Lateral from CB to IB?

Hi all,

I was recently extended a two year offer at a firm that houses CB in IB as a sophomore for 2020 and 2021. I don't want to be pigeonholed in CB full time and have no exits for buy side. Once I get a feel for CB and how it is, should I try to lateral to IB in the firm for next summer? Not sure if CB will allow me to get into credit firms. Also considering applying for full time next year but I realize it's tougher given most firms are picking primarily from their intern classes. Thoughts? Thanks!

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Comments (13)

  • Analyst 1 in IB - Cov
Jan 5, 2020 - 4:24am

I have seen this happen at Citi in the US as well. The person was a top performer and networked well with IB groups over the summer. Have not seen this happen at other banks from my experience

Jan 5, 2020 - 4:32am

In London it was quite informal, as long as I have been told, just one coffe chat and showed he could nail the technicals and understand the industry he was covering at CB. Then he converted his SA into a IB FT. In any case, dont know that guy so there may be something missing

Jan 3, 2020 - 11:59pm

I have seen it happen at all of the big four American banks this past cycle, including the spot I left open at my SA firm.

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Jan 4, 2020 - 9:07pm

I am not sure. I didn't no CB at all (a CB intern took my IB FT spot). I am happy with my experience with IB if that helps - I have learned a lot.

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Jan 5, 2020 - 4:46am

very easy to do at a top BB

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Jan 14, 2020 - 5:27pm

Be a top analyst and network heavily with people within the IB. Speak to HR and see if there is a structured process for switching, and find out whether you can simply start as an analyst in the IB or whether you'll need to go through a formal process including interviews etc. Make sure not to do this too early, as it will look like you haven't given CB a shot, and make sure you are still putting 100% into your work in the CB.

If you can, try and get placed in a CB team that does similar work to the IB, such as debt finance, structuring, modelling etc.

Oct 6, 2020 - 2:38pm

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