Nov 08, 2024

Commercial Banking SA to Corporate Banking FT?

Hi,

Will be starting at a big balance sheet bank (BofA, JPM, WF) in Commercial Banking in 2025. Curious about how to navigate to different roles such as Corporate Banking, S&T, Research, or IB after my internship? Either through internally or externally. 

6 Comments
 

Based on the most helpful WSO content, here are some insights on navigating from a Commercial Banking Summer Analyst (SA) role to a full-time (FT) position in Corporate Banking, Sales & Trading (S&T), Research, or Investment Banking (IB):

Transitioning to Corporate Banking:

  1. Networking:

    • Leverage your internship to build relationships within the bank. Networking is crucial for internal moves.
    • Attend events, connect with colleagues, and seek mentorship from those in Corporate Banking.
  2. Skill Development:

    • Focus on developing skills relevant to Corporate Banking, such as credit analysis, financial modeling, and understanding asset-based lending (ABL) revolvers.
    • Demonstrate your knowledge of the bank's operations and the specific space they operate in.
  3. Performance:

    • Excel in your current role to make a strong case for your transition. High performance can open doors for internal mobility.

Transitioning to S&T, Research, or IB:

  1. Desk Preferences:

    • If you have the opportunity to preference desks during your internship, aim for those that align with your target area. For example, Solutions or Credit desks in S&T can provide relevant experience for IB.
  2. Internal Moves:

    • Express your interest in transitioning to S&T, Research, or IB early on. Internal transfers are often easier if you have demonstrated interest and relevant skills.
    • Utilize internal job boards and apply for open positions within the bank.
  3. Skill Alignment:

    • For S&T: Focus on desks where you can utilize accounting, corporate finance knowledge, and Excel extensively.
    • For IB: Prepare for IB interviews by honing skills in financial statement analysis, market research, and statistical modeling.
  4. External Moves:

    • If internal moves are not feasible, start networking externally. Reach out to alumni and friends in your target areas.
    • Apply online for positions and be prepared to discuss how your experience in Commercial Banking has prepared you for the new role.

General Tips:

  • Interview Preparation:

    • Prepare for interviews by understanding the differences in interview prep for each role. For example, Corporate Banking interviews may focus more on credit basics and ABL, while IB interviews will require strong financial modeling skills.
  • Timing:

    • Be aware of the recruitment cycles for each division. For example, IB positions often open up at specific times of the year, so plan your applications accordingly.

By following these steps, you can effectively navigate your career transition from a Commercial Banking SA role to a full-time position in Corporate Banking, S&T, Research, or IB.

Sources: S&T Summer Analyst Lateral to IB FT?, Why corporate banking instead of investment banking?, 1st Year S&T Analyst Lateral to Investment Banking, Why corporate banking instead of investment banking?, Q&A: Career Transitions - Corporate to IB to Corp Dev to Independent Consulting

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Hey man 

have a SA in commercial banking too, was wondering how you are prepping ? 

 

I’m pretty sure it’s going to be learning on the spot but also having accounting foundation is good. I’ll prep when it comes the time

 

Around halfway through your internship reach out to analysts in your city for coffee chats. Full time CB roles are hard to find—over 90% are filled by returning analysts. Probably less than 50 of these roles available in total in the US across the major balance sheet banks with IB capacity so fight hard!

 

Is mentioning that you want to transition to a different role a good idea during the summer? Seeing mixed reviews of networking and being open about it to your managers at the start (some say don’t, some say do)

 

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