Hello everyone, I am a new user here and looking for advice on how to make the move from credit risk to investment banking. I currently work at a top BB and have been here almost a year. I would like to move to pretty much any IB job (excluding small boutiques) if possible and need some advice. My BB does not have a culture of internal transfers happening often so I know I would likely have to move to another bank and start over as a first year analyst. Any advice you guys have about making the transition/lateral to IB will be greatly appreciated.
A bit about me: - 3.8 GPA - URM if that matters haha - Non-target UG - Currently work at a MS/GS/JPM in credit risk
Thanks, Mr. Rogers
I have a feeling this might be Goldman.
Usually people in credit risk have met/dealt with some of the MDs in their industry/asset class. Are there any that you have some sort of relationship with that you can reach out to and chat with? Having a good reputation and being liked by the MD will help. In the call with the MD, explain to him/her in simple terms what you are looking for,why you want to switch, and how would they recommend going about switching.
Networking and being likeable will be key, so that when spots open up, and spots will definitely open up, they will consider you. You also want to keep in mind the culture of your current team. Do you work with asshole managers who would sink your career if they found out you wanted to be in IB? If so, keep your plans to yourself until an interview is guaranteed. Then explain to your manager your plans and your motivation for it (be very careful how you word things).
At my bank, MDs are pretty difficult to get on the phone here but I know a few well. To answer your second question, I don't think they will go out of their way to sabotage my chances of moving internally, it's more of the fact that IB here is super competitive and generally doesn't happen for anyone due to lack of openings.
Your best shot might be an EB. You might be able to leverage your BB brand name right now and move to somewhere slightly smaller. I would also suggest moving to LevFin or DCM given that you work in credit. Though I would recommend that you focus on networking, whether it involves your undergrad or other people who transferred from MO to FO because it will make your situation a lot easier. Keep in mind, "starting over" isn't as easy as it sounds because most banks are focused on recruiting analysts straight out of college.
Understood. I agree that levfin, dcm or the industry I currently cover will probably be the best fit.
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There are some great WSO podcasts on this. The one I listened to was about someone who broke into the front office at RBC
Link?
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