For a career switcher at a networking event, what are the indicators that someone is ready to make the switch to banking?
If you were to point out three key traits / knowledge suits. what would it be?
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I would say the key thing is the ability to subtly address the matters below in front of the potential recruiter:
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Why banking? Let's be honest, it is almost all about the thick comps. And these money hungry kids all BS about how much they like Finance. To stand out, I think you may take a more genuine approach on the personality fit (e.g. You are a workaholic and you like to have your schedule stuffed for the whole day. You crave for steep learning curve and is also curious on knowing more about how exactly is this fund raising works. Banking could feed you in both ways.)
Be able to deal/work with almost every type of people
Myth buster: I dont think there's solid finance knowledge required to breaking into banking. As long as you know most of the technical knowledge in the WSO interview prep (You may take a look at the content page, for free), I do not think there is a need to drill further downwards.
Staying tuned to the market news is a plus but it is very difficult for people whos not in the industry
Just my two cents, and hope that helps.
Thank you, I can definitely see the value of doing all these three things.
You might also want to consider playing bold by telling them you are very interested in [industry that you really like, e.g. gaming, TMT, hospitality, real estate, etc.] and you want to get into that particular team in IBD, and might consider the possibility of getting to a PE of that industry in certain years.
Someone here may think I am insane to advise candidates telling recruiters they may leave the bank soon if got hired. But to me it is a more realistic and honest answer for people who demonstrates genuine interest, rather than telling the typical "I like finance" story.
That said, it is very subjective and you should choose either way you feel most comfortable.
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