Moving to IBD...
Hey people, I'm currently doing my Analyst stint (I'm a year in) at a BB in Credit risk but I have decided that I want to move to the IBD. How common are internal moves to IBD from Credit at your banks and is it doable? I'm slightly concerned how my currrent team will take me moving and if they do dislike me for it, will it affect the reviews they would give about me to the MDs in IBD?
If anyone has done this move, please give me some advice!
Hey there! Based on the most helpful WSO content, it seems like internal moves from Credit Risk to IBD are not unheard of. It's all about how you position yourself and express your interests.
Here are a few tips that might help:
Start by building relationships with the IBD team. This could be through working on projects that involve both teams or simply reaching out to them for coffee chats.
Express your interest in IBD to your current team in a respectful and professional manner. It's important to communicate that while you value your current role and team, you believe that your skills and interests align more with IBD.
Prepare yourself for the move by brushing up on relevant skills. This could be through taking additional courses or self-study.
Finally, when it comes to reviews, most teams understand that people's interests and career goals can change. As long as you've been performing well in your current role and maintain a good relationship with your team, it should not negatively affect their reviews.
Remember, every bank and team is different, so it's important to gauge the culture and openness to internal moves at your specific bank. Good luck with your transition!
Sources: Why corporate banking instead of investment banking?, https://www.wallstreetoasis.com/forum/investment-banking/moving-from-trading-to-ibd?customgpt=1, https://www.wallstreetoasis.com/forum/investment-banking/what-percentage-of-investment-bankers-at-bb-banks-pursuing-a-career-in-ib?customgpt=1, IB Credit Risk to Buyside Debt
bump
Are you at a bank that houses CIB? Seems a bit of a jump. I would assume it would be CR —> CB —> IB as the jump to IB may be extremely hard in this environment.
Not at a bank with a CIB structure unfortunately. Agree the current environment is tough but I just wanted to get an idea of how common this type of move is.
With layoffs and attrition, now is not a good time to formally recruit. Your best bet is to go to establish a great reputation in a few groups.
How do you do this without being annoying?
In the evening, enter the IBD floor in the evening/night and volunteer your help to the analysts and associates. Do great work and have a good attitude, and you’ll be top of mind if they recruit analyst. Just be sure there is no conflict with your formal role.
I would not do this. you can’t just walk on the IBD floor and start working on confidential projects when you aren’t in that deal team, let alone division.
This is the worst advice I’ve ever heard on this website lmfaoooo, where do you people come up with this stuff?
I’ll be interning at Stifel this summer. We’re right across the street from GS. I’m hoping to make the FT jump to Goldman. Do you think it’ll be a good idea for me to go onto the IBD floor at GS during my lunch break to see if I can help out anywhere?
Or any other recommendations as to how I can get my name out there?
Exactly. I hope this is troll and hopefully no one is so naive that they think this is a good idea
Stop taking drugs man
Just try and get into the new group
Either start drinking on the job or say your staffer touched you
Best bet is probably gonna be to do a masters and then try break in through the cycles.
Understandably not feasible for everyone financially so as a back up:
- start getting your corporate finance skills up. Do courses that help you build fundamentals such as the FMVA, it won’t get you an interview but it sure as shit will help when you get asked questions
- see what parts of your current role you can milk a bit to shine on your CV, you are gonna have excel skills if ur in CR so use that on ur CV
-network like a mofo
-I know people that have done S&T to M&A so defo possible
What has your comp been like for credit risk? Base & end of year bonus
A guy from my current group worked in credit dept and lateraled in after working there for 3 years. He came in as an analyst 2 and was promoted after 1.5 years.
Hey, was this a BB or MM?
Would recommend you try to move to lev fin from Credit That's much more doable. Then lev fin to ibd is doable as long as you have coverage interest
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