I'm currently an analyst in M&A. I work at a middle market bank, have some deal experience, been doing this over two years. I'm thinking about where I want to take my career and feel that I could be a good fit in a sales role within S&T.
I guess my question is, how the hell would I go about making this sort of switch? Further, how could I find out if this would really be a good fit?
I like the markets, generally speaking, and for lack of a better word I'm a good schmoozer / people person. I'm just getting to a point where derive essentially zero satisfaction out of my job on a day to day basis. Writing CIMs, making pitch books, it gets old after you've gone through several processes. Not to mention, the lifestyle is pretty shitty, which goes without saying.
Any advice or thoughts would be greatly appreciated. I realize this is fairly open ended, but as I said, advice of any sort would be fantastic.
I'd like to know more about a transition to Sales as well. I have absolutely no clue what comp and hours are like.
I would suggest a LOT of networking. Sit on the trading floor, pick up the lingo. Being a schmoozer is great, but keep in mind a Sales analysts do a lot of grunt work at the beginning. A lot of trade tickets. Hours are long (a lot of client entertainment, which is more fun than modelling in a cube, but remember than you need to be ready to go the next day at 6am and repeat.
One we get past year end and past comp season, they'll be people looking to hire. Just keep in mind that you're selling to people that sell all the time - you gotta have a good pitch ready.
What do you mean by grunt work mate?
I can tell you that some banks actually PREFER salespeople with 2 years of banking experience so you definitely have a chance.
eric, what is comp like for someone with 2-3 yrs IBD experience ?
Probably should've added this color in my first post. I'm at a middle market bank, no S&T in the firm. I've worked on (and closed, start to finish) several deals, though I suppose that's fairly irrelevant here.
My plan right now is to finish my analyst stint and collect my bonus in July, while trying to put feelers out there in the mean time. I realize that doing anything of this nature will be easier after the new year no matter what.
Could headhunters be of any use or will I have to just scrounge and claw for an opportunity somewhere? I worry only that if I apply to jobs cold that I won't be taken seriously since I haven't worked in sales before.
Again, I appreciate the feedback and welcome any more helpful information. Thanks a lot.
Actually im thinking abt doing sales for the same reason as u. market driven, people person, etc. im more thinking abt institutional sales tho.
what would differentiate institutional sales from what the poster is referring to?
Beyond just general comments about networking, who should I speak to? Should I try and get in touch with HR departments at banks? Should I have a focus? I guess I feel confident that I have the skills for the job, but I'm not sure how to frame the argument that someone should take a look at me nor am I sure how to get up front of people.
Clearly this is far off the beaten path of IBD --> PE/HF, but I have come to some epiphanies as to what I want out of a job, and sitting making powerpoints and memorandums is not it (nor is conducting due diligence and sorting through data rooms.)
As I said, any specific advice is greatly appreciated. I'm very much open to anything and do not have any affinity for any particular brand. Thanks again in advance.
Bump - interested if anyone has any further insight.
Going to B-school is the obvious option. The BBs particularly like to hire their salespeople out of a certain programs - Wharton, Columbia, Chicago, NYU.
If you are completely set on the direct transition, I would recommend leveraging alumni contacts and cold calling.
Bump - Does anyone have insights on whether an IBD analyst with 1-3 years experience would enter Sales at the same respective level or as a 1st year analyst always?
Investment banking analyst looking to lateral into s&t (Originally Posted: 10/11/2014)
Any opportunities out there ? Not looking to stay in banking much further and would like to get into S&t, however I have looked for job postings and have not found much. Any help here ?
Thank you
I'm literally in the same boat as you. LOL hours aint worth it
Yeah man definitely. Can't. Do. This.
Have you looked internal? There is going to be basically no listings right now considering all the new hires just started.
Not sure why you think S&T is any better, except for the easy hours.
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