Valuations vs Corporate Banking for breaking into IB
Hi all,
Some background, I graduated last year and am now working in Valuations. I have an offer to go into corporate banking, but my ultimate goal is IB. Would you guys recommend that I stay in valuations and try to recruit for IB analyst roles, or do you think going into corporate banking first and then trying to transition into IB is easier? Just wondering whether one is better than the other if I want to break into IB.
No, I never had any IB internships because I didn't learn about IB until near graduation.
Any and all thoughts appreciated.
Thanks!
what kind of work are you doing in your valuations role?
409a private company valuations
bumping for you. Is this at a big 4? I'm assuming b4 doesn't do private company valuations
where’s the corporate banking role at? Private company valuation would probably get you looks at MM firms, but the lateral market is rather hazy. if you’re doing CB at a large bank, you could push for an internal lateral after a year or 2
im doing it at a pretty well known bank but the IB division is pretty far removed from the CB division unfortunately since their IB division is a totally diff subsidiary. The CB position is also part of a development program and I think they really want you to stay on afterwards
if this is a super regional bank, I know which one it is. Program has super high turnover and they definitely are not very big on lateraling
well thanks for all the input. I've decided to stick in valuations as I think that might be a better for me to transition into IB later on. I was really stuck on the corporate/commercial banking gig because I thought deal/transaction experience would be more beneficial, but I think what I learn in valuations might be more valuable. We'll see.
I did valuation/TAS at a non-big 4 firm and moved to MM IB. You will definitely get looks, just make sure you're focusing on 409a's / PPA's / any projects related to M&A. If you can, fairness opinions would be good to get on as well (I never did one but certainly can't hurt). Better to leave sooner rather than later, with a minimum of 1 year into valuation and maybe a max of 2.5-3.0.
FWIW, I secured interviews from no name IB's in different cities to lower tier BB's and many MM firms, so definitely possible. I'd suggest not being picky with city / group as that will significantly lower the number of applicable opportunities.
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