I work on sell-side at a bank that is open to people switching sectors. I'm tossing up the idea of switching. Not sure of the process - anyone done this before and have any advice?
Bonus question: anyone done this by switching bank or by going to buyside?
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Switching sectors, whether within the same bank or by moving to a different bank or the buy-side, can be a challenging but rewarding move. Here are a few tips based on the most helpful WSO content:
Identify Your Interest: First, you need to identify which sector you're interested in. This could be based on market trends, personal interest, or where you see potential growth.
Learn About the Sector: Start learning about the new sector. This could involve reading industry reports, following relevant news, and understanding the key players and dynamics of the sector.
Leverage Your Current Position: Use your current position to gain exposure to the new sector. This could involve working on projects or deals related to the sector, or networking with colleagues who work in the sector.
Network: Reach out to people in the sector you're interested in. This could be through formal networking events, or informally through colleagues or friends. Ask them about their experiences, the challenges and opportunities in the sector, and any advice they have for someone looking to make the switch.
Update Your Resume: Tailor your resume to highlight any experience or skills that would be relevant to the new sector. This could involve emphasizing transferable skills, or any exposure you've had to the sector in your current role.
Consider Further Education: Depending on the sector, you might need to consider further education or certifications. For example, if you're moving into a highly technical sector, you might need to learn new skills or tools.
As for your bonus question, switching banks or moving to the buy-side can be a good way to switch sectors, especially if your current bank isn't strong in the sector you're interested in. However, this would likely involve a more significant change and potentially more risk, so it's something you'd need to consider carefully.
Remember, every journey is unique and what worked for one person might not work for another. So take these tips as a starting point, but also listen to your gut and do what feels right for you. Good luck!
Sources: How to pick your next sell-side research job, Seeking advice - Decade of experience in niche sector and laid off, Stand Out as a Non-Target: Career Management (Part 4 of 4), Advice on career and the switch into investment banking
Switching sectors can be a great move, but it's not without its challenges. Here's a bit of advice based on the most helpful WSO content:
Identify Your Interest: First, you need to identify which sector you're interested in. This could be based on market trends, personal interest, or where you see potential growth.
Learn About the Sector: Once you've identified the sector, start learning about it. This could involve reading industry reports, following news and trends, and understanding the key players and dynamics of the sector.
Leverage Your Current Position: Use your current position to gain exposure to the new sector. This could involve working on projects or deals related to the sector, or networking with colleagues who work in that sector.
Network: Reach out to people in the sector you're interested in. This could be through formal networking events, or informal chats. Ask them about their experiences, the challenges they face, and the skills they find most valuable.
Update Your Skills: Depending on the sector, you might need to update your skills or gain new ones. This could involve taking courses, gaining certifications, or learning new software or tools.
As for your bonus question, switching banks or going to the buy-side can be a viable path to switching sectors. However, it's important to note that each path comes with its own set of challenges and opportunities. For instance, switching banks might give you a fresh start and the chance to work in a new sector, but it could also mean starting from scratch in terms of building relationships and understanding the new bank's culture. On the other hand, moving to the buy-side could give you more in-depth exposure to a sector, but it could also be more demanding in terms of workload and expectations.
Remember, there's no one-size-fits-all answer here. The best path depends on your personal goals, skills, and circumstances. Good luck with your decision!
Sources: How to pick your next sell-side research job, Seeking advice - Decade of experience in niche sector and laid off, Stand Out as a Non-Target: Career Management (Part 4 of 4), Advice on career and the switch into investment banking
This could rub your analyst the wrong way. I’d try at other banks.
Any color on what sector you’re in and what you’re trying to get in to? Obviously without giving yourself away
Similique ad et placeat. Et et mollitia et laborum occaecati porro ipsa aperiam.
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