Switching coverage groups as an Associate/VP
How feasible is it to switch banks/coverage groups as an Associate or VP? I'd imagine eventually it becomes pretty difficult, but when does that cutoff happen.
I think it depends a bit on the bank (BB, EB, MM, boutique, etc.) and group context. Are you moving from one product group to another, moving from one industry group to another or moving from either product or industry to the opposite?
Hypothetically, moving from coverage group to a different coverage group. Say, tech at one bank to healthcare at another bank.
I think Tech to Healthcare would be one of the transitions that isn't as tough but if you're looking to switch between industry groups with materially different fundamentals such as FIG to Tech or Healthcare to Real Estate then it's going to be tough.
In my experience “last call” for industry coverage switches are generally around 1.5 years in as associate (just received first full year bonus as MBA equivalent). You can pull it off later with internal politicking or with a desperate landing spot but then you might need to take a downgrade in brand / pay / etc.
Thanks for the response. That's really helpful.
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