Got a summer analyst position at a large asset manager. Starting to think of a lateral switch?

I had a superday where I interviewed with Fixed Income, Equities, and (last minute) Securities Lending. I was mainly interested in FI but only got an offer at securities lending. My main interest is in Asset Management and I'm preparing to take the CFA this June.

My main question is how can I show that I want to make a lateral switch to another department after I finish the summer program and hopefully get a full time offer? Getting a full time offer is my first priority so I don't want to risk talking to my boss during the summer and pissing him off.

Anyone else have experience with this?

Comments (85)

Dec 31, 1969 - 7:01pm
michigan901, what's your opinion? Comment below:

Advice needed! Currently interning in sales but want to switch to trading ft (Originally Posted: 07/18/2011)


Long time lurker here and it would be great to get everyone's feedback.

I'm currently interning in sales and would like to do trading for ft. When I went through summer recruiting I indicated a preference for trading but got put in sales anyway.

I like my bank and would prefer to stay at the same firm. How can I best position myself for a ft offer in trading? When should I speak up, and to who?

I don't want to tread over any toes, and at the end of the day would prefer a return offer in sales than no offer at all. But still......any advice?


Dec 31, 1969 - 7:03pm
Higheck123, what's your opinion? Comment below:

Pulling a Switch Post Internship? (Originally Posted: 11/18/2012)

Got a quick question. I was fortunate enough to get a big 4 internship for the summer and although I am very happy with the people and the office, the position is for audit and I think I may be a better fit for tax. Of course I am not going to try to switch now but I am curious about what my chances are to switch to tax if I were to get an offer for full time. Has anyone ever had this experience or know anyone who has?

Dec 31, 1969 - 7:07pm
full_tilt, what's your opinion? Comment below:

Switch internally for FT? (Originally Posted: 02/21/2013)

Just got an offer for PWM internship for a NY bank as a junior. I was wondering if it is possible at all to network internally to be considered for their IBD/public equity group for FT over the summer. Can this be done? Or is it a big no-no?

Dec 31, 1969 - 7:13pm
bill86, what's your opinion? Comment below:

Cross Divisional move??? (Originally Posted: 06/24/2008)

I understand that many banks claim to give out 100% of their full time offers to internal summers. I was wondering how that works if you are interested in switching across divisions ie-Banking to Research, Research to S&T, etc.

Also - is it unlikely that another firm will consider you for a role outside of what your summer internship was?

I understand the first priority is to receive an offer from your group/desk/division as this makes your life a lot simpler, but assuming you are a strong candidate, is a cross-divisional move a realistic possibility?

Dec 31, 1969 - 7:15pm
johnsons, what's your opinion? Comment below:

changing groups from summer to ft (Originally Posted: 03/07/2007)

how hard is it to change groups within the same bank if you interned in one group but wanted to move to another full time?

Dec 31, 1969 - 7:18pm
cmxxi, what's your opinion? Comment below:

Changing it wise? (Originally Posted: 04/08/2013)

Having interned with a BB transaction division last year I received a full time offer for September which I accepted.

I'd like to work abroad during the summer in something relevant and the same bank has a SA opportunity in the country I'd like in capital markets. This is the only internship they have left and I'd really like it!

I'd like to apply but I'm weary that this might piss HR off considering I'll be working FT in a different division come Sept.

How would you go about this?

Dec 31, 1969 - 7:29pm
michigan901, what's your opinion? Comment below:

Switching groups for FT (Originally Posted: 07/25/2011)

Hey guys,

Would wondering if anyone could share some advice. I'm interning at a BB this summer, love the bank culture and would definitely stay if I get a return offer. However, I would like to be in a different group though...when should I bring this up? before the end of the internship or after I (hopefully) get an offer?

BTW - I am in sales right now, would like to be in trading. I figured this question is also applicable if you wanted to switch groups within IBD (eg coverage to product or vice versa)


Dec 31, 1969 - 7:33pm
happyguy911, what's your opinion? Comment below:

Advice on switching divisions (Originally Posted: 04/03/2010)

I am going to be interning this summer at an investment bank in new york, but its not in the division i want to end up in. Specifically, I'll be working in a position that is back/mid office, but I want to end up in the IBD. Any advice/insight on the best way to do this? How about if I want to switch divisions, and also get a full time offer in another city, how would that work?

Any help is greatly appreciated.

Best Response
Dec 31, 1969 - 7:34pm
PaperTrail, what's your opinion? Comment below:

Probably not the answer you want to hear, but I think it'd be tough. With thousands of people working at each bank, just because you work there doesn't mean you are really connected to the bankers/traders, etc.

However, if your one and only goal is to end up in IBD and not the division you intern, then you do have the advantage of being around a lot of people that are in positions you want to be in. As awkward as it can be, try to build relationships. BS with people in the cafeteria, in the elevator, at the gym. Maybe they'll help you land an interview.

