Can someone shed some light on when to best prepare for IB lateral recruiting for BB or EB, if I'm starting as an asset backed lending credit analyst at a BB in February. How do I approach my manager and when should I start looking? How do I better position myself for interviews?
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Do your best in your current job 1st, then after 6 months start networking with people inside your bank who work in your target group and explore with them the possibility of moving. The way to approach your boss, largely depends on what type of person he is.
non target + a role that has no relevance to IB? no chance. also im assuming this role is not in new york and probably a second rate city, aka horrible networking possibilities. you are pidgeonholed at a shit salary
Top 5 stupidest things I’ve read on here all month.
"Prospect in M&A" lmfao shut up you 1st year nerd get a job then talk
you are really mean to be honest . also congrats on commercial
What city?
Try to build your network internally at the BB. Key step is to make your team really like you, and then look to lateral after 9-12 months internally. Alternatively, work about a year and start speaking to head-hunters. Leverage your universities alumni network and target those at MM and boutiques.
Listen to this WSO podcast. Credit Analyst at JPM made the jump to the FO LevFin group.
https://podcasts.apple.com/us/podcast/wall-street-oasis/id1463441793?i=…
Thanks for the feedback guys. I'm landing a lot of IB interviews already over the past few weeks, this was a old post. The M&A prospect who commented on the post was upset that I told him it was hard to lateral from Citi Transactions and trade solutions into IB. I told him that if he's still in school, he should try to land summer analyst roles in the following order IB>capital markets>Corporate banking>Commercial Banking>anything credit, if his intention is to lateral into IB. However, he didn't take it well and assumes that Citi TTS places well into EB and BB M&A.
Mind me asking what was your process of getting IB interviews from your current role was?
I didn't do any networking, I literally just applied. I'm in credit, but not exactly commercial credit. Certain places actually house us under IB, unfortunately in my firm we're housed under the commercial bank. Unlike other IB credit teams, our product tend to be more transactional and typically driven by LBO. So, far most of the firm that I interviewed with are brand name LMM bank that has large balance sheet think SunTrust and etc. From conversation, it sounds like they do a lot of debt / credit centered deals, so they are happy with my experience. Even though I'm interviewing for a coverage team, the questions are still around debt stuff with a few typical M&A and LBO questions. I just got first rounds for a few real MM (Baird, Blair, Stifel) interview coming up in this week, so I feel good about being able to lateral into IB during this lateral recruiting cycle.
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