Moving from a MO function (risk/finance) to banking?

timeforchange's picture
Rank: Chimp | 11

Hi all,

Long time lurker, first time poster.

I would appreciate your comments/thoughts. I am currently an associate in a BB MO role (think risk/finance) and would like to move transfer internally to banking (preferably M&A).

A bit of background. I have been working in MO for about 5 years now (current role just over 1 year) and have genuinely enjoyed the work I have been doing. I am now at the point where I feel like the work has gotten mundane, not being challenged anymore, and feel as though I need a career change. I like the firm I work for so would like to stay internally. I guess it would be an ideal time for me to get an MBA, but a combination of personal/financial circumstances don't allow me.

A few questions from my side:

  1. Is an MBA required for me to lateral at this point?
  2. If I were to start applying for roles internally, would I apply for Analyst or Associate level?
  3. Would it be easier to network internally or try and move externally? I do like my firm, and would like to stay here for now.
  4. Are there any other steps I can take (speak to manager, speak to HR) that could help put me in front people that have the ability to hire me?

Appreciate any comments/feedback!

Comments (3)

Aug 14, 2018

PM me

    • 1
Aug 15, 2018

Some answers to your questions:

1) MBA: No, it is not necessary, although a top MBA program could obviously help. MFA can also be a good way to do it, and I know there are programs you can enroll in for MBA and MFA that you can do while working at your current job (I imagine based on the description that it isn't a job that takes up all of your time).

2) You may want some internal advice for this. Different banks will have different thoughts. Some may see your current experience as not transferable/super relevant to the IB job and want to put you in as an Analyst, and others will see the years with the company and think Associate. This is also an area where you can negotiate a bit around what year/classification you come in as, depending on how much leverage you have in the interview process.

3) I would definitely first begin with networking internally. If you're well respected in your current group, that will transfer over well and help you get the role with your firm. Big firms like that always like to keep the "lifer" types around if they can.

4) Without being more familiar with your firm's culture, I can't make great recommendations here. Only advice is that if you want something, you'll obviously have to ask, since I imagine your bank won't be actively looking for people in your role who want to move to IB.

Had a friend in a similar situation use this service to move from a middle office role to BB IB, in case that's helpful at all.

    • 1
Sep 16, 2018