Breaking Into IB from DCM?
Hi friends, relatively new (as you can see) chimp here, since I have been unsuccessful in applying for IB in BBs, I have been going for interviews with boutiques to secure IB (M&A) SA 2019. Recently I have been in contact for a DCM (Bonds) role at an IBB (in-between banks eg. WellsFargo/Societe Generale) for Spring 2019. Assuming it is too competitive for me to even secure an IB SA with BB's/IBB, I'm wondering if DCM would be just as solid experience in my CV to prepare me for lateral mobility to BB/IBB M&A.
Edit 1. Background: target, not so fantastic GPA Edit 2. Borderline 2:1 Edit 3. Received Boutique M&A SA interviews, IBB DCM Spring interviews, BB S&T SA interview
Most banks consider DCM IB.
My apologies, I should have been clearer to say breaking into IB M&A specifically. Any thoughts on how getting doing DCM role would value add in my application for the former? Would appreciate if anyone had experience from transitioning DCM to M&A. Based on what i have read online, ppl usually stay in DCM or get labelled by it..
My apologies, I should have been clearer to say breaking into IB M&A specifically. Any thoughts on how getting doing DCM role would value add in my application for the former? Would appreciate if anyone had experience from transitioning DCM to M&A. Based on what i have read online, ppl usually stay in DCM or get labelled by it.. [/quote] Depends on the bank. DCM and M&A are typically both product groups, moving from one to the other is simple with your senior team supporting you. At some banks, M&A is handled by the coverage teams. Still possible.
was about to say this
Be specific... what exactly is a "not so fantastic" GPA?
Dont try to be cool and say things like "beef me up for a seat at the table with you crazy kids from IB." Lmao
By not so fantastic I mean borderline 2:1. Expected to get shit on rather early on but didn’t think it would be this soon. Either ways I wouldn’t be deserving of ib internship if I can’t put up with this. You must be really fun to be around at parties huh.
He's a fucking loser pay no attention. For as many specifics as he asks not once has he come forth with his real GPA / experience / what school he goes to. Just an internet troll that thinks he's hot shit because he's the only kid at his no-name school that knows about WSO.
DCM is generally considered IB. I'm assuming you're wondering if a SA stint at a Eurobank will transition well into FT recruiting. Obviously it won't be as impactful as having IB SA experience under your belt but most bank's won't think anything along the lines of "Eww DCM" since DCM is likely grouped under their own IBD.
DCM is likely rolled up into IB wherever you're looking. Just take it if you don't have anything else and network with the groups you want to be in during the summer.
Thanks for advice, thats what I thought too. ’m kinda in a smaller boutique m&a vs large euro bank DCM kinda situation here. At the time of application I tried for both IB M&A and capital markets but after networking I’m leaning towards M&A
Anyone here went from DCM to M&A or know anyone who did? Would for y’all to share!
Why do prospective students on here think M&A is the only product/group in IB? There's ECM, DCM, industry coverage groups private & public. etc.... I get that M&A is hot right now but don't put all of your eggs in one basket. There are other ways in IB to make a good career & live a darn good lifestyle.
Absolutely agree that there are other ways in IB - as well as in many other careers - to make a good career/live a darn good lifestyle. I think the reason for this cemented impression of M&A in students are three fold: First, it has been and still is popularized by many working professionals as among the most attractive paying job. This is also reinforced by the 'circle jerking culture' of bankers in the way that they present themselves and others in the industry. It also doesn't help that M&A has been glorified in Hollywood films as well. Having that said, as a student myself with no experience in this field I aim to get as much experience as possible to supplement my academic learning. I'm not the kind to claim that "IB is my destiny/I only want to do IB" etc. as I am young, way too young to know for sure until I try but lets be honest, won't deny that the reasons above has effected my impression!
Because careers advice is terrible and most students have an awful understanding of how the pieces of finance fit together. People have no idea that finance isn't just IB/PE.. the whole asset owner market of pension funds, E&F, treasury depts, all of the non-standard IB groups like securitised products, derivatives, capital structure advisory, etc are lost on most students considering a career in finance.
Which separates the ones who's in it for the money, and those who really know what they want. The term "finance" is ridiculously broad, I know a friend who had a cash registration/data entry role and he considered that finance.
probably due to the lack news articles touching on these products/firms. Most students knowledge comes from reading the WSJ/FT.
Had a friend who interned in DCM and converted to a full-time offer in an industry group. This was London though
Thanks for sharing, was it in BB or IBB?
Top BB
Love when kids write off something they’ve never done.
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