Dead Market for Lateral Opportunities
Hello,
I've been on the prowl for investment banking lateral analyst opportunities since the start of this summer, but the opportunities at the BB/EB/top-tier MM level have been very few and far in between. Would really appreciate any input that other investment bankers can share, either on a macro-level or perhaps more bank specific.
Is the market for lateral hiring not good because of the economy and drop in IB revenue many banks are seeing this year? Did a lot of banks overhire in previous cycles and therefore are overstaffed currently?
Also, I understand some banks are paying bonuses in Q1 now - is that a more opportunistic time for openings as analysts take off after getting their bonuses? I thought that would be the case for this summer, but it didn't turn out to be that way.
Thanks.
I know at my MM way fewer people quit after bonus season than last year for a variety of reasons. But I'm seeing a number of lateral opportunities come across my inbox still. Just got one today for Harris Williams actually.
I found the same thing, and chose to lateral out of banking into the tech world. I wrote a book about it at http://financeto.tech/ Maybe you would find it helpful and I would appreciate any feedback. as far as what I am hearing this year in MM, there is too much contraction across the industry coming from the top, for people to want to take in a lateral. For you to be in a position to consider lateraling and not being worried about your own seat I fell like is a rare position to be in this season /
I'm seeing the EXACT same thing! I'm looking to lateral into an IBD Associate role and I can confirm that there are much fewer positions this year than last.
I've talked with several head hunters who told me that not only are banks not looking to hire, many are cutting their teams. Ive submitted several applications thus far and haven't even had as much as a first round interview. Last year I had tons.
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