If you are a commercial banker considering a transition to investment banking, you’re not alone. In this episode I answer a question about transitioning from commercial banking to investment banking.
This is another short, mid-week episode of Finance Career Launch where we discuss a skill, habit or mindset that will help you advance your career in finance. Today we’ll cover a question from David (no, not me) about transitioning from commercial banking to investment banking.
Here are some of the questions David asked in our email correspondence:
Have you heard of anyone transitioning from commercial banking to investment banking? … general thoughts on the ability to do so? … familiar with anyone in investment banking with the CFA? … “ideal” age/experience level for making a transition into investment banking?
The lessons here apply to any career change or career pivot
No matter the transition you are trying to make, you need to show how you will contribute value to the team (industry expertise, client relationships, etc.). Yes, skills are often transferrable, but you might need to spend more time crafting your examples to convince people that this is true for their situation.
Keep in mind, you can use your current role to connect with people in the positions where you want to be. Start your campaign early (similar to the strategy Ben Fanning and I discussed in Ep. 037 for getting an internal role) and view it as a marathon, not a sprint.
In this episode:
- How client relationships and business development skills help make transitions easier (for certain professions)
- Why you should network with people in positions where you want to be
- The major hurdle David will have to overcome to make this specific transition from commercial banking to investment banking
- How an MBA can help certain career pivots, depending on the situation
- My thoughts on the CFA
- Using your current role and network to learn and keep your ears open for opportunities
- One specific strategy that makes it difficult for people to ignore you
- Transitioning from the Middle Market to a Bulge Bracket Investment Bank (Ep. 001)
- What do Engineering, Investment Banking and Corporate Finance Have in Common? (Ep. 033)
Music by Elijah from NOMADS