How common is the move from one location at these BBs to another? Is it doable after a single internship there? If one does a really great job, can an MD/VP fast-track them for an interview at another office, or perhaps even send them to another office without an interview for the following summer? Or do you typically have to work there a year or two before asking to transfer locations? Does the answer change if it's for the London or NYC office (which are both presumably in higher demand)? A friend of mine needs advice. Any help is strongly appreciated, thank you!
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i know guys who did it (not exactly sure about the reason why they moved)
analysts who did training in NY/London and then moved to regional offices for ca. 1 year and then moved back to NY/London from there
Alright thank you. Is there any rule of thumb though for how much time you typically spend in a regional office before transferring to NYC/London, or does it vary a lot? Is it potentially doable after an internship if you kick ass?
it is typically 1-1.5 year (both cases i can think of)
think of it like this: why would the ny office take the word of a regional office (or intl office [or vice versa]) for your performance? even if you are the #1 kid at the regional office you'd be working with NY people who don't know you, don't know if you're actually good.
it's 10000x easier if you have a sponsor (at a senior level) who's willing to talk to someone for you if you have a legit reason
regional office is often the smaller office, meaning that there is less analysts and you sometimes work directly with VPs and MD (know a few examples of this in continental Europe) the exposure is great, you learn a lot, it is a generalist role (ibd and capital markets), very often it's called "country coverage", you get more responsibility and MDs actually care what you think. they will also often make calls for you and that is how the move happens.
you will also get to know everyone at the office, be close with other senior guys (senior country officer, ER guys, corporate bankers etc.) so it is much different experience
keep in mind that every small office is different so it is by no means a rule, but that is my experience
JPM SF SAs seem to go to JPM NYC for FT pretty often from what I've seen...
From what I've seen JPM and MS are somewhat more open to this than GS is. I know of people that have both gone to NY or London after SA and for their third years (if accepted). I haven't heard of anyone transferring after just one year though. The most important thing is to kick ass in whatever group you are in, so they're comfortable sending you somewhere else. If you ask to move and you're a mediocre analyst, I doubt they'd be as receptive.
As to locations, I'd imagine NYC and London to be the easiest locations to transfer to because they're so much bigger. I'm sure they'd be able to find a spot for you somewhere vs. in a regional office like Chicago or Houston where they have only 8-10 analysts total.
Kidflash - do you know how many SA's transferred from SF to NY? Is it easy to do?
I've seen at least one a year. I don't know JPM too well, though.
Do firms tend to be reluctant about letting their SA's transfer offices? Or do they allow them to go if they ask.
GS/MS/JPM SA here - I transferred from NY to SF with relatively little hassle (did a few phone interviews). That said, I'm returning for another summer (as a junior), not for FT, so may not be representative.
Accepted Full-Time offer BB, but now hoping to move to a different city. Help! (Originally Posted: 10/15/2014)
Summer'd at a top five BB in {SF, LA, NY} and verbally accepted the return offer for 2015. But due to unforeseen circumstances, I need to work in my home city {SF, LA, NY}. What would be the wisest ways to go about this? How would my employers feel?
My biggest concern is that my offer decision was shaky (it wasn't a unanimous yes) so I don't know if my office will fully back me up on lateralling.
You can ask but they may say no.
Just realised as I hit 'add comment' that that would have added no value. On the bright side, maybe the people who didn't vote yes to bring you back will be supportive of a move haha
I would contact other banks in the city you want to live, explain the situation, and leverage the offer you have. Maybe bring it up to your corporate HR or group, but leave out the fact that its life or death. Test the waters a little bit.
Bad idea.
^It can't be a bad idea if he doesn't really have a choice. At worst, they say no, which leaves him no worse off than if he doesn't ask.
Moving Groups and Locations within BB (Originally Posted: 11/25/2009)
Is this relatively hard to do at the large banks? I'm talking from say, Houston to NY or from LA to NY. Would it entail switching groups as well or is it easier to go from location to location while staying in the same group?
That all depends on whether your current group is located in the new location and whether that location has a need for your level - 2nd year analysts for example. If the answer is no to either of these points, then you will have to switch groups. I would start by touching base with some contacts in groups of that location and check to see if they have any openings for your position, once you find a team, start putting the wheels into motion. For more help on process and such, check this out: http://www.bankonbanking.com/2009/07/27/making-the-group-switch/
Good luck.
It's hard to do. But it can be done. You generally have to P.O. the group your leaving.
BB blocking SA transfer to a different office for FT? (Originally Posted: 08/23/2008)
What happens if you just don't like the city you summered in because it is just not a financial center of any kind, lack of networking opportunities, lower pay, lack of friends and family (social life) etc. Is it possible to move to the NY office of the same firm if there is a legitimate excuse such as a family member being sick or if you just want to move to NYC because it is a better fit in terms of all the reasons mentioned above?
Do BBs usually block attempts by SAs to transfer to the NYC office for FT? Anyone have personal experience with this type of situation?
They won't block you, per se. But usually when you want to internally transfer from something like SF to NYC or what have you, you will probably have to re-interview with people in NYC. If the firm feels that strongly about keeping you where you are, you just wouldn't get an offer. Keep in mind that a lot of people want to be in the NY offices of the BBs from other places and it's definitely not easy to accommodate. We had a rising 3rd year from the west coast come interview with our group since he wanted to move back to NYC because that's where he grew up but we weren't particularly fond of him nor do we have the capacity to accept another analyst in our group. I think he'll stay put.
Unfortunately from your post HerSerendipity, it seems that internal transfer to NYC from a regional offce is tough to do. I certainly won't mind interviewing with people in NYC if that is what I have to do. The NYC offices already have so many people that space and overhead costs are the real concerns when it comes to internal transfer to NYC.
Internal transfer to a different office could certainly piss off your current office/group which is another thing to keep in mind.
Switching Offices at BB after SA? (Originally Posted: 04/06/2013)
Hey all,
Has anyone switched offices after their summer internship at a BB? In particular, I was wondering how one would go about doing it? I'm at a regional office of a BB and wanted to transfer to NY or SF, but my school is a complete non target for those offices (a semi-target for the one I'm at right now).
How should I network to do this and who should I try to contact? Is it too risky to try to network during the internship or would it be better to ask HR directly after the internship if I could go FT in another office?
Thanks
Know someone who did that at my BB this past summer. She basically asked HR and they flew her into NYC and gave her interviews...ended up getting the offer and she's starting in NYC in June.
^^ Do you know how that affected her old offer? I.e. did they say, "interview in NYC, and if you fail, you can still come work at XX city", or did they say "okay, go interview for NYC, but if you don't make it we'll have filled the spot back in XX city with someone else"?
Interested
my friend worked in S&T in a BB during summer and moved to another department later.
Just be honest with HR and they will try to set up processes to the extent it is possible. Also, if you make a good relationship with any of the bankers on your team, asking them to help you out would dramatically improve your chances. Once you have an offer from a BB, you can also participate in accelerate FT interviews at other firms as well, where you can focus on NY.
Also interested. Also any tips on how to get into accel. interviews at other BBs? Pure networking?
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