Moving to a larger bank, corporate development, corporate finance, business schools, maybe VC depending on your group. Traditional PE/HF roles would be tough because recruiting is too name-driven. So if you want one of those, your best bet would be to move to a larger bank first.

What sort of exit opportunities are available from those super regional IB arms?

They’re viewed similarly to other middle-market / regional banks. So, a definite notch below the BBs, EBs, and even the top MM firms, but still better than something like a regional boutique with only 1 location and 10 people in the office. It is pretty tough to switch banks between an internship and full-time role these days, but my advice would be to focus on regional offices and “In-Between-a-Banks” like Wells Fargo, HSBC, etc. because the quality of interns there varies a lot more, and they may not be able to fill their full-time class entirely with interns. There are some good tips in this article which apply not just to last-minute recruiting, but also this type of switch:

https://mergersandinquisitions.com/last-minute-investment-banking-recruiting/

I have an unrelated question and would appreciate any insight. What is the reputation of regional banks investment banking arms (Think Key, PNC, SunTrust/BB&T, USBank etc)

Any advice on using summer analyst stint at regional to leverage FT at MM/BB?

Obviously networking but anything additional? I come from a non-target.

Thanks so much. All your content has been amazing over the years.

I think you should have a good shot at those banks in London, but it’s always a challenge if you’re applying for FT roles without having interned there first. Personally, I would just apply and go for FT roles at BB and EB firms. And if nothing works out, think about the regional boutiques.

Great article. I would like to ask how you would see my chances for a FT graduate position within IBD at GS/JPM/MS in London.

I am doing masters degree at Oxford/Cambridge with top grades and great extracurriculars and I have 3 previous summer internships – no name boutique where worked on £20m transaction, IBD summer analyst at BNP Paribas and IBD summer analyst at Lazard (did not convert for full time offers due to office politics/lack of luck).

Deciding whether to accept a full time offer I received at a regional bank outside london with low salary or whether i stand a chance for full time at bulge bracket. Thanks.