S&T to IBD?

Hey all - curious if anyone has experience moving from a sales seat (rates/credit/equities) to IB coverage. Assume this is at an American BB. How would one navigate this without burning bridges with their desk? When is the ideal time to move (i.e, a year in? two years in at asso promo?). 

Some problems I see:

  • Probably have to apply internally for the seat with a spot opens up in coverage; but, i) might seem rather abrupt to bring it up to the team and ii) if you tell the team you want to leave for IB, and don't manage to secure the opened seat, you're probably in a bad spot come bonus time. 

  • Say I'm an An2 in a sales seat; would I join coverage as an An0? Or an An2? 

  • If you're on an analyst programme, do HR try to keep you locked into your seat? Are there any other difficulties?

  • How does coverage view someone from a sales seat? Not interested in capital markets (even LevFin - seems like exits are closer to financing/credit side of investing). Interested in coverage of growth areas of the market (ideally TMT, HC, but also would be interested in Nat Res/Industrials - latter groups because climate change/renewables focus).

Goal is to get to IB and exit to a public markets / HF role at an equity L / S. Noticed that there doesn't seem to be respect on buyside for those in sales seats like there is for IB analysts - despite doing much more relevant work and having to generate trade ideas.

 

Delectus veniam nemo non accusamus magnam ipsam. Itaque sunt eveniet non rem incidunt sapiente inventore sit. Optio id nobis sit quia et consequatur iure officiis. Est necessitatibus laudantium consequatur est hic quibusdam est.

Array

Career Advancement Opportunities

April 2024 Investment Banking

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

Overall Employee Satisfaction

April 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

April 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

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $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
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
GameTheory's picture
GameTheory
98.9
7
dosk17's picture
dosk17
98.9
8
kanon's picture
kanon
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
DrApeman's picture
DrApeman
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...”