Hey guys, so brief background, I'm at a top MM bank in NY on the energy (midstream/refining, not Oil & Gas) team, and I'm looking to make the shift to a different group at a BB. I'm literally open to any groups outside of RE, FIG, Energy and willing to start over as a first year analyst. Any recommendations as to how I can accomplish/address this?
The reason I'm looking to do this is improve my exits, particularly into HF
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Networking. You can try to apply for posted jobs at EB's (low odds but possible) but going to another BB without any contacts working in banking at those firms will be difficult i.e. applying online probably won't get you anywhere. Other than your school's alumni network, try using LinkedIn to search for people who made moves from your current firm to a BB (they might be willing to help you out).
+1 SB, thanks for responding. Any tips for carrying on the conversation, or any way to find out which groups are hiring? Also, how much of an impediment is it switching to a different group? If you are willing to basically be a first-year analyst again, it shouldn't be a real impediment right? (or maybe it is, would love to get your thoughts)
Lateraling from specialized industry group (Originally Posted: 08/01/2014)
I'm a first year analyst at a mid-tier BB who just started. I interned in FIG last summer, wasn't too interested in the work but decided to come back. I have heard from fellow 1st analysts that buyside recruiting (especially PE) is very difficult given the specialization. There are three scenarios I can come up with:
1) I enjoy FIG and decide I want to stay within the field and go for FIG PE opportunities.
2) I hate FIG and try to switch groups within my bank (preferably after 1 year?) to some of the things I am interested in (TMT, Consumer, Sponsors)
3) I hate FIG and try to lateral to another bank to join one of the groups mentioned above
How hard is it to switch groups within banks after the first year? Would it be easier to just try to lateral to a different bank to work in a different group? My motivations behind moving are not solely exit opps -- they are more related to interesting industry coverage. Thanks.
I think this is where you went wrong..
4) You try to lateral to a jp/GS/ms in fig and recruit your 2nd or 3rd year
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