Full-time lateral advice

I’m an incoming full time analyst who’s about to start my training in the coming weeks. I’m currently at a MM bank in Chicago (HL, WB, etc.) and would love to get everyone’s input on what I should expect the process to be like if I want to lateral into a BB role in NYC ideally.

I am currently operating under the assumption that networking is my best bet of finding openings in the fields I’m interested in because these cycles move so fast that they don’t have time to post full openings on websites.

Am I operating under the right assumptions? What should my roadmap look like? Any and all advice would be greatly appreciated!

13 Comments
 
Most Helpful

Wait until around late January and then late May of your first year to network and apply. Firms will start posting applications then because of attrition once people leave post-bonus in February and July for winter-cycle employees and summer-cycle employees respectively. You also don't want to give the impression of hating your group by starting to network now before you even started.

Speaking from experience, wait until your first year is up to lateral. I got way more traction after waiting for my first year to have finished in May/June. By that time, you'll have closed deals to put on your resume, be able to speak about your knowledge on X industry, and be able to speak on your strengths/weaknesses/ranking within your group at a more mature level, which is what they want in an experienced lateral analyst. That said, the market for lateraling is really great right now since deal activity is at a high. So would be worth it to take a shot after 6 months in Jan next year.

Coming from a top BB (GS/JPM/MS) in a regional office in a top group, I actually didn't have to network to get interviews. It might be different if you're coming from a MM, but I would say if you have high-profile closed deals on your resume it's clear to HR that you are a top performer and you'll get pushed to an interview, especially if you're going to the same coverage group (such as industrials to industrials). 

Also, British headhunters like Pearse Partners, Blacklock, and Maxwell Bond cover a lot of U.S. lateral IB roles for some reason, not just London IB roles. SG Partners, Madison Hunt, and Weatherly Group in the US cover some lateral IB roles. 

 

How did you prep for your interviews? I'm coming from a less technical group and plan on going back to studying SA recruiting guides and modeling. Is there anything else you'd recommend?

 

Mollitia enim nobis consequatur aut animi. Qui reiciendis ut numquam rem et. Quis doloribus iste non nam. Consectetur sapiente dolor omnis labore debitis mollitia et. Ratione non accusamus eveniet vitae ad occaecati odio. Est sed quidem perspiciatis aperiam totam veritatis et et.

Accusamus sunt laboriosam sed consequuntur ex quo saepe. Eveniet consequatur explicabo qui unde debitis eos et. Optio quaerat et voluptates quisquam. Est et asperiores odio. Ab et eum maiores ea ut est. Fuga excepturi occaecati est accusamus facilis vel.

Provident est quia aut temporibus. Labore est maxime quia et. Aut nostrum accusamus officiis explicabo. Fugit est perspiciatis sequi natus.

Deleniti atque aut molestiae est dignissimos fugit laudantium. Et fugiat voluptatum aut corporis autem. In ut quia exercitationem eaque modi deleniti et. Asperiores cupiditate porro inventore eum assumenda rerum. Blanditiis et non aliquam sunt dolores dignissimos minus.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Goldman Sachs 01 97.9%
  • Morgan Stanley 07 97.3%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 03 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.3%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (53) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (15) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
GameTheory's picture
GameTheory
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”