Since the Capital Markets groups sit between the pure IB and S&T functions, does movement occur between the three, either within a firm or just exit opportunities? I understand that the skill sets differ, but every post I've seen on DCM/ECM seems to suggest that analysts in these groups have no exit opps because they don't learn the pure skill set of either IB or S&T.
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I've been an outspoken critic of CM gigs. When I've seen movement occur, it's usually from DCM - especially leveraged guys - because banking and CM are usually more close to the distribution plan (especially with syndicate products).
I think banks use the hope of transitioning into S&T to get people into CM groups. They're quick to point out that most people in CM came from banking or S&T - but you don't see many people who mad the reverse transition. CM is for bankers and traders who want less stress and less work, so if you're conditioned to that environment from the onset of your career, you're not the best candidate for S&T.
DCM to S&T - Ultimate interest (Originally Posted: 06/02/2007)
Hi, I have an internship with JPM DCM this summer, but my ultimate interest is to work in Sales and Trading. Is the switch possible/ easy? How should I go about it assuming I get the offer (keeping fingers crossed)?
I switched from interning in DCM origination to trading so it's very possible - get a recommendation from your MD then email the heads of trading desks
DCM to S&T - Is the switch possible? (Originally Posted: 06/02/2007)
Hi, I have an internship with DCM this summer, but my ultimate interest is to work in Sales and Trading. Is the switch possible/ easy? How should I go about it assuming I get the offer (keeping fingers crossed)?
How was it? at what bank?
my friend had same situation. best thing is to talk to your supervisor over the summer and if you got on good terms with them. wait til you get that offer and then ask if they'll let you move groups. my friend though had to do final interview with the s&t guys again, spares you the trouble of earlier rounds.
You won't get the offer, neither at dcm and neither at S&T...
The team will see you are not motivated, your non verbal communication , your attidude, you cannot fake being extremely happy to be in DCM.. so in the end you will end up with nothing
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