I’m an incoming SA at a top independent PCA firm with the goal to lateral/break into BB or EB IB.
Would it be possible to lateral to a PCA gig at an EB and then internally transfer to IB? Or would if be just as likely to try to directly later to coverage?
Looking to ideally hear from someone who’s successfully been able to make this lateral move.
Thanks
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Based on the most helpful WSO content, lateraling from a PCA (Private Capital Advisory) role to IB at a BB or EB is possible, but it can be challenging. Here are some key points to consider:
Direct Lateral to IB Coverage: This is likely the more straightforward route compared to lateraling to PCA at an EB and then transferring internally. Many threads emphasize that internal transfers, while possible, can be unpredictable and depend heavily on firm culture, internal mobility policies, and your performance in your current role.
Internal Mobility Challenges: If you lateral to PCA at an EB, transferring internally to IB might require strong networking within the firm, building relationships with senior bankers, and demonstrating your interest and capability for IB. However, this process can take time and is not guaranteed.
Direct Lateral Tips:
Success Stories: While specific examples of PCA-to-IB transitions aren't detailed in the WSO threads, many users have successfully lateraled from non-IB roles (e.g., corporate banking, PCA, or other advisory roles) to IB by leveraging networking, strong performance, and a clear narrative about their career goals.
If you're set on IB, focusing on a direct lateral move to coverage might save time and effort compared to the two-step process of PCA to PCA at an EB and then to IB.
Sources: Lateral Internally From S&T FT to IBD FT (BB): Tips, Story, and Advice, Lateraling Guide for Investment Banking, Lateralling from a mid-market to a BB / EB, Unpacking Corporate Banking at Citi/BAML?, How to Navigate FT Recruiting: Learn from My Successes/Failures
Bump
Yes, you can do it internally but probably will have to leverage with them with another offer on hand at the end of the summer or do it after 2 years which sets you back a bit but career is long so not a huge deal in the grand scheme of things if that’s what you want to do
Ok that’s reassuring. I thought I was going to be super pigeon holed starting off my career in PCA.
Did a SA at a PCA and now joining a EB in M&A. PM me, happy to chat.
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