Is it worth it leaving a top ii team?
I would really appreciate a second opinion from you guys. Basically, I am in a top 3 ii ranked bank and also team. However, I am 2 years out from a promotion to associate. I have received the opportunity to switch to a worse bank think Jeffries and a worse team in term of ii rankings. On one hand skipping two years and getting an instant salary boost to $175k is amazing but on the other hand I wonder how much it would affect my chances at moving to the buy-side eventually or my success on the sell-side if I stayed.
Other than pay boost, what are you getting at the new role?
If you want to stay on the sell-side, I would stay. If you want to go buy-side, depends on whether you have had trouble getting exposure on your current role, which maybe drove your decision to search.
If the goal is the buyside, what would you say about switching into a better sector (TMT) from something like FIG. Also the new bank would be worse (think CS / Barclays / DB)
First of all, CS and Barclays are fine. DB not so much. From buy-side stand point, most don't care if you from JP/BofA or CS/Barclays, but they will expect less from someone at Wedbush (yes I always pick on them just like folks pick on Rutgers and Baruch.)
It depends on:
Having only been in the job search for a little over 2 months, I'm a bit lost on how I should proceed from here. Am I giving up too early? Surprisingly some of the top shops like Cap group don't sponsor and my FIG background isn't helping at all. End goal would be on buyside (pref SM HF / LO) but open to MM HF as well at this point. Any insights would be much appreciated!
International makes it hard, yes. I cannot help you on that aspect.
Yes, you are giving up too early.
You just listed all major optionality from sell-side: MM / SM / LO. I suggest you figure out your investing style before making a move. Getting to the buy-side for the sake of it is not a prudent move, I speak from personal experience.
Just curious about people's thoughts. Why is II team or BB so important? Maybe from a network perspective? I am in biotech. I have seen people (no name boutique, MM, BB no.1 ranked team) move to big MM or reputable single manager funds and crossover. Maybe my sample is small but there does not seem to be a very strong correlation......
First of all the high ranked ii analysts most always work at a BB. Part of the advantage say JPM has is that they receive corporate access and also have their IB side help out with initiations and whatnot. It's much easier to get a companies IR team to respond and help out if you come from a BB over a "noname".
ii ranking reflects how much buy-side likes and works with the analyst. So it's not that a great ii ranking means anything on its own but rather people are ranked highly because they have that contact with the buy-side.
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