BB to BB Lateral Tranfer (Lat Hire)
How common is lateral transfer for analysts from one top BB to another top BB? What is the perception of the analysts? When does it happen?
How common is lateral transfer for analysts from one top BB to another top BB? What is the perception of the analysts? When does it happen?
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Career Resources
it happens, after 2nd year. i think you're perceived based on quality of your work.
Here's the question: why would you do it?
You have a limited number of bullets in your career in this industry. Every time you move you use one, and make it harder to do it again. What are you gaining by moving? Look, there are perfectly good reasons to do it, but don't do it on a whim.
When you apply for another job, or for b-school, everyone will wonder (and ask you) why you did it. Were you unhappy? Were you not well regarded? Did you have an issue with your co-workers? What's the upside of moving? Your comp shouldn't be meaningfully different, especially if you were good.
If it's because you wanted to be an M&A guy (or in a different city), and this is the chance to do it, then that may be an acceptable answer. But make no mistake, you are going to use up some capital to do it. My advice would be: don't do it lightly.
If you're looking to lateral between two banks of the same tier, it doesn't really make sense. Say for example, you don't get along with your coworkers. I would think that future interviewers, whether it be buyside or b-school, etc. would respect you more for gritting it out and "overcoming adversity" than running away. The only other valid reason I can think of besides the one listed above (M&A in another city), is if you were ending your second year and knew you wanted to become an associate, so you moved to a firm like Goldman for the culture as a 3rd year so you could begin your career as a banker.
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