Lateral Recruiting Process

Hey WSO,

I've been using this site since I was an undergrad and I've always found it to be a source of great advice. I am currently working at a middle market investment bank as an M&A Analyst. I like my group and the work that I’m doing, but I am looking to lateral for the following reasons:

I think in order to transition to the buy side I need to break into a larger bank, or a very well-known boutique. My current shop has a relatively low volume of live deal flow, certainly compared to a bulge bracket. Additionally, the bank I work for does not promote internally within the M&A group, so after three years I would be forced to leave.

I am looking for some insight into the lateral recruiting process. For those who have made a lateral move as an Analyst, did you use headhunters, apply through a company website, utilize networking events, employ other methods? I’m also considering a move to a hedge fund as an Equity Analyst. For those who have experience in that regard, I would welcome your thoughts.

I look forward to hearing your nuggets of wisdom.

 
Best Response
MJK:

As far as I know--note I know only one or two people in this situation, so my sample size could be incredibly not-representative.

Same I only know of two, but have heard anecdotally of a couple others. All got reset as first years. However, these were all MM(RJ/SunTrust/PJ) or no-name boutiques. Perhaps if you were coming from someplace like Baird/Blair/Jefferies it would be different?

Idk, does anybody else have any insight?

 

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