I think its similar to reaching out to alumni. You have a commonality, but beyond that not a whole lot. It might help the initial conversation get started, but from there you need to constantly be on your toes. A good thing - if mid/back office is not at all what you want, then you have little to lose by trying to switch things up. From an HR perspective though, I doubt that they will give you a better shot at IBD than any other candidate simply because you worked for them in a different division of the firm.

Dec 31, 1969 - 7:36pm
Ukon, what's your opinion? Comment below:

Switching within divisions will depend on firm policy.

Some firms will only extend you an offer in your summer group, so even switching within the division will be tough.

Some firms will extend you a general IBD offer after the summer, meaning that you will have another round of group placement for your full time. However, most of the time, SA in one particular group obviously have the priority to go back to that group. With this said, if you are looking to switch into the most popular groups (M&A, LevFin, top coverage team etc.), it would still be challenging. However, if you are looking to switching out from cap mkts team (assuming if falls under IBD, not true for all banks) to a random coverage team, it is quite doable.

Just my 2cents.

Dec 31, 1969 - 7:37pm
reddog23, what's your opinion? Comment below:

Switching divisions (Originally Posted: 07/03/2011)

I'm currently a summer analyst at a top BB in an internal (back office?) role (think business development, strategy, ..).

Recently, I've been getting a lot of questions from the analysts and associates about what I want ultimately want to do and whether I am interested in switching to either IBD or S + T for full time. In addition,they've been bringing me to meet people both on the trading floor and in banking during lunch time and whenever the vps/mds are not around.

Ideally, I would like to do trading and would probably also choose capital markets over my current group. I'm very hesitant, however, to mention this to my group for fear of not getting a return offer.

Should I let people in my group know what I want to do? If so, how should I go about doing this? So far, I've been dodging the questions and given them very general answers.

Some additional details:

The analysts who have been asking me the bulk of these questions do not seem thrilled with the group and have made it quite obvious that they are also trying to leave.

I'm the only summer analyst in the group and it is a very small group.

I personally feel that I haven't been doing that great of a job this summer, but have been getting basically nothing but complements/pats on the backs. Whenever I screw up, they've always made it seem like it wasn't my fault. They also seem impressed that I understand absolutely basic concepts. Basically, it seems like they have ridiculously low expectations of me.

Dec 31, 1969 - 7:41pm
powertime, what's your opinion? Comment below:

Switching Groups - How easy would it be to switch to FT in NY (Originally Posted: 03/26/2009)

I have a S&T BB offer in a regional office this summer. My goal is to end up in New York FT. Assuming I receive a FT offer, how easy would it be to switch to FT in NY? Also, I would have to switch products.

Dec 31, 1969 - 8:17pm
MBXS, what's your opinion? Comment below:

Signed offer letter to return, but want to switch groups. Best course of action? (Originally Posted: 10/18/2014)

I interned at a regional advisory shop specializing in M&A, but want to make move to CM at a BB. Now, not sure what to do. Do I still reach out and see what to do? Or am I now supposed to just drop this and wait a year before reaching out again? Thanks

Dec 31, 1969 - 8:19pm
jessica robin, what's your opinion? Comment below:

Upon recieving a return offer, how would I go about changing Investment Banking groups at BB (Originally Posted: 06/18/2014)

I accepted a summer anaylst (internship) offer at a BB Investment Bank. I was accepted into my second group choice. Upon recieving the offer, how would I ask to transitioin into LevFin, as opposed to the current indsutry group I am in? How do I go about approaching this pre-offer? And what do I do post offer? (assuming I recieve an offer)

Has anyone done this? Any advice?

Dec 31, 1969 - 8:20pm
-caP1taL1sm.., what's your opinion? Comment below:

Interested as well

"I did it for me...I liked it...I was good at it. And I was really... I was alive."
Dec 31, 1969 - 8:23pm
snazzy, what's your opinion? Comment below:

Internal Transfer - Junior summer internship (Originally Posted: 07/23/2007)

So here's my deal: I'm doing my junior summer internship in a non Front-Office division of an IB in midtown. I feel I'm doing well because I'm given a fair amount of responsibility, unlike many S&T interns who just answer the phone and fetch lunch. However, there is a certain stigma attached to back office.

My thing is that I want to do trading for full time, and one way to accomplish that would be for me to attempt to transfer internally at my bank. But, if I try to get interviews by approaching HR before offers are given out for my division, I may not get one, and if I do so afterwards, I may lose that offer if I get one. Ultimately though, one way or another I want to walk away from the internship with an offer.

So what do I do? How should I proceed? Any advice?

Dec 31, 1969 - 8:24pm
net worth or nothing, what's your opinion? Comment below:

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Dec 31, 1969 - 8:25pm
randomwalk, what's your opinion? Comment below:

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