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jimbo777's picture

Lateral to a BB in a few years from a MM bank

by jimbo777 (Chimp, 2 Banana Points Points) on 9/28/08 at 10:45pm

Hey guys,

I'm going to start working as an analyst in an MM bank next year. Assuming I do well, does anyone know if it would be realistic/possible to move to a BB bank as an analyst in a year or two as a lateral hire?

Thanks

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CompBanker's picture

Honestly, not too sure you

by CompBanker Certified User(Senior Gorilla, 983 Banana Points Points) on 9/28/08 at 11:16pm

Honestly, not too sure you want to in the current environment. The BB may demote you back to a "1st year," in which case you'll have your full 2 years ahead of you again. After one year of this job, that is pretty daunting.

However, if your mind is made up, it is possible. You'll have to network your way in and you better be able to show well after a year on the job. I certainly wouldn't place a high probability on it.

~~~~~~~~~~~
CompBanker

jimbo777's picture

Thanks

by jimbo777 (Chimp, 2 Banana Points Points) on 9/29/08 at 12:00am

Hey CompBanker,

Thanks for that. I did an internship, got an offer and signed early b/c I wasn't given much time to decide, and didn't want to gamble given how hard it is to get a FT position anywhere right now. Do you know if my chances improve at all if I target the smaller elite boutiques? (Lazard, Greenhill, Evercore etc.)

-Jimbo777

b2's picture

We have some 25-26 year old

by b2 (Gorilla, 516 Banana Points Points) on 9/29/08 at 1:44am

We have some 25-26 year old first years because of the aforementioned demotion (from banks such as HSBC, ABN Amro, BNP Paribas, etc.) and also from demotions following an internal lateral after rising to an Associate in back-/middle-office.

ledger123's picture

if you work at lazard,

by ledger123 (Monkey, 39 Banana Points Points) on 10/1/08 at 2:05am

if you work at lazard, greenhill, or evercore, WHY would you want to lateral over to a BB???

you'll get get experience and can move onto PE from those banks, why stay an analyst?

cdw38's picture

into Lazard, Greenhill, Evercore

by cdw38 (Senior Monkey, 88 Banana Points Points) on 10/2/08 at 11:46pm
ledger123 wrote:

if you work at lazard, greenhill, or evercore, WHY would you want to lateral over to a BB???

you'll get get experience and can move onto PE from those banks, why stay an analyst?

He's saying maybe he wants to lateral into one of those places (instead of a BB), not from them.