FT Recruiting

Based on the most helpful WSO content, lateraling into a top BB or EB group in NYC for full-time is challenging but absolutely feasible if you approach it strategically. Here’s a breakdown of what you should focus on:

1. Networking is Key:

   • Start building relationships now with professionals at BBs and EBs in NYC. Use LinkedIn, alumni networks, and cold emails to connect with people in the groups you’re targeting.
   • When reaching out, focus on genuine conversations rather than immediately asking for referrals. Over time, you can position yourself as a strong candidate by sharing your story and interest in their firm.
   • Leverage your current internship to network internally and externally. Ask for introductions to people in NYC offices or other firms.

2. Positioning Your Experience:

   • Frame your current SA experience as a stepping stone. Highlight the skills and deal exposure you’re gaining, and how they align with the demands of top-tier firms.
   • If your current bank has a strong reputation in certain areas (e.g., middle-market deals, specific industries), emphasize that expertise when pitching yourself to BBs/EBs.

3. Timing and FT Recruiting:

   • Full-time recruiting at BBs and EBs is more limited than summer analyst recruiting, but opportunities do exist, especially for lateral hires.
   • Keep an eye on openings starting late summer and early fall. Some firms may not advertise roles, so networking is crucial to uncover hidden opportunities.
   • Be prepared to move quickly when opportunities arise. Have your resume polished and ready to go.

4. Avoid Burning Bridges:

   • Be discreet about your intentions to lateral. Maintain professionalism and strong performance at your current bank, as you may need recommendations or references.
   • If asked why you’re looking to move, frame it positively—focus on your long-term goals (e.g., NYC location, exposure to larger deals, or specific industry expertise).

5. Additional Steps to Stand Out:

   • Consider taking on extra responsibilities during your SA stint to demonstrate initiative and leadership.
   • Study technicals and prepare for interviews thoroughly. Even if you’ve done well in your current role, BBs and EBs will expect you to ace their technical and behavioral interviews.
   • If you have time, explore certifications like CFA Level 1 or financial modeling courses to further bolster your resume.

6. Realistic Expectations:

   • Coming from a non-target and a Tier 2 city does present challenges, but your 3.7 GPA and SA position at a solid bank are strong starting points.
   • While MFPE is a long-term goal, focus on securing a lateral move to a BB or EB first. From there, you can build the experience and network needed to transition into private equity.

Many WSO users have successfully made similar moves by grinding out networking, excelling in their current roles, and staying persistent. Keep your eyes on the prize, and don’t hesitate to reach out for advice or mentorship along the way. Good luck!

Sources: What to do as a rising senior at a non-target with no IB experience, David and Goliath: The Boutique and The Bulge Bracket, The Case for Elite Boutiques over any Bulge Brackets in 2022, Non-Target Recruiting Guide Part I: Resume and Networking, The Case for Elite Boutiques over any Bulge Brackets in 2022