IB to Corporate Banking
Hi all. I'm an incoming IB analyst and wondering about the feasibility of switching from the IB division to corporate banking. I'll be at a BB with a corporate banking division. I'm asking mainly in case I find the hours in IB unsustainable. Would it be feasible to switch to corporate banking after 1 year of IB, for example? Thanks.
Switching from IB to Corporate Banking (CB) is definitely feasible, especially within a BB that has both divisions. Based on the most helpful WSO content, here are some key points to consider:
Skill Transferability: Your IB experience will provide you with strong financial analysis and deal execution skills, which are highly valued in CB. This makes the transition smoother compared to moving into other areas of finance.
Timing: Making the switch after one year in IB is a reasonable timeline. By then, you'll have gained enough experience to demonstrate your capabilities while still being early enough in your career to pivot without raising concerns about commitment.
Hours and Lifestyle: CB typically offers better work-life balance compared to IB. While IB analysts often work 80-100 hours per week, CB professionals generally work around 60-65 hours, with some variability depending on the bank and deal flow.
Compensation: Be prepared for a pay cut when moving to CB. While CB compensation is competitive, it generally doesn't match the higher bonuses and total comp of IB roles.
Internal Mobility: Being at a BB with both IB and CB divisions can work to your advantage. Internal mobility programs or networking within the firm can facilitate the transition.
Long-Term Prospects: CB offers a more relationship-focused career path, with opportunities to develop expertise in credit, risk management, and client management. It can also lead to roles in corporate finance, treasury, or private banking.
If you find IB hours unsustainable, transitioning to CB is a solid option that still allows you to leverage your skills and maintain a rewarding career in finance.
Sources: Investment Banking Hours - What to Expect?, Is Corporate Banking that much worse than IB?, A Guide for Switching From Commercial Banking to Investment Banking, Not sure if Investment Banking is for me anymore, Investment Banking Analyst: A True Day in the Life
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