Hi all,
I was recently extended a two year offer at a firm that houses CB in IB as a sophomore for 2020 and 2021. I don’t want to be pigeonholed in CB full time and have no exits for buy side. Once I get a feel for CB and how it is, should I try to lateral to IB in the firm for next summer? Not sure if CB will allow me to get into credit firms. Also considering applying for full time next year but I realize it’s tougher given most firms are picking primarily from their intern classes. Thoughts? Thanks!
I have seen that happening at Citi, no idea of other banks doing that in London
I have seen this happen at Citi in the US as well. The person was a top performer and networked well with IB groups over the summer. Have not seen this happen at other banks from my experience
In London it was quite informal, as long as I have been told, just one coffe chat and showed he could nail the technicals and understand the industry he was covering at CB. Then he converted his SA into a IB FT. In any case, dont know that guy so there may be something missing
I have seen it happen at all of the big four American banks this past cycle, including the spot I left open at my SA firm.
Would you recommend the move?
I am not sure. I didn’t no CB at all (a CB intern took my IB FT spot). I am happy with my experience with IB if that helps - I have learned a lot.
very easy to do at a top BB
Definitely possible at my BB.
Have seen this happen at a BB in London: CB intern -> IB FT and also CB FT -> IB FT
(although the longer you leave it, the harder it becomes)
What steps should I take to convert?
Be a top analyst and network heavily with people within the IB. Speak to HR and see if there is a structured process for switching, and find out whether you can simply start as an analyst in the IB or whether you'll need to go through a formal process including interviews etc. Make sure not to do this too early, as it will look like you haven't given CB a shot, and make sure you are still putting 100% into your work in the CB.
If you can, try and get placed in a CB team that does similar work to the IB, such as debt finance, structuring, modelling etc.
I can vouch that I know people personally that have done this at citi nyc office. Could try to connect u with them if u want to pm me.
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