Was wondering if anyone could add any insight on how to do this without burning any bridges.
Examples
Moving from SA at BB in NYC to FT in Chicago Moving from analyst in LA at CS to associate in NYC. etc.
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Moving cities from SA to FT can be difficult. Lots of firms may not permit it and may force you to go through interviews again if they do.
However, lots of analysts move from city to city. Usually it occurs at the end of a contract period, for example, moving after your second year in IB. If it seems you are going to be promoted to third year or associate (i.e. they told you that), tell them you're very excited about the opportunity, then transition into saying your family/GF/XYZ reason you would like to be in the other city and wanted to see you could explore that possibility.
Thanks!
Yeah at my firm there are only a couple special exceptions for why somebody would be allowed to move cities from SA to FT. I know some analysts have received offers at different firms for the city they want to be in after a year or so FT and say look, I want to stay with the firm and work in x city, but if I can't I'm going to accept the offer with [other firm] in x instead.
Though that method might not be best for maintaining relationships if things don't work out.
Interesting. I'm pretty good friends with someone who went from SA at a BB that everyone on this board shits on to getting hired ft at GS/MS. I just wondered what it would be like to move cities within the same company. Other quick question: Is ibd in Non-NYC significantly less available?
Yes, significantly less available. There will probably be more analysts in NYC at one BB bank than there are in other cities across all banks, not to mention just about every bank has a presence in NYC but a lot of them do not have offices in other large American cities (and sometimes have tiny offices). Regional offices also tend to recruit more regionally - Houston focuses on southern schools, Chicago is dominated by the Big Ten, LA/SF is filled with guys who went to west coast colleges, etc.
How to handle internal transfer? (Originally Posted: 08/31/2013)
Hi guys, I have recently joined a regional bank as a treasury risk analyst. The role is not bad, great exposure to treasury trading and looking at capital funding, but i found myself too distant from the trading side of things. Recently I have found a trader vacancy coming up on the internal job board. They are open to consider candidates with less experience so i think im ok. But since i have only been with the team for 3 months im not sure whether its too early to jump now. I really dnt wanna burn the bridge as a result. Does anyone have any advice on how i should handle this with my manager?
Also I have set up an informational call with the head of the department to obtain more information. What advice do you guys have on what i should prepare for the day?
Any comment welcome, thanks for all your help.
Don't worry about your current boss if you get the job you like. Does your boss care about burning a bridge with you by keeping you at a job you don't want? Just be careful about stepping on toes until you get the job, if you don't get it you don't want your current boss to have you and make your life miserable
Treasury trading is a really kushy gig- low stress (relative to other trading jobs) and the guys I met seemed to really enjoy it.
These spots don't open up often, so it's worth swinging for but most firms have restrictions on your tenure before switching.
I have this really nice guy in BO who got offered a trader's assistant seat in a different product. He turned it down because he had told his boss he was committed to her team. That was over a year ago. He's still in BO.
Hi thanks for all your advice. I do agree that this is a very rare opportunity and that i should really give it a go. Do you guys think i should inform my manager before the informational call? Maybe i am a little conservative, but surely a treasury trading role will attract a lot of competition so im prepared to accept that i will remain in my current team for a while if i dnt get it this time. Therefore, I'd really like to handle it professionally. Or is that not how it works these days?
Switching office possibility (Originally Posted: 04/26/2012)
Hi All,
I am wondering about the possibilities and potential advantages/disadvantages of switching offices after 6-12 months. I will start off in the Northeast at a good firm, but say I get really interested in Energy projects, would switching offices to say Dallas/Houston be a possibility to increase my chances of getting onto these projects?
What are the potential disadvantages? Having to build up relationships with partners all over (for recommendation purposes) in the new office?
Is this a normal thing? I guess policies might be different at different firms.
I don't think you necessarily need to be in a specific office to do certain projects - but this varies by firm. It might be tough to get that initial energy project if you're in an office that doesn't do much work in the space, but once you get one be sure to knock if out of the park / develop relationships with the partners and you can generate pull from that group. And to get the first project, make sure your staffer / mentors know your areas of interest, they can help.
At my firm, office transfers are not as easy as they should be. Each office is its own fiefdom, with different cultures / personalities, and the office you want to transfer TO typically has to agree to take you (I've even heard of them interviewing people). I know a couple of guys who moved away from the Midwest (where I'm located), but decided to stay a part of our office because they weren't a fan of the culture at the offices in the areas they moved to. So they just flew in for big events, reviews, etc.
Main disadvantage is the one you pointed out - having to rebuild relationships, reputation, etc. Also, you might not be a fan of the new office's culture.
Moving Offices (Originally Posted: 06/22/2015)
Hey all, just wondering if anyone who has switched offices within the same bank could share some insights on their process, how they brought it up, logistics etc. I am content with my current role and group but think for my own personal reasons/growth I need to live in a new city.
Just looking to hear some different experiences and any advice.
I have some personal experience. PM me if interested.
Also interested in hearing about this
Changing job locations (Originally Posted: 01/08/2014)
Hey out of curiosity, are employees at different investment banks able to move to different locations and if so, what is the best way to do it. For example, if a person was working in San Francisco but wanted to move to their company's New York Office after a certain number of years, is it likely it can be done?
i've heard that it's really easy to do the opposite, if you have a need based on your work unsure about your question in specific, but i'd imagine it isn't easy, since there'd be high demand
In my experience in banking at a BB, it was pretty straightforward. Are you going to be an analyst? Banks love keeping their talent around and at the end of your first year you'll have a meeting with HR about how you like your current role and what your thinking of doing after your two year analyst gig in your current group. You're pretty much given the option to rotate into any group you want to try (assuming you had good employee reviews). It's very common to lateral into a different group, different division, or different location.
NYC -> anywhere else is easier
Changing Home Offices (Originally Posted: 07/08/2012)
Got an interview coming up for a mid-tier consulting firm (think IBM, Accenture), it's for an office that I wouldn't mind being in for a couple of years but would eventually want to move back to my hometown (a major city, so not some regional office). What are the chances of doing this within the company, or would I have to look outside the company for opportunities?
Bump
Most companies offer permanent transfer opportunities but they usually make it sound a lot simpler than it really is. It's definately possible but requires some networking - best way is to get staffed on project with your target office to prove you're a capable employee and develop a relationship with senior people. Without it your chances are slim. On the positive side: as far as I know, 90% of people who were very serious about the transfer (including me) made it eventually. Those who only saw it as an "interesting, fun opportunity" gave up during the process.
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