Tips on internally-moving to different position after SA role
I signed an offer as a BB SA in NYC working in Risk Management (non-deal-centric). It is hard to say my current placement/function, but careerwise I eventually want to end up on the deal side in DCM/ private credit. I am grateful for my current role, but wanted to see if I could leverage the experience for a different role closer to my career goal within the same bank.
Assuming I do something relevant like enterprise credit risk this summer, what is the process like recruiting for a similar role within the same bank - for example, a deal-facing credit role? Would I be throwing away my (potential) return offer by trying to vertically climb to another division? Even worse, would I jeopardize getting a return offer in the first place if I made this intention clear to my recruiter earlier on? Not sure what the etiquette would be behind this.
I am thinking of either re-recruiting full-time within the same bank or perhaps more difficult, re-recruiting for a different SA role. Appreciate any thoughts!
Some BBs are more open to internal lateraling than others. I know Barclays is very open to it and encourage it if its what you want. Granted I know Barclays hasn't been to hot lately but being in IB at Barclays still looks 100x better on a resume then being in some no name LMM or MM IB shop imo. I know someone who was in middle office role at Barclays for 3-4 years then he got his CFA and lateralled over to IB Barclays as an associate. Other BBs might just shut you down and not entertain the idea so really depends.
Based on the most helpful WSO content, it's not uncommon for individuals to move internally within a bank, especially if they feel their skills and interests are better suited to a different role. Here are a few tips:
Networking: This is key. Start building relationships with people in the department you're interested in. This could be through informal chats, attending events, or even asking for a mentor within that department.
Express your interest: If you're unhappy in your current role and believe you'd have a better experience in another group, it's important to communicate this. You could start by having a confidential conversation with HR. They can put you in touch with the relevant people and guide you through the process.
Show your value: Perform well in your current role and take on more responsibilities if possible. This will show that you're a valuable asset to the bank and could potentially do well in a different role.
Timing: There's no perfect time to make a move, but it's important to consider the potential implications. If you're in your first year, it might be worth waiting until you've gained more experience. However, if you're unhappy, it might be worth exploring other options sooner.
Remember, every bank is different and what works in one might not work in another. It's important to understand the culture of your bank and how open they are to internal mobility. Good luck!
Sources: Move from one group to another (as an analyst) within IBD? P&U -> Consumer/Retail, Move from back office to middle office to front office, Q&A: Non Target. Non Diversity. No Networking. BO to MO to FO at BB., Moving from low-tier BB SA to Top-Tier FT
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