Is too early to comr back? - London IB
Hi Guys,
I was laid-off around end of 2023, after 18months in IB at a BB. I struggled to find a job for the first few months and decided to complete my training program that was previously outstanding to get my registration (think LPC for lawyers, Foundation year for doctors, or Pre-registration for optimetrics and pharmacists) which would last for one year.
Towards the end of my program (after 1 year), I found a job in Corp Dev at a FTSE100, the hours are very light and there is much more responsability, i,e holding the pen on the model etc, but dont feel like I am reallly learning and want to go back to IB ( also because of money and career progression).
I have only been at the firm for ~3.5 months and was going to wait until January 26, around the 6month mark to start applying
1- I was wondering if applying after 6 month in my case, is too early and I should wait more
2- Also it seems like hiring is picking back-up in London and I am tempted to send an application now (3.5 month mark) but not sure how bankers and HH may receive this.
The key reason why I am in hurry is to not get used to the corp dev lifestyle, also to reduce the amount of years I woul lose after an eventual move back.
3- All in all, what is the best time to try for lateral for someone in my case?
Based on the most helpful WSO content, here’s what you need to know:
Timing for Lateral Moves:
Applying after 6 months in your current role is generally considered reasonable, especially if you can articulate a clear and compelling reason for the move. Bankers and headhunters are accustomed to seeing candidates who want to return to IB after a short stint elsewhere, particularly if the candidate has prior IB experience. However, applying at the 3.5-month mark might raise questions about your commitment to your current role and whether you’ve given it enough time to assess its potential.
Hiring Trends in London:
If hiring is indeed picking up in London, it could be worth starting to network and have exploratory conversations with headhunters now. This doesn’t necessarily mean submitting applications immediately but rather positioning yourself for when the right opportunities arise. Timing is crucial, and being proactive without appearing desperate is key.
Best Time to Lateral Back:
The general consensus from WSO threads is that the 6-month mark is a safer bet for applying, as it shows you’ve given your current role a fair chance. However, if you feel strongly about moving sooner, ensure you have a solid narrative to explain your decision. Highlight your desire for more technical learning, career progression, and the faster-paced environment of IB, while framing your current role as a stepping stone rather than a misstep.
Reducing Lost Time:
Your concern about minimizing lost time is valid. The longer you stay in Corp Dev, the harder it may become to transition back to IB, as your experience will start to diverge from the typical IB skill set. If you’re confident in your decision to return to IB, starting the process at 6 months strikes a good balance between showing commitment to your current role and not waiting too long.
Suggested Approach:
Remember, the key is to present your move as a strategic decision rather than a reactionary one. Good luck!
Sources: Re-Doing 2 YR IB Analyst Stint, International Student - Chance of getting an IBD internship in London?, 9 months off work before next gig - best use of time?, Quit IB after a month, Lateraling Guide for Investment Banking
Bump,
Imo you should be able to apply now already - shouldn't be that difficult to get back in
Dude has been out of IB for nearly 2 years, it will be difficult to get back in
Can be, if he has the luck of a good deal environment and it is not like corp dev is completly unrelated lol
Nah - I've seen plenty of people come back even after 2+ years. Banks are always looking for people with experience, and as the other guy said, corp dev isn't really unrelated
Enim non ratione quae saepe. Vitae tenetur provident est dolores iure tempora est.
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...