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.

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#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

 

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