Internal Transfer to Different Coverage Group . . How?
I know this question has been asked before but it would be great to get an updated thread on the topic of internal transfers between coverage groups for IB.
I joined a BB in NYC ~10 months ago and want to change coverage groups. My group has a strong reputation among our bank, which has helped me gain great experience, but I want to move into our Industrials group as it is a sector that is better aligned with my long term interests. I have a few questions and would appreciate advice from anyone who has gone through the process themselves or seen it happen firsthand:
1.) How does one begin this process? Is it through reaching out to Associates and VPs on the team and then working your way up to MD? I have always found luck in reaching out to MDs to learn from their experience so would it be better to just start at the top, or reach out to VPs who may run the hiring process?
2.) Is a job usually going to be posted online internally or are these processes launched informally when there is an additional need for a new analyst to join?
3.) Are these processes organized like a traditional interview process with a technical screen, case study, and behaviorals? Or are they more relaxed relaxed and casual?
4.) How soon is too soon? Should I wait a year and a half to make the move or is internally transferring after the one year mark seen as acceptable? Or would it be best to wait until an Associate promotion?
In my group there have been others who have switched to new teams historically, so I know they would be best to talk to about this, but am worried it might get back to my current team that I am looking to make the move elsewhere (albeit in the same bank).
Any advice from someone who has also made the switch (doesn't have to be in IBD) would be helpful. Thanks.
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