Anyone make the jump from S&T as an summer analyst to IB for full time? There’s so much chatter regarding how this industry is dying. Has anyone made such a jump in this thread? If so, how did you do it?
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Made the jump from S&T to IB after working in S&T for a couple years (vs transitioning after the internship). Best/easiest way is to network internally at your own bank (i.e. reach out to your fellow interns in IB to connect you with an analyst or associate, cold email analysts/associates since you’ll have a directory available, etc.)
Otherwise, you can do it the old fashioned way and cold call a bunch of people in IB on LinkedIn (had several friends who successfully lateraled this way). Job market is very hot right now so you should be able to do it. Good luck
Did you have to “start over” as an Analyst 1 or were you able to stay at the same level?
I was brought back to a first year analyst. There are several people I know that went from S&T to IB at my bank and other comparable banks and everyone was brought back to year 1 analyst to my knowledge.
We’ve all made the switch to PE a few years ago but everyone had the mindset of going to a HF/PE shop post banking.
Appreciate it! Looking to jump from NY to Chicago while I'm at it (want to start a new life there), so I suppose the LinkedIn approach makes sense for me here. From what I heard, getting the "Why {location}?" story straight is the key factor here, have you needed to do that previously? I ask because you said you jumped around a few times.
You can always point to how you have family and close friends who live in Chicago which honestly is a good enough answer (even if it’s a white lie). They will definitely ask why Chicago so good to have an answer prepared. From my past interview experiences for opportunities in different cities, I’ve always said family, friends, and a comment on why City is so awesome when I visited.
For networking, also check if you have any mutual connections within your friend group or school alumni as this helps with cold calling. Also, I’m assuming your bank has a Chicago office since most of them are there so would really lean on doing it internally as it’s way easier than externally.
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