I’m a non target with a 3.8 gpa and a bb s&t internship, but I’ve realized that my interests and career goals are better suited for a specific coverage group in ib. Could you guys spare any advice on how I can make the switch?
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Network with people on coverage teams. It’s not an impossible transition but it’s definitely tougher without having people in your corner
Do you think an MSF would help with the switch?
I made the transition not too long ago. It took a lot of networking and waiting around for the right opportunity. Was honestly a grind but if you are patient and keep working at it, you’ll get looks.
Thank you for the insight! I have a few questions related to your transition; mind if I pm you?
Not OP but looking to do the same, interning in Fixed income sales at euro bank but want to move to IB don't care if its MM, BB etc (nontarget).
I know networking is essential but how do I convey my interest for IB without having any IB experience other than a bunch of case studies and courses(modeling) on my resume.
It's pretty easy as an intern tbh. Basically you can just the narrative that you tried S&T, didn't like it for abc reasons, want to move to IB for xyz reasons. I did it as a FT analyst and people are far more skeptical so you have to think about your "why" a little more and really convey that this is a transition you want to make.
Before I even started networking I spent a month or two learning how to model and taught myself to be pretty well versed in the technical aspects of the job. Obviously it would probably be different as an intern, but I thought it would be more convincing to people if I was being proactive.
Happy to answer any additional q's
Would agree with the above, have a friend that was able to lateral from S&T into IB.
Consistent networking over weeks/months on the S&T job and when an IB opportunity came up, she was able to bring up the networking connections to land an interview. The difficulty comes up when competing for these position against people that work in IB at smaller firms, but as long as you have a strong network and a story to tell, it's do-able.
Keep your head up and keep pushing, hope you make it.
Thank you!!
Definitely possible and easier to do internally. My advice is do it early during analyst years (or before starting full-time would be best). They’ll likely make you take a year haircut when you switch. Much easier to swallow at analyst level (going from 90k to 85k) than it is at associate level (going from 140k to 95k). The year haircut is why it would be ideal to land something before you even start full-time
I have seen various people make this jump. I even saw a guy make the jump from S&T straight to PE and now HF without needing the IB in between. I think those guys networked well prob. One of them I think ended up getting a Jd/mba prior to the switch. Good luck
Went from S&T at a smaller bank to S&T at a BB, but in their structuring group. Then went to coverage after a few months. It’s possible, but better to switch asap
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