Hi everyone!
I have a tricky question and don't really know how to tackle it.
I have got a FT offer (GP) in a tier 1 bank in London after an off-cycle. I am really happy with that, but there is a huge BUT... They only offer me a position in their IB division, so I coul be working from July 2012 either in M&A, or in ECM/DCM.
I will know my desk the very first day of the training. I already had a few experiences in M&A and really enjoyed it. I don't want to take the risk of being in a different division and being unable to switch back to M&A once my FT starts.
Would you accept the offer and keep fingers crossed? Would you accept the offer and look for another place where you would be sure to get a FT in M&A?
Feel free to give me your opinion!!
Thank you in advance for your help,
Camondo
You can probably express your interest to HR or something. I'd accept if you have nothing else in the pipeline.
MS? If yes, I understand your concerns.
Not MS, but a great bank in Europe also very well known in the US. I have already expressed my interest to HR, but as a matter of fact we will be 40 to express our interest... may be difficult to satisfy everybody.
Let's imagine I accept their offer and get a FT in DCM. Do I stay during one year and try to move to another bank in M&A or am I screwed and need to reapply next year for a 1st year position?
Ok. Would also be a typcial MS issue, happens there some time with the ECM group what I heard. Officially u can also lateral within the bank - but I wouldn't give a shit about that, as your chances shouldn't be the best (maybe worth going to an industry group if nothing else would wind up for u). Expression of interest etc. is a typcial process, but if you end up in ECM/DCM, and are just doing coverage day in and out then you're fucked (imho). I also could imagine going to another bank after 1 year shouldn't be that easy. Anyways, I got no serious stats about people who have been forced to a group where they didn't want to go in the first place. It must happen, but I have no clue how often.
You'd probably have to look for another bank because very often people plan to move from the first day on the job and most companies don't like that. Chances are they will not let you move within a year. Another bank might be glad to steal from the competition, but it's still risky business. Remember, business world is very small.
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