i made the move from a DCM group to swaps trading, its possible. its difficult no doubt but its doable, you just have to be willing to start at the bottom of the pecking order again bc whatever you think you know about markets/products will prove to be much less than anyone on the desk already.

 

It happens, not really common but it is possible. I'd guess either you want to network a lot to make a transition, or you'd have to go back to school.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

i've met people who've made that transition, but it isn't the easiest. i think some of them went back for their mba as a way to make the leap.

 

What would you say some of the potential obstacles are for such a move? Wont the interviewers wonder why you hadn't done the analyst program in the first place? Does any one have any suggestions to how one should go about making the switch. Realistically, you are probably a little over 1 year out of undergrad and apply for an MBA level position. Is firm standard recruiting better, or working with a head hunter?

 

it can be done as I just did it, a lot of places will look at you as a 3rd year analyst though. of course the questions are going to be why the switch from banking to S&T and if you dont have a good answer you dont have a shot at making the transition. I didnt find headhunters very helpful in my search but that could be bc I didnt meet the right one, firm lateral recruiters were much more helpful imo.

 

analyst26- can you send me a list of helpful lateral recruiters that can help me transition from ibanking to trading? where are you at now and how would you compare the ib vs. s&t so far? thanks so much!

 

at top 3 bb who went from lev fin to hy trading

those make sense bc lev fin ppl generally understand high yield products fairly well

i also know an m&A bankers who moved to a stat arbitrage desk

there are many ways in which valuation can help you succeed in trading, generally have to find a desk where it makes sense

 

1) Networking never hurts. It's good to spend time (although i don't know how much you have) to meet with traders, talk to them, and hopefully get in contact with their HR or something to get an interview

2) Generally if you want to switch departments they will have accelerated interviews (if you get one from the aforementioned networking)

3) Depends on how well you network, but i would assume it won't be too hard. If you want interviews from other firms, then that is a different story.

4) Meet with the desks and sit with them to see if it's something you're interested in. Also read up on the different products and see if you're interested / understand what drives hte market

 

I know for certain that it is possible at Lehman. They have a process that facilitates switching after the 2yrs stint and I have actually met ppl that made that transition.

 

I've met some people who have made the switch from Asset Management/IBD into Structuring (which at some banks is part of "sale & trading")

As a side note if you are getting IBD offers but not trading offers it might be that you are you are a better fit for IBD. Trust recruiters they are more than likely on point (its thier job to place people in the right spots). If your heart is set on trading work at being a top performing and I am sure you'll have an opportunity to make the switch after two years.

 

I asked some Canadian S&T MDs this question a while back. They looked at me like I was high on crack. While it may be a national thing for them, the rivalries in finance can start to look like the interservice rivalries in the military.

"Dude, not trying to be a dick here, but your shop looks like a frontrunner for the cover of Better Boilerrooms & Chophouses or Bucketshop Quarterly." -Uncle Eddie
 

Earum rem quia et voluptas animi. Ducimus molestias distinctio sit beatae esse corrupti. Eos labore dolorum beatae vel omnis. Aliquam dolorem incidunt alias rerum delectus quasi itaque. Soluta vel pariatur quia.

 

Necessitatibus amet distinctio hic cum. Nostrum et id voluptatem et sit fugiat. Eos consequatur esse non ipsam a ut cum.

Quas aut id esse numquam magnam excepturi. Quia possimus harum aperiam repellendus. Sed minima cupiditate delectus nesciunt cupiditate dolore nihil. Enim sed beatae ipsum quod corporis itaque.

Voluptatem reprehenderit nobis deleniti et unde rerum mollitia. Ut porro excepturi quia omnis vel. Veniam id cum similique omnis porro. Sunt nihil nesciunt sint mollitia at reprehenderit nesciunt. Aliquam reprehenderit adipisci voluptates est dolores et. Consequatur eius quae aut expedita.

Aut soluta delectus exercitationem dignissimos autem laudantium. Perspiciatis aut nam dolores id. Labore enim hic et assumenda officiis aut veritatis. Omnis dolor voluptas quisquam ut voluptatum. Atque voluptatem eaque quod. Eum non accusantium quo alias accusantium omnis maiores. Amet dignissimos omnis et nostrum molestias minus ut.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”