say you apply for an IB analyst position, then you come short of "wowing" the interviewer. If the interviewer finds you qualified for other positions, say Finance analyst, what is the chance that he/she suggests you to take the Finance position ??
or basically, either you get what you apply for or you are screwed ??
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I think this is very likely. Unless you're being interviewed by HR, the person doing the interviewing is not very "qualified" to determine whether or not you're a good fit for another division or position. Even if they did decide you'd be good for another position, what are they supposed to do? Call up their buddy and be like: "Hey, this guy isn't good enough for us, but he'd be perfect for you!" It doesn't sound very plausible. On the other hand, if you are being interviewed by HR, odds are you are only being asked "fit" questions and the person has to decide whether they like you or not. If the answer is yes, you keep going. If the answer is no, they aren't going to move you to a different division, you're going to get dinged.
Now, I'm sure it has happened before, but I doubt it is with enough frequency that it is something you can expect or rely on.
Note: This is all speculation.
Well, personally I never actually interviewed with HR folks, only bankers. Agree with CompBanker, the people you'll interview with will not be looking to fit you into the firm somehow someway; the whole point is for you to convince them you're right for the position, not right for the company in general.
If you really want to hedge your bet, apply for all the positions. You'll look like hell if you apply for too many within the same company, but typically banks will allow you to choose several divisions on their online apps.
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