I graduated last year from a non-target with honors, and moved to NYC to work for a BB IB in an Operations Rotational Program. When I accepted this position, I thought I wanted to work in a Strategic Management, but was placed into the KYC department for my first year, and Fixed Income Trade Execution for my second. I've found my true interest is in Equity Research and Sales. I've been trying to switch into FO for the past few months, and have been applying around to other firms. I have some decent support from upper management behind me, but it seems like very few are able to make that leap. I am planning to network more once this 'rona situation gets under control, but if anyone has any tips or prior experience doing this please lmk. Much appreciated fellas
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Anyway you could move internally?
Think it gets harder once you’re two years into the job as even if you “reset” a year you’ll still be a 2nd year analyst without any prior relevant experience. Also with this situation any lateral hiring won’t really happen until after the summer.
I’d suggest perhaps working 2 more years then getting an MBA to pivot since sounds like you have a high gpa
find out which team you want to be on, put together some investment ideas (obviously read their research structure and thoughts), and network with those guys. if that’s not possible and you are at a big bank- try reaching out to HR and discuss you want to be there long term and need the right fit/challenge
This website has blown up to the point I can’t avoid it using google. When I do read it I’m baffled, but not always shocked. I studied at Rutgers Newark (tad less glitzy than NB, but really just a state school) and I’m now MO at a BB. I onboarded as an ops analyst in a very repetitive position that was a bit outside my personal interest, but then chose where I currently work. Community college to a state school, worked as a bartender at a local dump and a cashier.
For starters, hundreds of thousands of bank employees globally have 0 interest in working FO. None of them go home to browse WSO, some of them make over 180k a year (most of you think I’m lying because you clearly have no actual experience in a BB.) There is extremely livable wages throughout the MO/BO. BO has boring roles, of course, but these forums do little to discuss how in depth and wide ranging different BO roles are. As for the MO, I have regular talks, network with, or have happy hour with individuals from every single function from BO-MO-FO-to the security guards at the lobby. Nobody at my job cares what college you went to after you show that you can perform.
The false image that these posts provide is insanity. If an employer talks about your school that much, or even considers it, work somewhere that respects you and you’ll get far greater exposure to opportunities. If I ask an MD for a one on one and they’re busy all week, I ask the following Monday. I’ve been encouraged to apply for lateral movements throughout assets including working as a trader. If anybody from an Ivy League said that you have to go through a certain path in the education system to perform here you’d be laughed at. That’s ridiculous. Want to know my advice? Understand the lifecycle of your operation. Whatever it is. Network, but be yourself. Show why you’re a driven yet enjoyable person to work with. And do what you LIKE. Idc what school you go to, if somebody from the worst college in the world enjoys the work, and isn’t seeking status for the sake of status, they will run circles around you. If you find that going back for an mba is the best route, maybe it is.
But by the time you hit 28-29 years old you may just brag about a more peaceful BO/MO/Risk/Compliance AVP position. It’s not a bad way to live.
I beat out every Ivy League kid in my original program, not because those schools are this or that, but because I was the most likeable, and humble/hungry. Just be confident and create relationships. Ask what you can do for them, not what they can do for you. Do what your avp does in any situation that you can. There’s not one piece of information in the billions of literature and programs at Rutgers that I can’t research after work.
Use this incredible amount of downtime you have with the 'rona to study for and pass the level 1 of the CFA. You will not only learn a ton and feel more confident walking into interviews, but it also shows the guys in the group you're applying to that you're smart and can commit to busting your ass towards a goal and give up time you could be drinking with your friends. When they ask in interviews say you're planning on completing all 3 levels even if you aren't.
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