Questions about Lateral Hires
Currently an Analyst 1 in a tier-1 city office at a regional middle market (think Wells, BGL, KeyBanc) - I am in a CB group that is housed in the IB. Work has been good, I am learning a lot about debt and capital structures and I recognize there how lucky I am to have the opportunity to be working front-office Finance in a tier-1 city. But, I want to lateral into a more IB focused role. My goal is to work in a more technical IB role (in the long run M&A, but willing to start out in any IB-focused role where the deals are more technical and challenging. When I was onboarded onto this platform as an intern it was for an Investment Banking role (and my full-time offer letter was that for an Investment Banking Analyst - I am still stuck in the CB realm but I can call myself an Investment Banking Analyst on my resume. This leads me to think about lateral recruiting and how to best leverage my current spot. I graduated with a 3.3 GPA from a non-target (think Rutgers, IU, OSU) and my deal experience on my resume is limited to the more vanilla and common deals done in CB (amend & extends, revolvers, term loans, minor syndications work).
My question is: am I shit out of luck? Should I just be sitting in my seat and not thinking about lateralling? I would love to get some general advice from you savants about where you would go in this position - I have been feeling lost and everyone knows this is the forum for crowdsourcing valuable, nonmeme, advice.
Just say it you're in ABL at Wells.
lmao close but not quite
Don't lie to me lol. Wells is the only one that house ABL under IB. And, ABL is the only credit team under a IB that does revolvers. Unless you're at JPM, they may house their investment banking credit under IB or corporate banking. I don't even think BNP have an ABL team. Never seem them in a bank group.
Going back to your question, if you're at Wells then you should be fine transferring internally or externally to MM IB. I would say it's harder if you're at BGL or KeyBanc because they don't agent much deals and there's not too much to talk about. The brand name itself is also taken into consideration as well.
loool.
no, no not at Wells ABL. But, the ABL work I have done tho has been far more interesting than the Cash Flow loans we book. What I have been doing is more vanilla admin work than anything else. I feel like I got duped - I signed an offer to work in Ibanking I thought there would be more analysis involved.
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