How hard is it to change IB specialism?
I was wondering how hard it is to change sector specialisms in IB? I studied a life science at university and am doing an internship at a VC firm specialising in Biotech. Although IB is my main focus no matter the niche I would prefer to work for a firm that specialises in things I am interested in such as luxury good (high fashion), video games/films or even automotive industry. Any advice or help would be appreciated.
It's easier than you might think. Regardless of industry focus, 90%+ of the work that you do in IB is probably the exact same. Junior level bankers (analysts and arguably associates) can switch between coverage areas pretty easily without needing to re-learn much. The more senior you get though, the more difficult this transition becomes since your value-add as a banker is your base of industry knowledge and relationships.
I started in life sciences IB and transitioned into a totally different industry group, it was honestly easier than I expected. As somebody who now recruits lateral analyst and associate hires, I'm way more focused on candidates' depth of transaction experience and know-how than their relevant industry knowledge.
Thanks a lot, that’s great to hear. I will focus on doing well at my job for now but in a year or two I think I will look at switching to a niche that I find more interesting.
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