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Who has lateralled to another bank after one year or two years?
 

pogobanker's picture
IB
(Monkey, 36
 
Points)
 on 2/11/08 at 12:54pm

Hi all,

I have a question for most of the bankers. Who has lateralled to another bank after one year as an Analyst; who has lateralleed after two years? What were YOUR reasons for lateralling? How did your 1st employer react after you left? Still friends or get the F out? How did you go about interviewing even though you were working? How has your experience at the new bank compared to the one you had at the previous bank? And lastly, do you regret what you did or are you very glad that you made the decision?

Thanks! Any input would be very much appreciated.

Tags:
pogobanker's picture

lateraled to a BB would be preferred

IB
(Monkey, 36
 
Points)
 on 2/11/08 at 1:35pm

Experiences where you've lateraled to BB would be preferred.

fordhammasta's picture

I tried to lateral, but they

IB
 
Points)
 on 2/11/08 at 9:47pm

I tried to lateral, but they said it was a forward pass...

dosk17's picture

People lateraling from

IB
 
Points)
 on 2/11/08 at 10:18pm

People lateraling from MM/boutiques to BBs, people lateraling around within BBs, even some friends lateraling from MM/boutiques to other MM/boutiques.

In general, the reaction is never good. PE/HFs are not really seen as "competitors" so although they won't be happy if you leave early for one of those, they're less pissed than if you jump ship to another bank.

Despite the bad reaction on the part of the first employer, most of my friends who have switched banks have actually been happy about it. Going to a BB from a MM will usually result in broader access to exit opportunities and such.

Generally it's a "Get the F out" type scenario because they don't want you dealing with confidential information if you're going to a competitor.

Interviewing while working: thousands of excuses. Dentists, doctors, pipes burst at home, etc. etc. etc.

pineapple's picture

don't forget the "my mother

(Monkey, 55
 
Points)
 on 2/12/08 at 9:55am

don't forget the "my mother is sick and i have to drive her to the doctor" excuse.

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