Is it Possible to Lateral Back into IB?
Left IB after 1.5 years for a pretty interesting corporate role. It has been alright but I've been missing the fast-pace style and camraderie of a banking team compared to my now corporate structure and after having a break from that IB lifestyle which was slightly burning me out, I've come to appreciate the learning opportunity and growth I'd still have left to develop with more time. Took the opportunity to switch as it was really the only path I saw myself doing (wasn't interested in PE or other buyside) in the 1-2 year timeframe but recently have been thinking of going back to banking for a bit of a longer timeframe like through mid-associate at least instead. Would it be possible to lateral back into banking at the An2 level given I have the experience or is it impossible now given that I'm no longer in the industry? Would it be possible by mostly by going downstream? Was previously at a good name brand boutique. Also not super desperate to jump and know the market is garbage right now but just wondering more generally.
Yes it’s possible. You have the requisite skills. Just get talking to recruiters and make sure you have a good story of why you left and why you are coming back.
We’re all human and will take winding paths - nothing is as linear as WSO forums probably make out.
You’ll be fine, good luck.
Thanks - appreciate the input. For banking lateral recruiting, are third-party recruiters used a lot or is it recruiters employed by the bank? It seems like BBs have their own recruiting and then middle markets and boutiques will use third parties.
OHHHH marone already with the job hopping, huh? Kid gets one new job and thinks he's the hottest salami gabagool in the finance jungle. Manga with the god damn work product already Debby, he says, he says to his coworkers "Hey kid, I used to be a hot salami gabagool in the world of banking. So I tells ye' meself, this is unacceptable. Back with my hot salami gabagool banking friends in the hot salami gabagool banking industry, I used to turn around these analysis five times a week! OHHHH MARONE!"
I’m leaving IB after 2 years for a interesting corp role myself - curious why the corp role is not working out for you? Progression-related?
On your main question I’d say it’s def possible, seen plenty of these boomerangs but puzzles me why they do so. Depending on how long you’ve been in corp I might ask for more than AN2 though - maybe a guaranteed promotion timeline.
Hey, yeah I never would've expected to ever want to go back when I left. I think after only being exposed to financial services through my first job and all my internships, corporate is just really slow both day-to-day and progression wise. I had some terrible times in IB, but overall there is a lot of learning opportunity and development potential. I lost sight of that for a while but I think having the perspective of what the other side is like would keep me motivated and disciplined longer in IB this time around. I just thought An2 would be fair given thats where I left off and anything higher (starting as an associate?) seems unconvincing even to me.
I don’t think it would be hard to go back, Banks always looking for people with experience. We used to hire lots of corp dev people coming back. Think you should shoot for associate tho. I left banking after 1.5 years as well, and would only go back to associate, analyst is just too much of a grind. Also your additional experience should count, maybe a bit discounted but still worth something.
Appreciate the response. My thinking was that going IB -> corporate -> IB is already a red flag / uphill battle compared to most other applicants that would be directly lateraling from another bank and also given the current market, the very few spots available would have applicants that meet all the requirements perfectly. Willing to wait it out for better market conditions but unsure if its unrealistic to at least hope for a similar tier bank at some point.
For the current environment you might be right, but if you wait a little I think you should be fine. Obviously post-covid hiring was extreme but my bank hired anyone with a pulse, and if you had any experience even better. I think it also depends what you want, MM probably easier to get associate while BB or EB is analyst.
del
I don't understand why people keep asking questions starting with "Is it possible..." or "Can I..." I've never seen someone get a negative answer to this type of question.
Everything is doable as long as you do your research and put in the effort. So why limit yourself to what someone around here may tell you? If you believe you can, you'll find out how to do it.
55 years old, worked 35 yrs in waste management, is it possible for me to lateral to IB?
You're right - I guess a better question would've been asking for people's personal experience that wanted to and went through the process. If anyone can personally speak to their experience doing so, much appreciated.
For what it’s worth - am in the exact same boat. Left banking after 1.5 yrs for an interesting corporate role and am finding myself wanting to get back to the sellside as well (been in current role for a year now). Good to know I’m not the only one! FWIW I have had some decent luck getting in with recruiters so far (although do have some M&A / minority investment experience in my current corp role) but still early in the search. Am def going to be shooting for associate (you should too). Best of luck and glad to know I’m not the only one who’s thinking about this.
Thanks! Were you able to make any progress? Market seemed generally very slow so have been sitting on the sidelines for now.
Bump
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