DCM at BB to M&A at top MM?
I am an incoming analyst a low-tier BB, but I will be working in DCM. After one year, I want to lateral to an M&A or coverage group (want PE) at another bank . I understand that lateraling to M&A/coverage at another BB will be difficult, so I am thinking to lateral to a top MM, such as HW, Baird, HL, Jefferies, Cowen, etc
Would that be a good idea? Would it be a fairly easy transition since I am moving down a tier, from a BB to a MM? Or would it still be very difficult regardless, since I am in DCM?
Any advice would be helpful, especially from anyone who has made a similar transition and lateraled to a smaller bank.
Bump
You will very easily be able to get into a coverage group at a BB. M&A is harder solely because you're aiming at 0-1 empty spots at each BB.
DCM gets shit on WSO because it's not GS TMT, but is respectably viewed as a lateral.
Awesome! So will be moving to coverage at a top MM be even easier? I don't really want to move to NYC. HW in Richmond sounds lit
No, its always easiest to move within your bank
Now you have very clear ideas and it sounds like DCM is toxic..pheraps when you start getting home by 7pm most days with almost no weekends work and you realize you get paid same as your M&A friends, you might change your mind
Now you have very clear ideas and it sounds like DCM is toxic..pheraps when you start getting home by 7pm most days with almost no weekends work and you realize you get paid same as your M&A friends, you might change your mind
bump
You will have good options either way. Dcm is a good group. Depending on what type of product you’re working with, your experience will be more or less applicable to m&a, coverage, Pe, etc. get in the seat and see what you are working on and you will know how relevant it is to what you want to do down the road. Dcm is very underrated as a career in banking
Thanks! What do you exactly mean by "the product I work on"? Are there different areas within DCM with different skillsets/exit opps?
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