Switching from Compliance Analyst at Top Bank to Another Department more Finance Related
Hi everyone. So I got into an investment bank as a compliance analyst. I was studying for the LSAT to go to law school and apply this year, but then I discover that this bank generally does not hire JDs out of law school. They only hire experienced JDs.
I would like to stay at this bank long term, so im thinking should I go for the JD/MBA or just do an MBA? I'd have to take some more intro to business courses on my own time and study for GRE or GMAT to make it work. I've been wanting to create an NGO and I have an alumni from my school whose down to help me. To be honest I'm not sure exactly what department I want to work at this bank after I get an advanced degree. I barely know anything about finance - no one in my family is in this field, they are all in medicine. All I know is that I want to continue studying and climb the corporate ladder, and I don't see myself in compliance forever. What should I do in my case? Ask HR if they hire some JDs out of school? Ask if they hire JD/MBAs? How to I move from compliance to a more finance related department? Would appreciate any tips you have!
Assuming you are a recent college graduate, I would first look to network throughout your firm to try to get a better idea of what you may/may not be interested in longer-term. Perhaps your mentor can help guide you and/or make some intros. You will likely have to be in your compliance seat for 18 months or so before you can transfer internally anyways, so that could be a good reference point to use for when you want to have all of your ducks in a row. While networking, don't forget to handle your current duties and ensure that you remain in your manager's good graces as they will almost certainly be looped in before any internal transfer would take place.
It is not uncommon for Analysts to transfer internally and you could likely accomplish that without getting any advanced degree. It certainly wouldn't be easy though and would require considerable networking and good timing (as with anything).
FWIW I made the move from compliance at a top firm to an IB role by going the MBA route, but I unfortunately waited until my Associate years to do so, which made the move considerably more challenging. Would be happy to discuss further if you would like.
Yes, I am a recent graduate! Thank you so much, I will message you!!!! :)
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