Finance Division Of A Bank?

Oh, this is in the strategic planning group

Hey NYC: this is most likely middle office. Broadly (and every firm is different), things break down like this:

FO: Revenue generation

-IBD
-S&T
-Buy-side groups (think merchant banking, HF/PE/VC arms, etc.)

MO: FO Support

-Finance
-Credit (sometimes combined with finance)
-other? Anyone else care to elaborate on other MO positions?

BO: Controls, Ops, etc.

-Audit
-Operations (verifying trades and information
-again, any others here?

That is broadly how things break down.

Now, how hard would it be to move into the front office into a trading role? That's what I eventually would like to do.

I know it would be easier than someone moving from a back-office ops position, but I'm not sure if the glass ceiling still exists for me.

It sucks, but you've got it: it is still very difficult to move from the MO to FO. Remember, when they hire people in opps and finance, they do not give you a two-year analyst contract. They "expect" that you will make a career out of it.

That said, it can be done. If you're left at the end of recruiting season without an offer, it might be your best bet. That said, don't be discouraged. If you want it, you can get it (trading, etc.). Get on the phone with every alum you can, network like hell in the short time you have, and appy everywhere. ALOT of small places out there run S&T floors. Don't limit yourself to just NYC. Look at the west coast...everywhere. Good luck!

While this was not a two-year contract in writing, in the interview the Hiring Manager told me that the position was not designed to be a career position, after about 2 years they want me to move into a Sales or Trading role, where they would then hire someone new out of school to replace me. I'm wondering if this is all a bunch of fluff?

This is at a BB? Pretty interesting, though yes, I would keep a skeptic mindset and probe a bit (without seeming like you're skeptical or probing, of course). Are you sure he didn't mean "so you can move into an S&T MO support role"? Again, definitely not trying to bum you out. But you want to be extra clear with things and where your career path will move. For instance, will you get the chance to network with the S&T department? Would seem strange if in two years they just found you and said, "OK, time for trading interviews!" Do you see what I mean? Just ask some more questions like "how does this prepare me for S&T", etc. etc. Ask anything you can while not giving away that you want S&T first, that should give you a clear idea.

In fact, I'd ask him to just repeat that: "So you mentioned after two years others who took this position have moved to S&T?"