Recruiting Post-Grad (London)
Graduating this month from a top target UK uni. Starting an off-cycle internship at a small lev-fin advisory boutique with solid deal flow in September. I expect to convert this to full-time.
While I'm delighted to have gotten a job in this market, my worry is that I won't be fully interested/fulfilled by the work they do, and will want to move to a more generalist IB/M&A role at a larger organisation (ideally a BB, one can dream) in order to capitalise on training, deal scale and admittedly prestige.
My question- what is the best way to approach recruiting laterally at this stage, be it for another off-cycle role or a full-time position?
Are recent graduates (one year post-grad) typically eligible for BB graduate/new-analyst intakes?
Should I be networking aggressively to try and find out about openings in groups that I might find interesting? Do I risk losing a return offer if my employer catches wind of the fact that I am looking elsewhere?
As an aside, any thoughts on following this internship with a private credit off-cycle, and what moving to IB from there would entail?
To navigate your situation effectively, here's what you need to know based on the most helpful WSO content:
Eligibility for BB Graduate/New-Analyst Intakes:
Recent graduates (one year post-grad) are generally not the primary target for BB graduate/new-analyst intakes. Instead, you should focus on off-cycle internships, which are more accommodating for graduates. Off-cycle roles often lead to full-time offers if you perform well and align with business needs. Keep in mind that off-cycle interviews can be more competitive, as they tend to favor candidates with prior relevant experience.
Networking and Openings:
Networking aggressively is crucial. Use your current internship to build connections and gain insights into the industry. Reach out to alumni, professionals in your target roles, and recruiters to learn about potential openings. However, be discreet to avoid jeopardizing your current position. Networking can also help you identify opportunities in groups that align with your interests, such as generalist IB/M&A roles at larger organizations.
Risk of Losing a Return Offer:
While networking is essential, you should be cautious about your employer discovering your intentions to move. Maintain professionalism and focus on excelling in your current role. If your employer values your contributions, they may offer you opportunities to grow internally, which could align with your goals.
Private Credit Off-Cycle Internship:
Following your current internship with a private credit off-cycle role could be a strategic move. It would broaden your skill set and provide exposure to another side of the finance industry. Transitioning to IB from private credit is possible, especially if you leverage the experience to demonstrate your understanding of deal structures and credit analysis. However, keep in mind that IB roles at BBs or EBs may still require strong networking and preparation.
Lateral Recruiting Strategy:
By balancing discretion, networking, and preparation, you can position yourself for a successful lateral move while minimizing risks.
Sources: Off Cycle Recruiting Stories, https://www.wallstreetoasis.com/forum/job-search/ibd-sa-after-graduation?customgpt=1, https://www.wallstreetoasis.com/forum/investment-banking/m7-ib-associate-full-time-recruiting?customgpt=1, International Student - Chance of getting an IBD internship in London?, Q&A: Incoming IB analyst – international student, survived FT recruiting twice…
you may need to do a masters to have another shot at recruiting whilst building as much intern exp as you can in the meantime.
junior job market is unprecedentedly tough rn due to macro, no deal flow, AI, offshoring, secular decline of europe with no credible response from eu government and increasing oversupply of graduates
This was a masters
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