Hey everyone! I'm a first year investment banking analyst at a lower tier BB in New York City. I'm in a capital markets group (Securitized Products Group) and desperate to lateral. My group is hostile to people leaving--and so if I start interviewing and trying to move, I most likely will get fired during the next round of layoffs next January.
I would like to leave and go to a coverage group elsewhere. I'm not getting any of the experience I want to and almost zero exit opportunities. Here are my options:
I can use my firm's internal mobility program and switch into a coverage group when I'm a third year analyst. By that time, I will be extremely close to getting promoted to an Associate.
I can attempt to lateral, and risk getting fired in January 2019 after my first year in banking. Coming from a non-target school, I am nervous about how my job opportunities will be if I take this route.
I already tried internally moving and HR told me in no uncertain terms that would not be possible before the rotation program. Would anybody here have any advice? Should I wait until I'm a third year analyst? Will I still be able to recruit for PE as a 1st year associate? Or should I lateral now and take the risk?
I understand your situation, but I was able to switch after my SA position in a similar group. I don't know how your bank works specifically, but I know people that have made the move after their analyst program who were not promoted at the next level in the new group (i.e. additional year as an analyst). The skill set is not directly applicable and you can't expect them to let you manage analyst with no IB experience. If they allow you to do the full associate (1 month) training with the new incoming analyst and MBA class, you may have a better chance.
Hey! Actually, I know lots of people at my firm that made that move after their analyst years. It's practically guaranteed. You do go through training with the incoming associates/MBAs and then start upstairs.
Between the two options, which one do you believe is best? And are you working at an investment bank now?
bump!
Bump!
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