Struggling to quit banking. Currently with tier 1 BB. Don't receive calls to interview except banking/buyside

So I've been wanting to quit banking for close to a year now. I'm currently an associate at one of the BBs but don't seem to receive any calls for other roles except buy side/other banks. I am very keen on exploring almost all other finance roles including Corp Dev, strategy, investor relations, FP&A including taking a bit of a paycut.

I am aware of being in the fortunate position of having a job with a BB but honestly I've been trying to get out for ages now and it seems impossible.

Am I thinking of this the wrong way?

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Comments (5)

  • Analyst 1 in IA
Oct 7, 2021 - 8:10am

I worked in FP&A and IR before moving to a BB. Feels like you're waiting for roles to come to you vs. the other way around, which I think is the wrong mindset. Unless you're trying to join a large corporation, you need to be putting yourself out there for these roles because more times than not, they'll at least set up a phone call to talk with you. Apply to these roles and reach out to current employees of the firm on LinkedIn at those specific locations. These individuals are likely much nicer and more willing to help, plus actually have the bandwidth to do so. Good luck.

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  • Research Analyst in HF - Other
Oct 7, 2021 - 2:14pm

You'll need to be proactive and reach out. There's no reason you wouldn't get the jobs you want easily. They'd love hiring you, but they probably don't think you're interested in the large pay cut that moving to those jobs entail which is why they're not reaching out.

Just be informed it's not a small pay cut, especially with the new banking boosts. You'll be losing 50%+ more of your all-in comp.

Oct 7, 2021 - 3:45pm

Don't rely on HHs. Do your own research and outreach. Corporate roles you often just apply on websites, the jobs are usually posted. I made the corporate switch earlier this year after 5.5 years in IB + PE, and only had 1 interesting opp come from a traditional HH, everything else on my own outreach or inbounds from in-house recruiters themselves. 

  • Associate 3 in IB-M&A
Oct 7, 2021 - 4:02pm

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