative and close. This means we work as a single team, not just within the departments of Albia IMAP, but also with other partners when needed. I enjoy the daily contact with other team members, we have a great professional and personal relationship which really boosts the quality of our teamwork and makes it a fun place to work.
What do you enjoy most about working in M&A?
The exposure I get to other professionals. Being part of these M&A transactions, I have learnt so much, not just from my senior colleagues managing the transactions, but also from the company owners and leaders. Owners, CEOs, and CFOs have fascinating insights into business and finance, fruit of their years of experience and hard work.
I also value the exposure I get to different sectors. We work with clients in a broad range of industries, and I enjoy the challenge of analyzing each sector and how it contributes to the market as a whole.
I’ve also really enjoyed attending the IMAP Analysts & Associates Meetings and IMAP Conferences I’ve been to so far. These were a chance to connect with colleagues around the world to share experiences and best practices and of course, get to know each other better.
What is the career path in M&A advisory?
There is actually a really clear career path. You start as an Analyst, then move to Associate level, then Manager, followed by Director, and finally Partner. It’s certainly not something which is automatic though. At each level you’re expected to be excellent at your job and show capacity and interest in taking on greater responsibilities. You’re also expected to be a team player from day one.
What advice would you give to someone wanting to start their career as an M&A Analyst?
Work hard! First at University and then in your first job. Even if it isn’t in M&A, seek out and develop the transferable skills that may help you later in M&A, listen and learn from those around you, and stay focused. I worked in auditing in a big four consulting firm before joining Albia IMAP. The experience helped me to become more precise and detail orientated – skills that are vital as an analyst.
How do you think your job will change now that you are an Associate?
Now that I am an associate, I’m able to respond more quickly and effectively. This is connected to how my responsibilities within projects are increasing and soon I hope to manage teams. As an associate, I am also responsible for training and mentoring the firm's junior analysts and new hires, helping them to develop in their roles.
What are you most looking forward to?
I am looking forward to continuing to complete challenges with Albia IMAP, contributing to the company's success and growth. I hope to be involved in implementing its strategy, while progressively taking on greater responsibilities and advancing in my own professional development as well as that of my colleagues.
