How easy is it to move groups at an EB vs. BB? I’ve heard EBs emphasize trying to retain talent but there are also less seats. Meanwhile BBs just churn through analysts but there’s open spots in groups all the time. Currently deciding between an PJT/MOCO/EVR and Barclays/BAML/Citi offer, neither are in top groups.
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I'm a first year at a BB. I know a good amount of people at my BB who interned in one group and switched to a different group for full time. I also recently saw someone who interned in one group, switched to a different group for full time, and then just recently switched to yet another group (one of the top groups on the street) after 1 year of full time work. That's 3 group changes and they haven't even finished their analyst stint yet. So at my BB you're definitely able to move around groups.
Idk what EBs are like.
Do you mind sharing which BB? Totally understand if you’re not comfortable. I’ve just heard that GS and JPM don’t let you switch before 2 years, while Barclays and CS are pretty flexible (assuming you’re a good performer).
JPM is 1 year. Not sure about Goldman.
I'm at a low BB and switched groups from SA to FT. Wasn't hard and was streamlined. Have seen a few people switch groups after they've started. More common in product groups who did a lot of transactions in a sector switching into coverage than other internal laterals, but other situations have happened too. Firm is known to be really open wrt internal mobility though so not sure about the experience at other firms.
Moelis is generalist for the analyst program if I'm not mistaken. Isn't Evercore generalist too for the first few months? Not sure about PJT though. Regardless, I'd choose the EB over BB offer. You're looking at a top EB vs a mid tier BB and neither are top groups. If you take the EB and you enjoy the group and want to stay in banking that's great. If you take the EB and want to do PE then an average group at an EB is much better than an average group at a mid BB. And lastly, if you want to stay in banking but want to swap groups by lateralling through a different firm, it'll be a lot easier coming from a top bank going to another top bank than a mid BB going to a top bank.
any insight on BAML/Citi - can you switch within 1 year or has to be after 1 year?
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