How difficult is it for a ER associate after a 2-3 year stint to transition to the banking side internally or externally to become an associate without an mba? Any comments would be greatly appreciated. Thanks.
I just don’t see how it is possible…
i thought ER associate was higher then ibank associate. i would think its easier to move from ER to ibank considering ER has to have more knowledge about companies.
Without an MBA will be tough. Why would they hire you when they can get a person with the same experience and an MBA through their traditional pipeline?
It’s been done at my BB firm. One of my buddies who was covering insurance companies went into IB in the same sector. It was an internal transfer and she didn’t have an MBA. She had 2 years of ER experience and she wasn’t even that bright. Anything is possible, you just gotta try.
I suppose if you have contacts in banking, an internal switch from ER associate to a banking analyst is possible…but ER associate to banking associate seems like a stretch, absent an MBA
I’m not saying to not try. Definitely go for it - but I don’t think it will be easy.
i’ve done ER and an MBA… 2 yrs of ER > MBA i’ve seen ppl make the switch internally and externally…
YoMama14 Wrote: ------------------------------------------------------- > How difficult is it for a ER associate after a 2-3 > year stint to transition to the banking side > internally or externally to become an associate > without an mba? Any comments would be greatly > appreciated. Thanks. You won’t be brought in as an associate at any of the bigger banks unless you get recruited from business school. As for an internal transfer, you’ll need to be currently employed, have great reviews, and be able to more or less network your way into IBD. Also, even if you’re within the firm, investment banks will still care about pedigree and make you go through a hiring process similar to what undergrads go through. In the current hiring environment, unless you have stellar qualifications, I’d say your chances are slim.
I actually have seen it more at higher levels, like from VP in ER to VP in banking. The industry knowledge is more relevant at that level in banking.
agreed with accountant23 there – i’ve seen this myself, but generally we’re talking about very senior people in ER. why? well, having the industry knowledge is one thing, but connections are another. at senior levels, it’s about building relationships with company management teams, and establishing a familiarity with capital formation via the vetting potential transactions, and communicating with the bankers through the deal vetting process. as a junior person, i’ve had the opportunity to do these things too, but definitely not in the same capacity as a good coverage analyst. basically, senior analysts are valuable to banking because of their industry knowledge and connections, so the transition is eaiser for them; research associates and below are less so, because they’re competing for jobs that focus on the diligence process and modeling, and the best candidates for junior banker jobs are other bankers…not research folks
anything is possible. i know someone who went from back office operations in derivative to private equity without any connections.
private equity firms have back offices too
In the UK, this would be no big deal.
bmwhype Wrote: ------------------------------------------------------- > anything is possible. i know someone who went from > back office operations in derivative to private > equity without any connections. Agree with numi. There is virtually no chance of this happening. I think the lotto has better odds…You must have missed the BO part of his PE job description.
no, he was a PE analyst. he was promoted to Associate after 2 years and now attend Lauder/Wharton
to be even more specific, it was a boutique merchant banking firm and he came out of DB Deriv Ops
DirtyZ Wrote: ------------------------------------------------------- > Without an MBA will be tough. Why would they hire > you when they can get a person with the same > experience and an MBA through their traditional > pipeline? I’ve seen it happen, even someone from sales. Working in ER you’ll get to know a lot of the players in your sector, and that network makes worth having from a banking perspective. my 2c