Currently in NYC for commercial banking / mid market banking internship. Basically just working with RM’s and taking notes during calls with limited technical work.
Anyone ever make this transition from internship to full time IB dcm / levfin?
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Based on the most helpful WSO content, transitioning from a Commercial Banking (CB) or Mid-Market Banking internship to a full-time role in Investment Banking (IB), particularly in DCM or LevFin, is possible but requires strategic effort. Here are some key steps and considerations:
Skill Development:
Since your current role involves limited technical work, it's crucial to build your technical skills independently. Focus on financial modeling, valuation techniques, and understanding credit markets. WSO offers resources like financial modeling templates and bootcamps that can help you get up to speed.
Networking:
Networking is critical for breaking into IB. Leverage your time in NYC to connect with professionals in DCM and LevFin. Reach out to alumni, attend industry events, and schedule informational interviews. Highlight your interest in transitioning and your proactive efforts to develop relevant skills.
Positioning Your Experience:
While your current role may not involve heavy technical work, emphasize transferable skills like client interaction, understanding of credit, and exposure to deal processes. Tailor your resume to showcase these aspects and align them with the requirements of DCM or LevFin roles.
Targeting the Right Opportunities:
Focus on firms or groups that value credit experience, as your background in commercial banking can be an asset. DCM and LevFin teams often appreciate candidates with a strong understanding of credit and lending.
Timing and Recruiting:
Full-time recruiting for IB can be competitive, especially if you're not coming from a traditional IB internship. Start early, and be prepared for a rigorous process. Use resources like the WSO guide for full-time recruiting to understand timelines and best practices.
Additional Training:
Consider enrolling in specialized courses or certifications to strengthen your technical foundation. For example, WSO's Investment Banking Interview Prep or Private Equity Interview Prep courses can provide valuable insights and practice.
By focusing on these areas, you can position yourself as a strong candidate for a transition into IB DCM or LevFin.
Sources: Going from IB to ECM or DCM? Anyone made this move?, Guide for Investment Banking Full-Time Recruiting, Full-time non-SA IB recruiting timeline? Summer 2020 PE Internship → Investment Banking Analyst, ECM/DCM for Career Banking, A Guide for Switching From Commercial Banking to Investment Banking
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Yes, have seen it several times. Biggest challenge is in finding an opening which is always the case with FT recruiting. Easier to do if transitioning after a couple years if you end up taking CB, but should definitely put your best foot forward and apply at a few different banks and network.
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