Hey all,
I've got a FT starting Sept, and had always intended to lateral a few months into the role (maybe around March to June ish). Do you think the hiring craze going on right now will continue to q2 2022? This is London btw not NA.
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Why are you trying to lateral after a few months on the job? Generally, leaving before you work 1 year at a shop is looked down on (there's always exceptions). We just passed on hiring an extremely qualified candidate because he was at his last job for only 3 months. Not saying it can't happen but it raises eyebrows
My situation would be more like 8/9 months - the aim being to have tangible deal experience. Also my motivation is to move to somewhere with better MF links
Got it, I'd recommend staying at that place a tad longer then. Don't want to be job hopping too much
You can spin beings a lower tier shop (I.e., I like the culture, really liked the people, was interested in x space where they are strong)
If you leave in 2 months, you’re signaling that
1) you couldn’t get the offer initially and only are now because they’re desperate for people
2) you’ll leave for the next place in another few months once you get a better offer.
3) because you need to register with FINRA, your stupidity will follow you your entire career
I'd generally say that 6 months+ is good enough for lateralling as long as the candidate has a good story as to why they are making a move. I agree that 3 months is suspect but if the guy was a rockstar going from a no-name boutique to a name-brand firm, then I get it. But I'm not sure what the guy's situation was that you rejected.
People can lateral for a variety of reasons but usually the most cohesive reasons are those who are "leveling up". For example, someone going from MS to GS after a few months wouldn't make much sense but it'd be important to understand if there was a culture issue or whatever which was the catalyst for the candidate trying to leave.
Could you lateral earlier if it was to move cities?
Move once you land an opportunity you like, no need to wait for 6 months or a year. Try to provide as good a reason as you could to both interviewers and future interviewers. Once you get the offer, move and don’t look back. If you want to show that you are not a job hopper, try to stay the full two years at the new bank. That’s especially true if you ever end up somewhere non-IB/PE post-banking.
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