S&T to IBD?
Hey all - curious if anyone has experience moving from a sales seat (rates/credit/equities) to IB coverage. Assume this is at an American BB. How would one navigate this without burning bridges with their desk? When is the ideal time to move (i.e, a year in? two years in at asso promo?).
Some problems I see:
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Probably have to apply internally for the seat with a spot opens up in coverage; but, i) might seem rather abrupt to bring it up to the team and ii) if you tell the team you want to leave for IB, and don't manage to secure the opened seat, you're probably in a bad spot come bonus time.
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Say I'm an An2 in a sales seat; would I join coverage as an An0? Or an An2?
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If you're on an analyst programme, do HR try to keep you locked into your seat? Are there any other difficulties?
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How does coverage view someone from a sales seat? Not interested in capital markets (even LevFin - seems like exits are closer to financing/credit side of investing). Interested in coverage of growth areas of the market (ideally TMT, HC, but also would be interested in Nat Res/Industrials - latter groups because climate change/renewables focus).
Goal is to get to IB and exit to a public markets / HF role at an equity L / S. Noticed that there doesn't seem to be respect on buyside for those in sales seats like there is for IB analysts - despite doing much more relevant work and having to generate trade ideas.
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Bump
Not me, but I know someone who did two years in S&T, then moved to IB as an associate. Must be weird for the An1 who has to teach the Associate how to do things haha
So he was basically an MBA associate minus the MBA part?
If you’re going for a HF eventually then did you consider staying at your current desk then making the jump accordingly? It seems tedious to jump S&T to IBD coverage then HF rather than skipping the middle step. If my thought process is off here please let me know!
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