Non IB junior internship to FT IB?
Been seeing a lot of posts about landing FT IB from a SA seat, but I’m curious about the path if you don’t have an SA role.
I’ll be doing a junior-summer Corporate Banking / Credit Underwriting internship. I got serious about IB in early junior year, and I honestly think I could perform well in interviews, especially at MM / regional boutiques. The problem is timing… SA recruiting is so far ahead that “just delay graduation two years and recruit again” feels like a terrible idea.
For people who miss SA recruiting how realistic is CB/Credit to FT IB?
Is it Better to just work on getting return offer and try to move through lateraling after 6–18 months, or do some firms still hire true FT analysts?
Anyone who has been in similar boat please let me help a brotha out.
Based on the most helpful WSO content, transitioning from a non-IB junior internship, like Corporate Banking (CB) or Credit Underwriting, to a full-time IB role is challenging but definitely possible. Here’s what you need to know:
Full-Time IB Analyst Hiring:
While most IB firms fill their full-time (FT) analyst roles through their summer analyst (SA) programs, some firms still hire true FT analysts. These opportunities are more common at middle-market (MM) or regional boutique banks, which may have less structured recruiting processes. Networking heavily and being proactive in reaching out to these firms is crucial.
Lateral Move After 6–18 Months:
If you secure a return offer in CB or Credit Underwriting, working for 6–18 months and lateraling into IB is a realistic path. Many professionals have successfully transitioned this way. To improve your chances:
Proving Your Interest in IB:
Given your "atypical" background, you’ll need to demonstrate a strong commitment to IB during interviews. This includes:
Timing and Strategy:
Delaying graduation for two years is generally not advisable unless you have a clear plan to secure an SA role. Instead, focus on excelling in your current internship, networking, and preparing for lateral opportunities or FT analyst roles at MM or boutique firms.
Networking is Key:
Many lateral and FT opportunities are not publicly posted. Leverage LinkedIn, alumni networks, and cold emails to connect with bankers. Express your interest in IB and ask for advice or informational interviews.
In summary, while the path from CB/Credit to FT IB is not the traditional route, it’s achievable with the right strategy, networking, and preparation. Many have successfully made this transition, so stay focused and persistent!
Sources: A Guide for Switching From Commercial Banking to Investment Banking, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, Lateral from CB to IB?, IB is stupid
I did LMM PC and recruited FT to RX IB. From a non-target, but I got plenty of interviews and landed at a great firm.
It helped that I had a bunch of internships - sophomore summer, junior fall, junior spring - in different parts of credit, which helped me build a cohesive story and supported my networking.
That’s encouraging to hear and thanks for responding.
What was your process for FT recruitment ? Did you target strictly MM? Any other way besides past internship connections you got on the phone w people ?
Ended at a top Rx team. Only focused on Rx and had a bunch of interviews.
I did a ton of networking, check my other posts for those details. Not much to it, just have a good resume/story and network with everyone you can. Put yourself in positions to get lucky and jump on any opportunities you get.
You will be fine.
I was in a similar boat. Was 2nd semester junior with only accounting internship and just landed FT IB MM.
If possible I would look into taking a gap semester (ideally fall) and finding a LMM IB firm to let you come intern for them. Not a typical route but will show that LMM management that you’re eager for IB.
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