DCM Escape Plan?
Hey guys,
I'd like to hear any and all advice that you all might have. Currently, I am a DCM analyst who has been on the job since June. I am eager to lateral out as I find the work I've done to be mostly mundane and would like to gain a better modeling skill set and deal experience from another group on the coverage/m&a/levfin/anything-but-CM side. I am at a mid-size regional bank where pretty much every deal we participate on we are a co-manager. I got my internship offer from a target with a decent GPA (3.6) and an Econ degree. I had zero finance experience prior and, of course, was not focused at all the first year of college. I was more interested at the time in drinking and making friends. I really did not have the foresight to plan ahead for an IB job early in college, which I now regret. Making matters worse, I started looking for positions in November of my junior year and was very late to the party. Thus, I took any internship with ''investment banking'' in the title as a big win.
I know I'm as smart as the average IB analyst and I have the drive. My main issue is I have such little valuable deal experience to begin with. The way my group operates is high volume but little involvement on any deal we touch. 95% of the time we're in a co-manager position due to being in tier 2 or 3 of the issuer's credit. I realize that the jump from a small cap markets group to a competitive IB job is not an easy one to make, so I'd appreciate anyone's insight.
Thanks a lot guys.
Looks better if you have two years at least before you switch over. Do you know where you wanna go?
I have no particular preference. The most natural transition from DCM to me seems like LevFin. Also, I’m interested in potentially being in private credit down the road, so levfin would be a good lateral. With this said, I really am open to nearly any opportunity outside of my current IG DCM role.
Disagree. You will be branded as a DCM banker with no modelling skills. I would try to lateral ASAP and if necessary interview for other banks. DCM is a career death sentence imo if you are after a skillset and excitement
Feel free to message me as this seems subjective to your situation. Some of my best friends are in DCM so can provide some insight
In a relatively similar position. Any chance you could PM me to chat off-line?
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