IBD Group Mobility
How easy is it to move within the same bank after your summer internship from:
-coverage group to coverage group -coverage group to product/finance group -IBD to S&T
I think it largely depends on the banks openings at the time and the relativity of your current group (e.g. DCM to LevFIn), but could be wrong. How do you approach your MD and HR if you plan on doing this? Assuming you're a great performer in your current role.
Please share your success stories!
Not a great move as a summer, really bad one as an FT. If you were good, you'll piss off the group you leave, and it creates internal strife between group heads. They don't like that. If you want to do M&A instead of TMT, etc., go to another firm.
*I am answering this as if you are a junior year intern moving into full time.
First off it depends on your bank. Most BBs have a "mobility program" that will pop up 2/3rds the way through the summer. They will send you an email essentially asking if you are interested in pursuing a change in division or within the division (ie coverage group swap). A lot of this will depend on offer rates at your firm as well... if there are a lot of kids getting cut in the group you want to go into there is basically no shot that you'll be able to mobility your way in there...
Coverage group to coverage group - you'll need to form some relationships with people in that group so that someone will be able to pull for you in that process.
Coverage group to product group - same as above.
IBD to S&T - some banks such as Citi will leave room to hire more analysts at the full time level as they have a seat for each intern and some will get cut. So in that situation you would have a greater chance of being able to move into S&T. At some banks tho they hire way more S&T kids than they need and therefore your odds of being able to mobility in is on the low side unless you really push for it and make some good connections.
I agree that it is easy to move to another firm (that's what I did when trying to push between S&T and IBD). But doesn't hurt to throw your hat into the mobility ring - don't approach your MD. You can approach your staffer... but it is on the riskier side. You should be very careful with who you disclose your plans to. Play it close to the vest until your sure you want to move somewhere else but keep in mind that when you put in an application for mobility they will ask your supervisor (staffer probably) for a recommendation. So you should let them know eventually.
Very insightful! Thx, SB'd
Fugiat ut suscipit tenetur reiciendis dolor. Unde quam debitis similique. Cupiditate iure vel cupiditate mollitia repellendus. Est placeat ipsum animi accusantium et nostrum aut neque. Explicabo at est consequatur magni praesentium dolorum. Autem necessitatibus ea inventore veritatis non ut. Illum et amet iste quia.
Aut minima qui labore vel iste suscipit ut. Voluptates nemo hic non rerum est dignissimos et. Recusandae animi nisi vel autem velit. Maxime dolores et odit et incidunt autem.
Eaque veritatis ut in iure consequatur. A nihil assumenda corporis impedit dolore totam non.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...