Advice needed for analyst trying to lateral
Currently a second-year analyst at a no name boutique in a Tier-2 city, will be promoted to associate next year. Realized my current bank’s comp is way below the market and area we are doing is too niche, have been trying to lateral to any analyst positions I see since this summer. Was able to land several interviews through networking with people in the teams have opening but has been ghosted a lot after first round. I’m thinking about taking an MBA as a backup if I cannot successfully lateral by the next summer since I believe my chance to succeed will be lower as my YOE goes up. Am I right? is MBA a good option for me? Or I just should be patient to wait another hiring wave although I will become an associate next year?
Based on the most helpful WSO content, here are some insights and advice for your situation:
Lateral Moves and Networking:
Considering an MBA:
Timing and Patience:
Alternative Paths:
In summary, both options have their pros and cons. If you believe an MBA will significantly enhance your profile and open up better opportunities, it might be worth pursuing. However, if you think you can lateral successfully with more time and effort, staying patient could also pay off.
Sources: Analyst at 27 or head to B school?, Lateral hire from another consulting firm to MBB, Am I being greedy? LMM to MBA, https://www.wallstreetoasis.com/forum/private-equity/thank-you-wso-community-qamy-story-target-state-school-non-mba-masters-mm-ib?customgpt=1, Should I Just Give Up
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There is not really a one size fits all scenario for laterals because it is often such a crapshoot/numbers game. With that being said, if you are struggling to get past first rounds now, it is unlikely that will get easier as you are interviewing for associate roles, so an MBA "silver bullet" might not be a bad idea. If your pay is that far below market, I would continue applying and interviewing (maybe try throwing in some Corp Dev/PE roles if you are interested in those fields), hope for a hiring uptick in the next few months, save your money and pursue an MBA if unable to land anything. Hope this helps!
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