I’m a FIG analyst that recently hit the desk (mm bank). This is not the industry that I necessarily wanted, but I went to a non-target and had a lot of prior experience in the sector, so this was the best way for me to break in. The exit ops for FIG worry me a bit. Right now I’m focused on performing well while Im here. However, is FIG to industrials realistic and how long until I wait to lateral/should I network internally?
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Based on the most helpful WSO content, here are some insights and advice for transitioning from a FIG analyst role to an Industrials role:
Realism of Transitioning from FIG to Industrials:
Timing for Lateral Move:
Networking Internally:
Preparation:
Internal Mobility:
By focusing on these strategies, you can increase your chances of successfully transitioning from a FIG analyst role to an Industrials role within your firm.
Sources: Lateral Internally From S&T FT to IBD FT (BB): Tips, Story, and Advice, 10 Friendly Reminders While Networking for SA Programs (from a BB Analyst Perspective), https://www.wallstreetoasis.com/forum/investment-banking/lateral-internally-from-st-ft-to-ibd-ft-bb-tips-story-and-advice?customgpt=1, Lateraling Guide for Investment Banking, Switching from 'Industrials' to 'Restructuring'.
Bump, similar situation
If you're set on changing groups then you should lateral as soon as you can as long as you can speak to it well. Bankers should understand why you want to move out of FIG. Saw a first year I worked with leave FIG after 3-4 months because they wanted to switch groups. I would aim to lateral before your first year ends since the industry knowledge and modeling experience you get in FIG isn't too transferable outside of FIG.
If you lateral closer to the end of your first year then you might have to start out as a first year analyst again at the new group/bank if they feel like you're not ready to perform as a second year. Lateraling earlier your first year analyst stint might allow you to get the second year analyst promote without repeating a year.
Do what you want but I think the exit ops point is overblown. A bunch of the A&As on my team (FIG at BB) leave for non-FIG roles. Everything from generalist PE, startups, corp dev, HFs etc. Also, the one good thing about having specialization like FIG is if you want a buyside FIG role, the pool of competition is generally significantly smaller given most of the people seeking these roles will also be in FIG vs. all other industries. Just something to think about. You do you, good luck!
Unrelated point (I went from industrials to FIG as an analyst, its just curious seeing someone go the other way). Nothing to this point.
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