Transferring out of a 2-Yr rotational program to IBD in same bank
So I'm currently in a 2-yr rotational program at a large bank but I am looking to move into the IBD of said bank. I've only completed about 9 months worth of my rotational program but it's just not aligned with my interests or professional goals anymore.
Does anyone think it would matter to areas of the bank's IBD that I was leaving this current program? Would they not consider me because of this? Anyone have similar experience with this type of lateral move?
Hate to say this but that type of move is close to impossible (I was in a similar program at Citi/BofA/Wells and tried to lateral to IBD from a MO position). The reason is because there are hoards of people who are doing IBD at boutiques/MMs and want to lateral and there is literally zero reason to take someone that isn't doing exactly IBD. Eventually what I did was go to an MM bank, then lateraled back to a EB/BB. Took me 2 wasted years, but was definitely worth it.
Davistaz- thanks for the reply and congrats on where you are now!
Did you try networking internally at the bank you were at or was it not even worth it (like did the risk program prevent you from moving or internal people weren't as receptive)?
I know of two people who did that at JP Morgan. In fact, I believe that one of the two actually did BO. They both networked, but not to an extreme level. However, they both were in NYC, so I think that's important to point out.
Did they leave in the middle of their rotational program or did they graduate from their program and then move into IBD?
One I believe finished and had a role in BO waiting when she got it and the other one got the interviews.offer right before the two year MO was over.
I would say JPM has a much better internal mobility than where I worked. I did quite a bit of networking (not crazy tho like emailing every division). Key thing to point out is that I didn't want to move into just IBD, I knew I didn't want to do capital markets which actually would have been a much more viable route (a lot more attrition happens in that area).
I would definitely network (MO/BO jobs often have a lot of downtime so you have no excuses) and see where that takes you, I just wouldn't get my hopes up (you have to get really lucky).
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