Hard to Lateral Into FIG?

Based on the most helpful WSO content, here are some insights regarding lateraling into FIG (Financial Institutions Group) from a different industry:

1. Feasibility of Lateraling:

   • It is possible to lateral into FIG from another industry, but it may come with challenges due to the specialized nature of FIG. FIG focuses on financial institutions like banks, insurance companies, and asset managers, which require a different set of skills and knowledge compared to tech groups.

2. Timing and Strategy:

   • If you decide to take the full-time offer in the tech group, it is advisable to stay at least six months to a year before attempting to lateral. This duration helps in building credibility and showing commitment to your current role.
   • When lateraling, be prepared to explain your interest in FIG and how your skills from the tech group can be transferable to FIG.

3. Industry Perception:

   • Recruiters and interviewers may view you as a tech person initially, so you will need to make a strong case for your interest and capability in FIG. Highlight any relevant coursework, certifications, or projects that demonstrate your understanding of the financial sector.

4. Exit Opportunities:

   • FIG can offer robust exit opportunities, including roles in private equity, hedge funds, or industry-specific positions within financial institutions. However, being labeled as a FIG specialist can sometimes pigeonhole you, so consider your long-term career goals.

5. Networking and Preparation:

   • Networking within the FIG community and seeking informational interviews can provide valuable insights and potentially open doors for lateral moves.
   • Prepare thoroughly for interviews by understanding FIG-specific financial models, regulatory environments, and key industry trends.

In summary, while lateraling into FIG from a tech group is doable, it requires strategic planning, networking, and a clear demonstration of your interest and relevant skills.

Sources: Why Should I Work in FIG Investment Banking?, Why Should I Work in FIG Investment Banking?, Lateraling Guide for Investment Banking, Working in FIG (Financial Institutions Group) - An Overview., Working in FIG (Financial Institutions Group) - An Overview.