Advice to lateral this summer As1
Hey guys,
Currently a first year post-MBA Associate at an EB in NY and looking to lateral this summer. I really dislike the culture and people. Have a few other firms and groups in mind. What is the best way to make the move this summer? Obviously not great timing with the downturn/ layoffs. Would appreciate any insight from anyone who has had experience with this. Based on LinkedIn seems like people move in July/ August after one full year.
Should I reach out to to the lateral recruiters at my target banks and get on their radar?
What is timing for this type of process? Does it happen quickly in the summer
What are interviews like? Do you need to prepare for the standard technicals and behaviorals or is it focused on your experience and resume?
Thank you for the help
Bump
Bumpp
I went through this process last year - it's very doable. Are you looking to join a particular group or remain a generalist? I'm assuming you graduated from your MBA in summer 2022?
I would say it's typically easier to do when you have some experience on a particular sector and maybe that comes after a year unless you can get the staffers and senior bankers to staff you more to one area at your current shop.
I would reach out to recruiters and members of the groups that you're interested in joining to get an idea of headcount right now. Then stay in touch with them regularly over the next few months so you're top of mind when they do have a spot.
You can expect a modeling component at all EBs if that's what you're looking for, so I would stay sharp on that, and be able to clearly convey why the current bank isn't a fit for you anymore (will need to be a good story since it has presumably been a short period of time).
Thank you so much!
Yes - ‘22 MBA grad. Unfortunately most of my staffings have been in one industry, which I’m not thrilled about. There are a few other groups I’d prefer to join, though I’ve had 0 experience in either of those to date. Is that a plausible story to tell as to why the current firm isn’t a good fit? I.e. generalist model but little to deal flow in industry X or lack of staffings through the generalist pool for industry Y?
Is there any concern about confidentiality when reaching out to recruiters or alumni at other shops? If it somehow makes it way back to the current firm
Try to focus on transferable skills and speak well to the relevant deals you've worked on. Take time to improve your modeling, as many groups may have a shortage of openings now anyways
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