Has anyone made the jump from IB to (Tech/Software) Sales?

What was the process like? Are you happy with your decision? Any tips or recommendations in terms of preparation for interviews and the job itself?

Interested in all types of experiences or even takes on (product) sales as a more unconventional exit opportunity for banking.

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I'm only an intern, so take this stuff with a grain of salt. But I'm passionate about the industry and have done a fair bit of research (I'm the WSO equivalent of the monkey who knows everything surface-level about the industry before they reach puberty), so here are some of the resources I've found pretty helpful, along with some comments about your situation.

  • The sales subreddit is a gold mine of info, esp for interview prep. Looks pretty barren at first, but all you have to do is search "[sales-thing] reddit sales," and it'll yield good results (ex: "getting into tech sales," "reddit sales interview," "sales career progression"). You could also post there and probably get some great insights. Hell, you might even get some folks reaching out for interviews.
  • The best places to start are typically top tech companies, but it's not nearly as uniform as IB.
  • I imagine you'd have good success making the transition. As long as you've got the communication part down, I bet recruiters would love you. Sales is a grind, and a background in IB proves you have what it takes.
  • Your first job in sales you'll likely be cold calling and cold emailing all day. 
  • I've had great results closing interviews with "Do you have any reservations about moving forward with me?" and "What do next steps look like in this process?" It's an interview for a sales position, so you better try to close the deal in some fashion. That doesn't mean go for the job on the spot, but you need to show that you're capable of being a little bit aggressive.
  • In interviews, you're prospecting them just as much as they're prospecting you. There are plenty of shit sales positions out there, so you need to make sure it's a decent gig. Google "reddit sales interview questions to ask." 
  • First couple of years you'll be making way less than you did in IB. But once you make it account executive the sky is the limit and you set your own terms, no 80-hr work weeks. 

Sales is about shooting your shot. Put your resume in some bins, DM some recruiters, and keep on keeping. I was stalking some people on LinkedIn the other day, and noticed that some of the folks in business development at Palantir came from IB/consulting backgrounds. Worth looking into. Also happens that they have an opening for business development in NY. Also happens that they pay well.

 

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