If I start as an IBD associate at one bank, and two years into it, decide to lateral to another, will the second bank hire me as a third-year associate, or will they make me start from the bottom rung?
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They will hire you as a third-year. If the economy is doing really well they might offer you a VP promote to entice you to lateral.
Thanks wallstasks
For IB Associates: Expected to lose year(s) of seniority on lateral? (Originally Posted: 09/27/2012)
I've heard that if you lateral from a smaller bank to a larger one, you usually lose a year or two of seniority. I'm trying to discern whether reasons given such as, "based on personnel needs, at the more senior level (A3), we are fully staffed, but have space at A1-A2" are legitimate (paraphrasing).
I wouldn't say it's "expected." I think whenever you make a move, there's a negotiation. It's less about what's "expected" and more about what you need vs. what they need. If they take a title from you but make it up in comp, that's a personal choice. If they don't, then you ask yourself is it worth taking the job.
There's so little common sense on these forums. Congrats dude, you're a grownup. What's "expected" doesn't matter. There's the game and you're in it. Take what you can get or sacrifice what you need to, it depends on the situation.
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