West Coast Banking from East Coast Target?

Breaking into West Coast banking from an East Coast target school is definitely possible, but it requires strategic planning and effort. Here's what you need to know:

1. Chances of Breaking into SF or LA Banking:

   • Based on the most helpful WSO content, East Coast target schools like Cornell/Dyson, Georgetown, and Stern do have representation in West Coast banking, but the competition is tougher compared to West Coast target schools like Berkeley, USC, and UCLA.
   • Networking is key. Many analysts in SF and LA come from schools with strong alumni networks in those regions. You'll need to leverage your school's alumni network and attend West Coast-specific recruiting events to stand out.

2. How to Go About It:

   • Networking: Start early by reaching out to alumni from your school who are working in SF or LA. Informational interviews and coffee chats can help you build connections and gain insights into the recruiting process.
   • Internships: Aim for internships in West Coast offices of banks or firms with a strong West Coast presence. This will demonstrate your commitment to the region.
   • Targeted Applications: When applying for full-time roles, explicitly state your preference for West Coast offices in your cover letter and interviews. Highlight personal ties to the region (e.g., family, weather preference) to strengthen your case.

3. Commonality of East Coast Students Going West:

   • While it's not uncommon, the majority of East Coast target school graduates tend to stay on the East Coast due to proximity and established networks. However, those with a clear preference for the West Coast and a strong strategy can successfully make the transition.

4. PE Exit Opportunities: West Coast vs. East Coast:

   • West Coast PE opportunities often have a tech and growth equity focus, given the dominance of Silicon Valley. If you're interested in tech-focused investing, starting on the West Coast can be advantageous.
   • East Coast PE tends to be more diverse in terms of industries and includes more traditional buyout firms. If you're unsure about your long-term focus, starting on the East Coast might provide broader exposure.

5. East Coast IB to West Coast PE vs. Starting West Coast IB:

   • If you start in East Coast IB, transitioning to West Coast PE is possible but can be challenging due to the time difference and the need to network remotely. However, it allows you to build a strong foundation and potentially explore a wider range of exit opportunities.
   • Starting in West Coast IB positions you closer to the region's PE firms and allows you to build relationships locally, which can be beneficial for exits.

Recommendation: If you're certain about wanting to work and live on the West Coast long-term, it may be better to target West Coast IB roles from the start. However, if you're open to exploring broader opportunities and are confident in your ability to network, starting on the East Coast and transitioning later is also a viable path.

Sources: I-Banking in Cali, West Coast Target Schools?, Fish Out of Water - East Coast to West Coast Transition, https://www.wallstreetoasis.com/forum/investment-banking/william-blair-tech-exit-opps?customgpt=1, UC Berkeley Undergrad for IB Recruiting