1st Year S&T Analyst Lateral to Investment Banking
Currently a 1st year Institutional Equities Sales analyst at a BB (started 6 months ago). Have 1 previous boutique banking internship and a credit risk internship at a BB. I have a solid team but I can see the industry rapidly evolving and this business is becoming a dinosaur that'll become extinct sooner than later.
I've read the stories of those who lateraled from a boutique IB role/valuations role after 1 year into IB, but was wondering if anyone had any experience or knew of an individual managing to lateral from S&T to IB after 1 year full-time? I've begun reaching out to alumni & friends in IB expressing my interests & have begun applying online for positions opening up.
Any other steps I should take and when do spots normally start opening up in the course of the year? Appreciate any and all help as this site has been good to me during my undergraduate & professional career.
Honestly the first thing I would do would be to look at transferring internally within your BB. If you're performing well, it shouldn't be hard to do after a year or so, especially if you're willing to start as a fresh analyst in IB.
Contact headhunters... if you have a good story, they'll give you looks. You may not get the top spot, but MM boutiques hiring candidates with this profile rather often. Some lower end BB's do so as well. If you crush it and network a bit, no bank is off-limits.
Internally is risky due to your program being rotational. Keep your head down, and wait for your permanent seat.