Boutique Lateral Options
Guys,
I am currently working as an analyst at a boutique looking to lateral to a BB or a large MM bank. What are my best options to do this and does anyone know which banks are looking for laterals?
- Went to a non-target but top 50 overall
- 3.7 GPA
- 2 previous AM internships
Any advice would be appreciated.
Thanks.
a lot of networking is i think the only answer people here can give you
I know a guy who went from boutique to strong west coast MM and he did it literally by just dropping his resume on some career sites.. there was a decent amount of lateral activity happening last year because of the smaller FT analysts classes at so many shops, but if the numbers being thrown around this forum are correct, then the banks are working to correct their analyst shortages, thereby closing the window on lateral opportunities. However, where there's a will, there's a way..
lateral from boutique? (Originally Posted: 12/17/2010)
I'm going to be working full time at a known but not 'elite' boutique investment bank in NYC this coming summer (along the lines of Cowen, Sagent, Peter J Solomon) with the ultimate goal of working in MM PE. Is it worth it to try to lateral to a BB or 'elite' boutique? I realize headhunters don't target boutiques as much as BB's, but I've also heard you could potentially have better deal experience/exposure as well as lifestyle at a boutique. Any thoughts?
All are good boutiques - have heard Cowen slipping, Sagent and PJS both very reputable especially in their respective industry focuses (Sagent - tech, PJS - consumer/retail). Think MM PE will be harder than coming from a BB or a GHL/LAZ/EVR, but not a far stretch by any means.
No, definitely no need to lateral. You'll be just fine for MM PE, and perhaps better positioned than your buddies in the bulge bracket because you'll be working on deals with those same MM PE firms you want to hire you for 2 years straight. You'll also have senior bankers that know you name and have strong contacts in MM PE they can call on your behalf. Relax, you're all set.
Lateral from boutique to larger bank (Originally Posted: 12/12/2009)
Got a few offers from some OCR boutiques already which is pretty early and I'm already thinkin', if I strike out with BB's like I did last year, what are the chances that I can go from a boutique to a larger bank later on as a lateral? I hear that there's a lot of increased hiring which might be good later on as people leave and they need experienced 1st-2nd years to fill the spaces? What do you guys think, thanks.
Honestly, I think after 1-year of banking that you'll be so sick of long hours that the mere thought of starting over would be terrifying. Banks would be unlikely to bring you on as a straight lateral as you'd still need to be re-trained under their methodologies and adapt to their culture.
My advice would be to accept the boutique job with the intention of completing your 2-year analyst stint. If you decide you want to lateral and you can find a bank to take you, that's great, but definitely don't expect it.
It can be done, but it isn't common...
Even if the boutique is reputable it's difficult to lateral from a boutique to a BB. It's possible but the chances you have are few and far between. Sometimes they have one opening or something for some reason during the off-cycle season but they fill it with a recent college grad. I do know someone who went from a ok boutique to a top MM firm, but that's MM not BB obviously.
You're better off doing 2 years there > PE or B-school rather than always looking to transfer... you won't be able to focus on your work always thinking bout moving
I agree - do B-school first then enter as associate. You'll have a leg up with the boutique experience as plenty of BB associate come from non-banking backgrounds.
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