BB Internal Lateral Advice

Hi everyone,

I am currently a junior at a target school and will be joining a top BB (GS/JPM/MS) in their AM division as a fixed income research summer analyst. My initial goal was to get into a BB/EB for IB, but I was pretty late to the recruiting cycle and had to take what I could get. I currently work part-time as an analyst at a small boutique IB during the school year so I'm aware of what banking entails and what my work would look like. I enjoy working on deals more than I enjoy following the markets, so my long-term goal is PE.

I was really hoping to get some advice on a few options I am considering and the likelihood, strengths, weaknesses, etc. of each.

  1. Try to internally recruit during my SA stint to lateral to their IBD for full-time. This would be the most convenient but I'd be concerned about pissing off the people in AM and not getting a return offer anywhere at the bank.

  2. Stay in AM for 1-2 years, build more of a reputation at the firm, and then try to lateral. I'm not sure how possible this is or how frequent it happens but I think this would be the safest.

  3. Use my connections at other banks to full-time recruit for IB elsewhere.

I'm aware that my first priority needs to be getting a return offer and I am prepared to work hard to do so. I'm also aware that this may be a strange post given that people usually try to go from sell side to buy side, not vice versa.

Sorry for the long post, but I would really appreciate some advice on what you all think I should do and the likelihood of making this transition. Thank you!!

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