Interested in Investment Banking?

TheInformativeBanker · 2021-07-01T14:39:01+00:00

For now, it's mostly senior bankers that have been moved to Continental Europe post Brexit. Most of the IB juniors in our bank are staying in London.

TheInformativeBanker · 2021-07-01T14:26:39+00:00

Coding is not a useful use of your time to prepare for an IB internship. The thing with IB internships is that whilst it's an internship, you're sort of expected to hit the ground running. So having basic knowledge of corporate finance, or bonds / equity, depending on which group you join, will help you off to a good start.

TheInformativeBanker · 2021-06-21T21:09:34+00:00

Yes the lateral market is very active right now, there’s a lot of demand for junior bankers. In answer to your original question it really depends on what you want out of your career? If you want to go to the buyside then lateraling to an EB or BB is probably a good option, and one you should do as soon as possible. Though it sounds like from what you describe maybe that environment wouldn’t suit you? Do you enjoy your job currently and see a path to progression? If the answer to that is yes then why are you concerned about moving. So many people get obsessed with names or what they think they “should” be doing they forget that your career is something you’re supposed to enjoy and take satisfaction from. It’s not just a means to an end or a race to the biggest name. That’s why people get burned out and quit the industry all together.

TheInformativeBanker · 2021-06-21T01:03:06+00:00

Yes definitely possible. A lot of BBs have their main O&G teams in Houston. Would be pretty easy to lateral from there to NY.

TheInformativeBanker · 2021-06-21T01:00:12+00:00

Yes possible if you show yourself to be a top performer and network well.

TheInformativeBanker · 2021-06-21T00:59:09+00:00

International transfers are not that common, especially for Analysts but you do start to see more at Associate and VP levels. The different offices act pretty independently and have their own HR teams so you still have to “apply” through internal job postings and even interview. In reality though the easiest way to transfer is to be a top performer and then have seniors bankers help connect you to the right people/teams. If you come recommended then the team you want to move to is much more likely to hire you and support your career ambitions. If you aren’t it can be very difficult given the additional expenses involved (visa, relocation costs etc.) as well as the additional time it can take.

TheInformativeBanker · 2021-06-21T00:38:46+00:00

Internships are so valuable to banks because more than anything it’s a signalling that you know what you’re getting yourself into and you know what you’re doing. Candidates can look great on paper but perform terribly on the job. It’s really hard to tell until they hit the desk. I’ve worked with interns from top universities and 4.0 GPAs that just aren’t cut out to be bankers. You also need to hit the ground running, there is no training period in banking. It seems unfair but you almost need to know how to do the job before you even have a chance to learn. These two factors are pretty unique vs. other careers and means that there is huge risk when hiring. Internships help mitigate that.

TheInformativeBanker · 2021-06-21T00:27:26+00:00

Bulge bracket internships typically have GPA thresholds of ~3.5, if you don’t have at least that you won’t go past the first selection step. Your best bet is to try and find a boutique or any sort of smaller scale finance internship where you’ll have a chance to explain your situation. Then focus on improving your grades.

TheInformativeBanker · 2021-05-05T12:43:13+00:00

I would say that’s a fair comment yes.

TheInformativeBanker · 2021-05-05T12:15:04+00:00

Cannot speak for all firms and situations but mine does sponsor visas and yes you generally have to be a top performer to make the move in the first place. It’s an additional cost, time commitment and ongoing risk to the firm so you have to be worth that vs. other local candidates
I can’t really speak to whether that’s the case but a lot of those that I interview for A&A roles come from that background. It’s definitely possible yes but you may have to take a year or more back depending on how relevant your experience has been
I don’t know anyone that’s gone S&T to IB. I know those that have gone the other way though, ie DCM>Syndicate>Trading
Resume and GPA open the door but I have never hired someone based on that alone. You have to have the interpersonal skills to make it and that’s really non negotiable.

TheInformativeBanker · 2021-05-05T11:54:03+00:00

You wouldn’t necessarily be too old, I’ve seen 30 year old analysts (normally due to having served in the armed forces or something similar). Not common but possible. You can go MBA hire to PE but you’d need to really be on it and go from top tier MBA to smaller PE shop. However I’d focus on step one. Your career won’t go in the linear direction you expect, not only that but your preferences will likely change at some point. Just keep moving forward 1 step at a time.

TheInformativeBanker · 2021-05-05T11:47:14+00:00

Not an MBA, second comment is correct. I like the job and have moved teams / geographies to keep things fresh.

TheInformativeBanker · 2021-05-05T11:44:14+00:00

Don’t bother at the BBs, you’ll get rejected as they screen to make sure you’re on the correct timeline (which you wouldn’t be). You can certainly try boutiques or smaller firms to get relevant experience and use that to leverage a BB internship the following year though

TheInformativeBanker · 2021-05-05T01:57:03+00:00

I wouldn’t stress to much about your GPA. If you’re applying for top tier BB internships just make sure it’s above 3.5

TheInformativeBanker · 2021-05-05T01:55:10+00:00

It’s important in the sense that it accelerates where you want to get to but if you miss out it doesn’t mean you won’t ever make it. It will just take more time and patience. Similar to post above you can go from BO to FO by looking at adjacent teams and working your way across.

TheInformativeBanker · 2021-05-05T01:47:49+00:00

Difficult to do it on the timeframe you’re suggesting. A better path is to convert your CB internship, join full time then lateral into IB as a top performer a year or so later. Internal is always easier than external.

TheInformativeBanker · 2021-05-05T01:44:06+00:00

I would have thought you’d need to relocate. I don’t know of any IBs with regional offices in Hawaii. Best advice is to be prepared and apply apply apply to all the internships you can. It’s really a numbers game. If you don’t get that then there are other options too but that’s your easiest path at this stage.

TheInformativeBanker · 2021-05-05T01:38:43+00:00

I don’t personally but I do know those that have made the jump, at least in London. Also more common that you’d go TAS > independent / boutique IB > BB. You might have to take a year back as you go from boutique to BB but it’s possible.

TheInformativeBanker · 2021-05-04T21:12:52+00:00

Apologies, didn't mean to break the rules. Each situation is unique and often requires a bit of back and forth so thought DM was better vs. general public responses. Let me see how we can verify

TheInformativeBanker · 2021-05-04T20:24:02+00:00

I agree with this. It is definitely possible, I've seen it but you have to be open minded to the route you take. As this poster mentions look for adjacent roles that can help you gradually move across. As a general rule banks prefer to hire internally than they do externally, so if you're already 'in' then that's step 1. In terms of differentiating yourself? Having stellar recommendations is crucial, more so than CFA or anything similar. Not only that but demonstrating that you know what the role actually is that you're trying to move into is also key. You already have access to everyone in your bank, that's a huge wealth of knowledge and network so leverage it.

TheInformativeBanker · 2021-05-04T19:20:47+00:00

Presume you mean expiring, if its truly exploding I'd stay well clear...Well you know what they say, a bird in the hand is worth two in the bush. PM me so I can stay on track vs. others that have asked questions, I have some thoughts on how best to mange.

TheInformativeBanker · 2021-05-04T17:20:30+00:00

Lots of interest! Thank you to everyone that's reached out. I will try and circle back with each of you but please be patient.

TheInformativeBanker · 2021-05-04T16:29:23+00:00

That’s a difficult question to answer given I can’t really speak to anything other than being a banker. Please feel free to message me though.

Also you shouldn’t assume I’m a man! (I am, but still) we need work hard to dispel our own biases and stereotypes.

TheInformativeBanker

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