Hi all,
I'm due to start a grad programme at a French bank in London in August. I shall rotate three times over the course of a year in the capital markets origination teams (these include FIG DCM, CEEMEA DCM, Asset Financing, etc.)
Over the course of my final year at university, I've realised that my long term career ambitions need me to be in IB for a little while rather than in S&T or Capital Markets. So I'll need to make the move.
Anyone have any recommendations on how to do this? Should I do it within my bank or apply elsewhere? How should I spin my time in the capital markets origination teams to sound most like IB-esque deal work?
Also what would my strategy be here? When would I apply? At the start of the grad programme or after two years into a job? Would off-cycle positions be worth applying to?
Thank you very much in advance!
Would start applying NOW. Will not be easier to tell them the bad news when you're 6 months in, nor will you have time to interview. You can always try to switch interally if plan A does not work out.
thank you for your reply.
Don't you think that I'd have a better CV after working in Capital Markets albeit for a little while? Currently, I don't have any direct investment banking experience on my CV. I did my summer internship at the same bank at which I am due to start & it was in FX Sales & Rates Trading. So I don't really have a leg to stand on right now for the Why IB? question, or indeed any motivation-related question haha.
What do you think?
I'm in the same boat as you but I already started my CM programme. In DCM you'll work a lot on pitchbooks and you'll be a part of the DD process so make your resume reflect that as you'll be doing that in M&A as well. You won't use Excel that much though or do any modeling, so try other ways to show that you can do that part too (online courses, college classes, etc.) Finally, I'd say meet the M&A teams from your bank and try to build a relationship with them. That's what I'm working on right now and I believe it's the easiet path from DCM to M&A. Also, don't rule out DCM as a career just yet cause you might like it a lot more than you'd think.
ah right thank you mate! Very helpful tips!
Would you think that moving within the bank is the best bet? Or applying elsewhere?
Thanks again!
Yeah, definitively. You should also apply to other banks though, and I would also recommend applying to other divisions like FIG Coverage and Lev Fin as they also have good placement in PE.
I would say to think about it because it really depends what you want to do long-term. Some of the best opportunities are mostly only available to those in DCM/Lev Finance such as distressed debt hedge funds or large credit funds like Bain Capital.
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