From Associate DCM to M&A/Coverage Analyst - Crazy?
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From DCM to M&A (Originally Posted: 04/25/2007)
Hi there,
I would like to know if it is possible to move from DCM to M&A after the analyst cycle. Let's say a DCM banker is specialised in FIG for instance, does he have a chance to move to IBD FIG at the associate level?
Thanks for your answer in advance.
T
From Corporate DCM you don't really stand a chance. The skill set is very different. In M&A you'll be modelling accounts and forecasts, understanding sector dynamics and strategies. In DCM it's more abut understanding the impact of macroeconomics on capital markets, with little to no modelling.
I have no direct FIG experience, but although FIG DCM is more technical than corporate DCM I'd imagine you'd also have a tough time switching.
That said, in any case if you perform well an MBA should make it possible.
Thanks for your answer. This is the answer I was expecting. I would like to work in London (I am a EU resident) where the MBA is not really the norm. However, there are "Summer associate internships" just like "summer analyst internships". Does anyone know if it is possible, at the end of the analyst cycle, to apply for a summer associate position without doing an MBA?
Thanks in advance
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