Joining IB at VP — advice?

Jumping into a VP role in investment banking from a buy-side background is a bold move, and while it comes with challenges, it’s absolutely doable with the right mindset and preparation. Based on the most helpful WSO content, here’s what you need to know:

Key Focus Areas for Your Transition:

1. Leverage Your Buy-Side Experience:

   • Don’t underestimate the value of your buy-side perspective. Many laterals make the mistake of thinking their prior experience isn’t relevant. Highlight your understanding of how clients think, your ability to evaluate deals, and your familiarity with advisory processes. This can set you apart and help you build credibility quickly.

2. Master the VP Balancing Act:

   • The VP role is often described as the toughest level in banking. You’re expected to:
     • Mentor and coach juniors: Be approachable and guide analysts/associates effectively.
     • Multitask and originate: Balance execution with starting to think about sourcing opportunities.
     • Build client relationships: Start developing rapport with clients and counterparties.
     • Create content and exercise judgment: Ensure deliverables are polished and strategically aligned.

3. Adapt to the Execution Cadence:

   • The pace and intensity of live processes in banking can be a shock. Be prepared for tight deadlines, constant iterations, and managing multiple stakeholders. Stay organized and proactive in anticipating what’s needed next.

4. Internal Communication and Managing Up:

   • Learn how your MDs and senior team members like to operate. Keep them informed without overloading them, and always come prepared with solutions, not just problems. Building trust with seniors is critical.

5. Build Relationships Internally and Externally:

   • Internally: Get to know your team, especially juniors who will rely on you for guidance. Show that you’re invested in their development.
   • Externally: Use your buy-side network to add value. For example, when speaking with principals or counterparties, suggest follow-ups like, “We have other opportunities coming to market; let’s discuss areas your fund is interested in.”

First 30–90 Days: Practical Steps

1. Understand the Team and Processes:

   • Spend time learning how your team operates, the bank’s processes, and the nuances of your coverage area. Ask questions and observe how things are done.

2. Focus on Execution Excellence:

   • Nail the basics: Ensure deliverables are error-free, client-ready, and aligned with the MD’s vision. This will build trust and credibility.

3. Develop Judgment:

   • Start forming your own views on deals and processes. VPs are expected to add strategic value, not just execute orders.

4. Be Proactive in Adding Value:

   • Look for ways to contribute beyond your immediate tasks. For example, suggest improvements to pitch materials or identify potential deal opportunities.

5. Avoid Common Pitfalls:

   • Don’t micromanage juniors; trust them to do their work while providing guidance.
   • Avoid overpromising to clients or seniors—underpromise and overdeliver.
   • Be mindful of the cultural shift from buy-side to sell-side. The client-first mentality in banking can feel different from the more analytical focus of private markets.

Long-Term Success:

• Start transitioning from a pure execution role to a relationship-building and sales-oriented mindset. This is crucial for progressing beyond VP.
• Use your VP years to prepare for the Director/MD level by developing your network, sourcing skills, and big-picture thinking.

Good luck with the transition! With your buy-side experience and a thoughtful approach, you’re well-positioned to succeed.

Sources: New VP struggles - asking seasoned VPs for help, corporate development regrets?, Am I missing something about buyside exits?, What's Your Five Year (IBD) Plan? A VP Reflects and Looks Forward., Q&A: Vice President - European BB Investment Banking (Industrials)