credit role to IB
thoughts?
Started working recently (1week) at one of the risk departments of a bank. Accepted the offer as a backup/IB recruiting has been tough and I need something to survive. If the bank has openings in IB that i got to know of internally, and I want to make the move to IB, how do i approach the hiring teams? How do i explain the fact that I wanted IB, but ended up taking a Credit position because i needed a job, and really want to join their IB team? Should i approach HR too?
What kind of credit? IG? leveraged?
Amended. Its risk
First off, be good at your job so the bankers you work with know that you are competent and somebody who can bring value to their team (if you actually are). You have no shot if they don't respect you or have nothing nice to say when asked to vouch for you. Not to mention the seniors will want to get a positive recommendation from your managers.
Second is building relationships with your IB counterparts- obviously in this case it will be the juniors- so that you are comfortable approaching them to ask more about their role and eventually, if they know of any openings on the team. If they like you they may even recommend or connect you with their staffer.
Third is building your story. You absolutely do not say anything like "credit was a backup role / not my first choice". You cannot effectively sell negativity. It's about how you enjoy your role but as you've learned more about the bank and what the IB team does you've realized that it's of greater interest / fit for you bc of xyz and you can bring value to their team bc of abc.
Hope that helps. There's no shortcut. You gotta put in the time to learn your job and build real relationships.
know of a guy from credit risk who was close to the project finance guys and moved there. credit roles (lev fin etc.) probably more possible than M&A.
Agree with the other posters that you need to be good at your job and be well liked by the other teams/people
I moved from credit to IB. Do a good job initially and move out of risk into actual credit where you’ll get relevant experience. I’d aim to be in an industry agnostic large corporate role. Maybe even move into private credit.
You might be 3/4 years behind when you start as an analyst in IB but it’s not where you start, it’s where you finish.
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