Move from ECM to coverage / M&A
Anyone have any experience with switching from ECM to coverage group? Going into my A3 / ASO year in ECM and want to make the move over to coverage for some better exit ops. Been working on my modeling using WSP and studying technicals. I think my MD and team will be supportive in my decision to try to move. Has anyone seen or experienced this move? Chances I stay as a ASO / stub associate next summer when switching over? What was the process like after your team gave you the ok? Interviews just as hard as it would of been for other hires or more chill since you are internal? Any insight would be appreciated. Thank you
Bump
Interviews would probably be easier since you’re internal. If your MDs can give you a recommendation, even better. You may have to repeat your An3 year to get accustomed to the new group / work, but that may actually be a positive if you want to recruit for something, especially buyside (gives you more time before you “age out”).
Would see if your MD can make intros to your groups of choice, and then approach from there. It will be easier to get you up to speed than some MBA Associate, so you have a pretty decent shot I think.
This is great to hear. Thank you. Definitely talking to my MD after I get my bonus and see what he can do.
Bump - I want to do the same thing!
Easily doable, whether you lateral to a new firm or switch groups internally. It's always easier to switch groups internally assuming that your current team is supportive and your current MD will put in a good word for you. I don't think you'd have to repeat a year if you lateral internally; would be more likely to happen if you lateraled to a new firm entirely.
Awesome. Thank you, positive it will go well with my team so plan on bringing it up after I get my bonus and make that move
Lmao literally same.. waiting until bonus hits the bank account, giving it a few weeks till labor day, and sitting down with my MD
hi there! I am an incoming 2023 SA at a BB for ECM, and this summer I am interning at a lower MM M&A shop and starting to really like M&A. I turned down a coverage IBD role at a BB for the ECM SA role, and I am starting to think I made the wrong choice and thinking about lateraling internally because I love the bank I will be interning at next summer. I think that I will be in a similar situation as yourself, and I was wondering- how do you go about this process? I'd really love to hear any advice you or anyone else has, and please feel free to reply to comment or PM me!
Thanks!
bump bump bump
Moved from ECM to M&A after 1 year. Top bucket - supportive teams (both ECM & M&A). Internal process was super chill.
I also tried lateraling but got much more scrutiny from slightly lower tier shops (Barclays, CS, Citi, etc.). Ended up deciding sticking with original firm.
Why do you think you got more scrutiny from those firms?
The scrutiny was more in relation of being in ECM than jumping BBs - questions like "how long do you think it will take you to be comfortable with X, Y, Z coverage analysis", lots of grilling and asking to explain in-depth modelling experience that I have done or can do (either personal or from past job experiences).
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