Lateral Opps From FIG
Hi all,
Without giving too many details I’m currently a first year working in fig at a MM (depositories). My goal has never been to work in FIG, it’s just where I ended up getting placed, and I’m hoping to exit to a non-FIG buy side role after a 2 year analyst stint. I think it’s important to stay in my current role for at least a year, but I’m ~5 months in and already thinking about what comes next. I’m looking to set myself up for success, whether that’s networking with the right groups or training to understand non-FIG technicals / LBO / accr/dil models better.
I’ve started to think about potential options for after my first year and boiled it down to 4:
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Stay in the MM FIG role and try to recruit directly into MM PE (non FIG) after 2 years after having done an immense amount of LBO / PE prep (worried this will be a very difficult uphill battle)
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Try to recruit internally after a year to a TMT / fintech / lev fin / or another more standard group, although I’m worried I’ll step on a lot of toes in the process of requesting a change
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Network and prep my ass off to try to land a role at a MM (more realistic) or BB (less realistic) in a less niche group
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Stay focused on my current group / role, become a top performing analyst, and try to lateral to BB FIG and exit to PE directly from there (I’ve heard some BB FIG exits are great depending on the group / analyst)
Since I can’t really talk to the seniors / other analysts in my group about this I would love to hear thoughts, all opinions are welcome.
Hey there,
Sounds like you've got a lot on your plate! But don't worry, you're not alone in this. Many have walked this path before and successfully navigated their way through. Let's break down your options:
Staying in your current MM FIG role: This could be a tough route, as you've rightly pointed out. However, it's not impossible. If you're willing to put in the time and effort to really understand LBO / PE prep, you could make it work. But remember, it's not just about the technical skills, networking is key too.
Internal recruitment: This could be a good option, but you're right to be cautious about stepping on toes. It's all about how you approach it. Be respectful, express your interest in learning and growing, and people might be more understanding than you think.
Networking to land a role in a less niche group: This is a solid strategy. Networking is key in this industry, and it could open up opportunities you might not have considered. Don't limit yourself to just MM or BB, explore all your options.
Lateral to BB FIG: This could be a great move, especially if you're able to become a top-performing analyst in your current role. BB FIG does have some great exit opportunities, but again, it will depend on the group / analyst.
Remember, there's no one-size-fits-all answer here. It's about what feels right for you and where you want your career to go. Keep exploring, keep asking questions, and you'll find your path. Good luck!
Sources: Why Should I Work in FIG Investment Banking?, Working in FIG (Financial Institutions Group) - An Overview., Exit Opps: BB FIG vs. MM Botique / LDN
I began my career in a FIG group and once had the same questions as you. Currently a tech VP at a BB in NYC. To start, it's important to know where your group falls in the league tables. Are you at a respected firm/group in a tier-one city (Think KBW / Piper)?
The transition is not as difficult as you may think so long as you have a clear plan and some direction.
Feel free to PM, as I understand this is a niche topic. I'm happy to discuss in more detail and walk you through not only my transition, but also those of other analysts in my former FIG group.
Hey thanks for the insight, I PMd.
Hi. Could you also PM me pls?
Any chance you I could also PM you?
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