At what point does it stop making sense to lateral/"upgrade"

I was wondering at what level did it not make sense anymore to try and lateral for better chances at a potential placement in PE? I would understand reneging for a top tier BB or EB from a no-name or lower MM but at what point does it no longer make sense? Or is there always sense in it?

For example, let's say someone was at a Wells Fargo for BB or in MM land a William Blair. Does it make sense to try and lateral up to say a slightly better firm like a Citi or a Jeffries respectively? Or does it only make sense if you can land a top firm but below that your MD/group matter much more?

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