CB Internship to IB FT
I got interested in IB/CB much later than most of my peers (I'm a STEM major at a target school with little to no finance experience) so I was unable to land an IB SA offer, but managed to land an offer for 2024 CB SA at a Canadian bank in NYC. I still really want to end up in IB for FT, but I don't know how difficult it is exactly to go from a CB internship to IB full time. I'm also not sure which groups it would be best to recruit for, especially considering that the CB branch of the bank im interning at next summer seems pretty utilities/industrials/renewable/infrastructure heavy and not much else (so maybe power/utilities, DCM, project finance, or something similar?). It also sucks cause my interest in finance started out as an interest in healthcare IB, so kinda seems like I'll never really be able to engage with the HC industry. It would be great to get some input
Congrats on landing the CB SA offer! That's a great start. Transitioning from a CB internship to IB full time can be challenging, but it's definitely not impossible. Here are a few tips:
Leverage Your Internship: Use your CB internship to gain as much relevant experience as you can. Learn about financial modeling, deal structures, and industry trends. This will be valuable when you're interviewing for IB roles.
Network: Networking is key in the finance industry. Try to build relationships with people in the IB department of your bank. Express your interest in IB and ask for advice on making the transition.
Tailor Your Story: When recruiting for IB roles, you'll need to explain why you want to switch from CB to IB. Make sure you have a compelling story that ties your experiences and interests together.
Prep for Interviews: IB interviews can be quite technical. Use resources like the WSO Investment Banking Interview Prep to get ready.
Be Open to Different Groups: While you may have an interest in healthcare IB, be open to other groups as well. The skills you learn in IB are transferable across industries.
Remember, many people have successfully made the transition from CB to IB. Stay focused, work hard, and keep pushing towards your goal. Good luck!
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