Hi all. Does anyone have experience in going from a product group to a coverage group and then exiting to the buy-side, preferably PE? I will join a product group in a top BB in London and am curious if all hope is gone with regard to buy-side exits.
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Of course it is not, relax and be proud.
Then work - network soon enough - people have lateraled at different levels, Analyst 1 to Analyst 1, Analyst 1 to Analyst 2, A3 to A3. I would say it is more difficult after reaching associate but completely doable to move to coverage.
Thanks! My concern is more upon the time served in the coverage group, given that exits in London seem to be after 2 years. Will recruiters frown upon later exits, i.e. associate 1 (1-2 year product + 2 year coverage)?
No they would not, if you target an Investment Associate role. They could if you only spent like a year in coverage but again it all depends on coverage team - if it’s traditional IB coverage I would see no issue at this level as long as you are around the two year mark.
My advice to you would be to do at least the two years just so you get to know the job, have some achievements and if you want to do it longer or not. Maybe you want to do a career out of it, or go back to a product group, which are all smart decisions honestly.
Thank you, very helpful. Would you recommend moving from the product group after 1 year or after 2 years?
1 year is so short in a product group, even in a firm on top of league tables. Especially in this economic environment.
What you want is have enough recognition from your product team to lateral internally to the team you are looking for. This doesn’t come in less than one year in a properly staffed team with associates and VPs holding the fort. 1 year is the shortest and most likely would imply doing A1 to A1 (not a big deal, nobody cares).
You can network for a year, and after a year start discussing the evolution prospects within your team depending on their character, but this is your best shot to then join in the same time as a new analyst batch.
May I just add - product groups are extremely underrated for most of them when it comes to WLB, exposure within an IB. but this is a side note, for you to make your own experience.
Of course it is not, relax and be proud.
Then work - network soon enough - people have lateraled at different levels, Analyst 1 to Analyst 1, Analyst 1 to Analyst 2, A3 to A3. I would say it is more difficult after reaching associate but completely doable to move to coverage.
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