Talking to MD about switching groups
Basically title. There’s a group within my bank that I’m interested in and believe I have a good shot of getting into (coverage to product transition).
How do I tell my MD? Should I bring it up right when an opening pops up, or should I let it be known earlier? Assuming an opening is available in a few months, when should I begin letting my MD know of my intent?
I did something similar in the past, are you an analyst? I started having discrete conversations with the new team's staffer (let's call him John) expressing interest early on. Then started having informal coffee chats with the associates / VPs of the new team to "learn more." Stayed in touch with John and he reached out with an opening on the team a few months later. It was a fit and as I was more advanced with the process/conversation, that is when they recommended I tell my current team/MD/Group Head. I think it's hard to tell your MD now because (1) there may not be an opening for a while on the new team or (2) that seat may be given to a candidate whose dad is boys with the new group head etc. May put you in an awk position to express switching teams early on; though I don't know how good of a shot it is you mentioned. Which product team are you looking into?
Appreciate your thoughtful response.
Yes, im an analyst currently in a sector coverage team in a regional office trying to move to DCM in NYC. Realized banking (especially coverage) really isn’t for me, nor are the hours, and I’ve heard anecdotally DCM offers a better wlb. Not only that, but I do genuinely have an interest in the product and capital markets as a whole so I think it’d be a good fit.
I believe I have a good shot bc our two teams are constantly working on pitches together and the DCM MD has been complimentary of work in the past. I also have a one on one scheduled with him this week to “learn more about DCM” but really to express my interest.
That makes sense. Yes DCM offers great WLB, hours are probably 7-7 on average. Not sure which bank you are at but usually the product groups have a training manual (DCM/ECM/LF 101) they usually give to interns and first years. If you are tight with a junior on the team you should ask for that. It would be good to understand the debt/bond lingo like G-Spreads/PX1 function/etc. good luck
Hey hope you see this, I’m the OP.
Bonuses getting paid in two weeks and I’ve heard there will be some attrition within the group I want to join. Any insight as to what my immediate best steps should be? In a couple days I’m talking to my MD regarding my broader career goals and plan on bringing this up
Appreciate your feedback
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