How to go from DCM internship to coverage FT at the same or different bank?

Pretty much title. Will be doing a DCM internship at a well known bank (non BB). Didn’t want DCM throughout the placement process but ended up getting it. What would be the best approach to lateral to a good coverage group within the same bank or even to a BB? Any help would be great.

5 Comments
 
Most Helpful

#1 priority is getting a return offer. From now until the end of your internship you are super interested in DCM. It’s going to be incredibly hard without a return offer.

You need to think long and hard why you didn’t get into a group you wanted. Did you not talk to enough people? Did you come off uninterested? Do you come off the wrong way?

If your firm gives out generalist return offers, it will be much much easier to switch. If you have a “mentor” (firm assigned or not, ask them if they can introduce you to people). Then express interest and keep in touch. Then when group placement happens again you’ll be in a good position.

fwiw I got placed into a group I didn’t really want for my internship and ended up loving the team and work. 

 

1) Get the return offer

2) Start in DCM and learn the biz

3) Figure out which team you want to lateral to - focus on those clients from a DCM perspective

4) Build a rapport with the bankers on that team

5) Apply for the lateral move and leverage your knowledge of the sector, clients and debt financing

 

Quos sit aliquam quis voluptates a. Ducimus veniam distinctio dolor tempore deserunt totam est. Totam ea sed ut nesciunt nam ea aut.

Array

Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

November 2026 Investment Banking

  • Vice President (17) $409
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (29) $183
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (77) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
kanon's picture
kanon
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
GameTheory's picture
GameTheory
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
CompBanker's picture
CompBanker
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”