First Year Lateral Timeline and Process

Being ~4 months in, I would assume I’m not the only first year considering a lateral over the next 6-8 months for one reason or another. I understand right now lateraling wouldn’t be an option but a summer lateral is definitely something I’m potentially eyeing. 
 

What would the timeline and process look like for someone looking to lateral after their first year as an analyst? Would you have to repeat as a first year assuming you’re coming from a reputable IB? 

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