Switching groups (product to industry group) during summer internship?

I've been placed in a product group for the summer, but I'm looking to switch into an industry group ASAP as that's really what I'm interested in and where I'd to be considered for FT.

Anyone have tips on the best way to go about this? HR did say that there is a legitimate process to switch, but I also don't want to show up on day one acting like an entitled jerk that hates the group. Maybe some advice on how to explain myself or talk to bankers in other groups in a non-shady way? Any thoughts much appreciated.

 
Best Response
c1057:

I've been placed in a product group for the summer, but I'm looking to switch into an industry group ASAP as that's really what I'm interested in and where I'd to be considered for FT.

Anyone have tips on the best way to go about this? HR did say that there is a legitimate process to switch, but I also don't want to show up on day one acting like an entitled jerk that hates the group. Maybe some advice on how to explain myself or talk to bankers in other groups in a non-shady way? Any thoughts much appreciated.

to my knowledge and common sense, you definitely dont want to come in the office on day one with the mentality to switch out of this group.. be happy you got an SA and stop feeling like you are entitled to what you want.

work hard, show that you are a good person and then towards the end once you are familiar with the people and you have built trust you can start to talk about how a certain industry group is what aligns best with your career goal/something your most passionate about.

if you have already proven to be a good person, they will not get mad. people understand. also, reach out to those people in the group you desire either through the networking events hosted by your firm or through email.

i think at the end of the process HR will also ask you if you get a FT offer if this group is where you want to spend your 2 years. thats probably where you can make the switch. also worst comes to worst, if the other industry group is full you can do a year at your group and lateral out.

the worst thing that you can do to your SA stint is acting like an entitled snob.

hope that helps and mayb others who have successfully made the switch can share. what product group are you in btw?

 

i'm in DCM - nothing against the group specifically, just not exactly what i was looking for. Hopefully you're right about the possibility of being able to switch at the end. The group probably knows that it wasn't my first choice, so my first goal is just to prove that i'm willing to work hard anyway. Thanks for the thoughts!

 
c1057:

i'm in DCM - nothing against the group specifically, just not exactly what i was looking for. Hopefully you're right about the possibility of being able to switch at the end. The group probably knows that it wasn't my first choice, so my first goal is just to prove that i'm willing to work hard anyway. Thanks for the thoughts!

no worries. dont come to work everyday wishing you were in a different group. try to be positive and grateful about this experience.. some kids would die to be in your position right now.

but now that you mentioned youre in DCM i understand why youre kinda mad.. but dont come in there every morning with the body language that i dont want to be here.

your goal is to get a FT offer, that is it - which means work hard + positivity. the last thing you want to do is realize you didn't get a FT offer, then you will never switch to an industry group and have to continue this process all over again.

goodluck

 

honestly, its just a few months- grind it out. get the offer, then negotiate switching groups if you really want (maybe you'll like DCM). If not and that is a deal breaker, you can interview at other banks with an offer in hand.

this is much better than 1. asking to switch groups 2. not getting a FT offer because everyone thinks you're a prick and 3. as a result not getting offers at any other banks.

dont screw this up

 

Be friendly, but do your work. You need to network a little, but you do know that after you are given an offer most banks ask you which 3-5 groups you want to work in. Most go back to the group they know/like because they chose that group to begin with, but some want and do move to other groups. The way it works is that you are given an offer and there are division specific networking receptions where new hires meet with different groups and try to find your place. If both the new hire and the group express an interest, that new hire is usually placed into that group.

If you start trying to do work for that other group, I can guarantee you will not get a return offer. It shows your not loyal and a group will not extend a FT offer to someone who clearly does not want to be with them (you will not do enough work for that other group to give you an offer)

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

Thanks Gekko21, yeah if I try for the other group I will probably lose out on the offer. Is it possible to do this before the internship begins though, and generally what I wanted to do is learn and know as much about lev fin and the work that they do and try to gain as much. Both the departments are on the same floor and when I visited the office I realized that the environment was pretty conducive to meeting new people. The final placement that you are talking about takes place after the FT offer is given right , but I am not exactly sure right now that I would like to work there FT, depends on the experience though, too early to call.

 

I wouldnt use the word 3rd tier but yes its not the biggest of names on Wall street and the two divisions are different but the work that they do are almost the same, so thats why I want to pick up as many skills as I can during the internship so that for FT atleast I have done something solid and can then move forward. But at the same time I want to atleast have an offer at the end and something to fall back to.

 

To the first question, I would say something like: I want to develop deeper relationships with the companies of industry X, and explore all of the types of transactions associated with the industry. My exposure to the industry in product X has allowed me to see many of the interesting aspects of the industry, but primarily from one vantage point - high yield for example if in Lev Fin. After working in Product X for [1,2] year(s), I am interested in broadening my exposure beyond one particular product and to all of the products within industry X. Play around with it, of course, but that's pretty much the direction I'd go in to get started.

IBanker www.BankonBanking.com [email protected] Articles, News, Advice and More Break Into Investment Banking

 

Est quod adipisci natus nam repellat magni. Aliquam voluptate facere sunt accusamus. Eum quae adipisci natus aut porro.

A necessitatibus reiciendis voluptatum dolor rem et cum natus. Quo quisquam et ipsam tempore. Sit quod minima dolorem. Non ut ipsam excepturi numquam molestiae voluptatibus pariatur. Quia optio ab praesentium quia ipsum. Rerum neque sit unde.

Neque in ea incidunt unde. Labore praesentium est repellendus alias. Ab quae quam eveniet est delectus minus vitae maiores.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”