Anyone able to shed light on how to move from DCM to LevFin at the Analyst level? Also, when should someone do it, 3 months in? 6? 2 years?
What would be the best strategy on how to do it?
Finally, would within banks be the best option or moving bank?
Thank you!
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surely there must be someone who can comment on this?
Moving from Product to Product might be easier than say moving from Product to Coverage, however, I can't comment on that aspect. There are a few things to highlight when trying to move whether internally or externally that I've been mentored on and think it would be good to pass along.
Get your respective Line Manager on board and start having discussions about your career development and build political capital within your respective group/product. Having a reputable Director/MD speak for you when you internally apply is a huge positive to getting either the position you want or the group you plan to rotate to.
If moving from DCM to LevFin, you might need to brush up on modeling as I hear all too often that DCM bankers don't do enough modeling (correct me if I am wrong DCM bankers). Also, it might be easier if you try to move within the same sector you cover (Industrials DCM to Industrials LevFin per se.)
3 & 6 months are far too early. Learn as much as you can in your first year within your respective department/sector, build the political capital, and have networking chats with wherever you want to go. After your first year, its time to kick it into high drive and start either looking at your internal job board or look externally about open positions. When setting up those networking chats (1) have good reasons why you want to move, (2) be able to talk about your role and any deals you were on without giving specifics (obviously), and (3) get positive recommendations from those you've built capital with as these will go a long way in my personal opinion.
All in all, currently in the process of finishing up Year 1 in my respective group and these are the along the same lines of what I've been mentored to do.
Best of luck!
Thank you very much indeed Mr. Hardo!
Forgive my lack of lingo... but DCM to LevFin would be a Product to Product move wouldn't it? Product to Coverage would be something more like DCM to Industrials.
Secondly, for point #2, I didn't know that LevFin was divided into sectors in that way? So are there such teams as FIG LevFin, or CEEMEA LevFin?
Thank you again!
US thing only, most banks here in LevFin are generalist.
Correct, DCM to LevFin would be Product to Product.
Know in the U.S., we have product bankers for each respective sector, some handling two sectors at once (ex. DCM for Industrials/Nat Res) but can't speak outside of the U.S.
These questions are so open ended and always miss the point. You should be asking how can I be the best dcm analyst I can be for the next two years and then parlay that into what you want to do.
The kids we take from other groups into lev fin from other internal groups are smart. They work really hard in their current group and build a rapport with the seniors in their group for at least a year.
It’s much easier to transfer into lev fin from dcm for example of your current seniors are pushing and advocating your candidacy. But if you make it apparent early on that you’re already thinking about the next step, people can sense it and it would leave a bad taste in their mouth.
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