EB First-Year Thinking About Lateraling — Timing & Bonus Questions

Hi everyone — I’m a first-year at an EB in NYC, about seven months in. I’m about to close a deal since starting and overall I’ve learned a lot and improved significantly. I’m not top bucket, but I’m confident that in a healthier team environment I’d perform at a much higher level.

The issue for me is culture. There’s been a lot of junior turnover and it’s hard not to notice the pattern. It feels like there’s a bit of a hazing mentality toward analysts, which makes it tough to actually do your job well, let alone build meaningful senior relationships. There isn’t much mentorship or real investment in juniors, and the overall dynamic just isn’t great.

As a result, I’m seriously considering leaving sooner rather than later. My hesitation is mostly economic — I’d likely have to pay back my signing bonus if I leave before the one-year mark, and I’d probably forfeit my first-year bonus if I leave before August.

For those who’ve been through this, when is the smartest time to lateral as a first-year? Do firms hire on a rolling basis, or is it more realistic to wait until after bonus season or the one-year mark? Are banks typically willing to cover signing bonus clawbacks? Has anyone successfully lateraled before bonus season and had the new firm make them whole on a first-year bonus? I’m also considering switching into capital markets or research — I’m interested in something more markets-facing and potentially with better hours — so I’d be curious if anyone has made that move early in their career.

I also want to add that I’m willing to lateral to a group that might be less prestigious but has a better culture. But I am worried that if I do, firms might question why I’m willing to move “down market” or into a “less prestigious role” like capital markets. To be clear, I don’t care about prestige and recognize that culture and your relationships with your coworkers are far more important.

For context, I’m not in my firm’s “top group,” but I’ll have a closed deal and solid live reps on my resume. I’d appreciate any candid advice.