Returning to IB / ECM after joining a start up
Hey guys – I was at a BB in NYC and left a couple of years ago to join a start up after being in IB / ECM for a few years. I’ve realized that:
a) I was actually much better at my job in banking than I am at this startup,
b) I miss some of the intensity, and
c) I miss the higher risk-adjusted upside and clearer progression.
Do you think it's realistic to get back into banking? What's the best way to go about it? Should I reach out to my old shop, or would other banks be open to my application?
Yes - it shouldn't be difficult. How long were you at the BB and the start up? Reach out to your old connections.
Banking has massive turnover rates, so they're always looking for lateral talent, especially those who have done it before and are looking to get back in.
Thanks, really appreciate it! I was at the BB for 2 years, and I've been at the startup for 2 years as well. Sounds good - I'll follow that advice.
Ok - the one thing they'll do is discount your start up experience. They'll ask you questions as to why you left, and probably think you left because of work-life balance reasons. Just the nature of how these go / how people think.
I don't know what the typical A2A career progression looks like anymore (i.e., if it's 2 years, 2.5 years, or 3) but you may have a chance to recruit for lateral associate roles.
Good luck.
Thanks, that makes sense. How do you think my profile would be received by other banks or groups outside the one I came from?
Bump
You'll be fine. Some people for some reason love the prestige of a BB. If you want to go work in MM ECM or another role, they'll likely give you an interview given your background at a BB. And other BBs will likely view it as relevant experience.
It's very dumb - some of the most mediocre bankers I've ever worked with were at a BB but that's how it works.
Agree with others that not atypical given turnover rates and to utilize your network. Would say markets this year have been a bit volatile and equity/IPO markets still in early innings of recovery and we are in summer (ie market typically slows again soon) which all play a role in hiring - all this to say would be patient about timing and kick-up networking in the interim. If you have been out a long time leveling will be a question. To the extent you can tie start-up work at all to ECM work would try that and come up with a few succinct selling points to make case so that folks you knew / meet can help sell you internally.
Thanks - very helful. Yeah, not too sure on how to approach the leveling question. I was an AN3 when I left, so I suspect A3 / Assoc1?
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