Q&A - Movement in Finance: How to Lateral Into, Between and Out of Investment Banking
Hello All! This Q&A is intended to address all of your questions about getting into, moving around within, and how to get out of Investment Banking. There are similarities and nuanced differences for trying to break into banking as an experienced professional at different levels be it analyst, associate, VP, etc. Once at a bank, it usually takes people anywhere from 12-18 months to figure out if "this is my home" for the next 5 years. Many people's first lateral position is just a stepping stone to their ultimate ambition, whether it's to a different type of bank, a job on the buyside (PE/VC) or to get into a great Corp Dev or start-up role. Attaining these different positions may require knowing certain people, extending your network, cold calling, leveraging client relationships of your current bank of employment or building a completely new skill set you don't yet have. As someone who has lateraled across different firms in banking, helped many friends and colleagues break into banking, and supported many trying to break out into their next gig, I have a swatch of experiences and advice I'd love to share with the WSO community. I myself have also almost taken positions outside of banking ranging from the buy side to corporates. As anyone who's done this job long enough will tell you, you always need to keep your options open and your relationships fresh. Ask away!