Coverage group to a Product group at a BB.
Have an offer for summer with a coverage group (FIG/RE) at a BB in London. Does anyone have any advice on how to convert my offer for a FT role in LevFin/M&A?
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Focus on getting a return offer first.
This upcoming year might be rough as far as hiring. Word spreads quick and if there are a limited number of spots, the first to go will be those who have prioritized other groups.
Whatever your long-term goals, you're much better off if you have a banking offer, even if it's not in your top choice group vs. no offer at all. If you're deadset on moving to M&A, talk to other banks ahead of the end of the summer. Wait to talk to your bank until you have a return offer in hand, then bring it up.
Around midway during the summer, start going for coffee chats with the guys in the team that you want to move to - analysts / associates to get a better understanding of the work and the seniors to learn more about the business. During this process, mention to their staffer that you're interested in their work / team (but don't outright say that you want to move teams as this will be very much frowned upon if word gets back to your current team).
If they end up having spare headcount (their interns weren't great or didn't choose to takeup the return offer), you'll then be first in line to be considered for the position.
Why would you want to switch from coverage to product?
There is plenty of threads on the subject, and if you did an internship (leading you to become an Incoming Analyst), then you can probably compare the two and come up with reasons.
I will let OP speak for him/herself, but RE/FIG is very niche coverage groups where you learn specifics which might get you “pigeonholed”
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