At junior levels front office banking professionals are taught and acquire a relatively fungible skill set that makes them appealing to numerous industries. They have a tremendous amount of work thrown at them. They must learn to prioritize, be detail oriented, proactive in their thought process and able to perform under stress. Typically they aren’t learning industry, sector or client specific information until later in their careers but in the interim they are readily adaptable and great candidates for almost any other industry. I have seen analysts who have done everything from VC, pro sports team, teaching, large corporations etc. They use the two years to “find”themselves and figure out what they really want. For some 100 hour work weeks are what they aspired to and they hang in for the payoff of IB but for many they use the experience and credential to recalibrate.
More seasoned bankers typically become well suited for general management, industry specific to their experience. For example you often see experienced bankers go off and work for their clients and or become CFOs within the industry. Sales and trade staff often go to work for investment companies, hedge funds or start their own business.
For both groups I think there are far more options then limitations given the combination of perceived intellectual “pre screening” followed by a foundational skill set leading to in depth knowledge and or relationships within a narrow sector or industry. Good bankers typically can find opportunities although there is significant burnout and every few years managers don’t let a good crisis go to waste, and RIF high cost seniors to make room for rising talent.
I will also mention I know several senior bankers who have become teachers in lower socio economic areas or endeavored to give something back. The industry has produced its scoundrels but certainly far more who are appreciative of the opportunities that they have been blessed to experience. Second careers tend to be all over the place.