Advice for IB laterals in this current market (Asking ANLs+ for advice)
Currently an IB Coverage ANL 1 @ CS
Looking at the news....what do people think (ANL+) about lateralling right now/soon versus waiting to the summer post bonuses when more ANLs potentially leave after bonuses?
Right now the lateral market isn't hot and given the situation it looks like people will look to jump ship at CS soon.....
Would it better to lateral in the next 2 mos or wait until after July (post-bonuses) to look, but run the risk of leaving post-severance period? This assumes lay offs would be before Q2 per guidelines.
Would appreciate thoughts, especially from the seniors lurking here or anyone ANLs and up and what they are seeing in their groups.
bump
What group
Do not wait to start preparing or participating in the lateral process. Our industry is completely fucked right now. You have banks failing, AND barely any any openings for IB analysts, AND many laid off BB and MM bankers competing for them, AND regular way employed bankers trying to upgrade competing for them, AND about to have a bunch of laid off CS and maybe UBS bankers competing for them, AND ongoing and future hiring freezes to contend with.
To put it bluntly, even if an analyst went 100% pedal to the metal starting today, I don’t know if any analyst is guaranteed line something up by August, let alone if they (god forbid) wait until July to start preparing. This isn’t a normal fuckin dandy year where you can dick around until almost bonus time then recruit for a couple weeks and you’re done. This is savagery.
Refresh on technicals, review your deals and contributions inside and out, make sure you can pass the modeling tests, update your resume, pretend to have hobbies again, get application and interview ready. As soon as a relevant opening comes you need to be ready to strike whether that’s in 2 weeks, or in May, or in August. None of us have time to wait.
What should incoming interns be doing at this point in time?
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Plan for any full time lateral process to take as long as three months in this environment. Like you said, perfect storm for the most difficult recruiting market. Everyone looking at the same three openings at random smaller banks.
Following
Literally every CS friend on LinkedIn just upgraded the account to premium
My team is looking for lateral analysts. Not going to share too much info publicly but drop a comment with your username and I’ll reach out through PM for a resume and maybe a call. Strong team in a coveted vertical.
AN1 - interested as well. @FTSA
Pm me, interested
Interested.
Interested, thanks for this!
Interested @boonsing
Thank you - can you please PM me? Much appreciated
Interested
Interested, please PM me, thank you!
If this position is still open or new opportunities exist, I would love to hear more about it / them.
Responding to the comment above:
@feliciathegoat
Thanks just got back to everyone so far
This is very kind of you. Would definitely appreciate a PM. @Corporate_Student
Same here - thank you.
Would appreciate a PM - thanks !
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