How comfortable would you guys feel lateralling in this current environment? Things haven't even slowed down THAT much and companies have laid off a surprising number of people (not just bottom bucket it appears)?
I know the LIFO principle exists in these times. Is it better to stay at my tier 3 bank where I am top bucket?
How likely are boutiques to lay off people? Like PWP-types.
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I’ve read that but is that actually true? Would think they boot low and lower mid performers first.
Bump. In same position as OP.
risky. You don't know how well you will do there(especially if its a super nice firm). Maybe they just model differently/have internal work processes you just don't jive with. Like my team models a certain way, I think if I went to centerview I might get wrecked because of all the assumptions and shortcuts my current group does as SOP.
in current role you are top bucket and have security. nothing to prove.
but life is too short to care at end of the day. if you want the role, go for it. getting laid off from a top EB isnt the end of the world.
Simple: all of us should be extremely comfortable lateraling for the right opportunity. Any banks hiring in this climate are hiring because they need the bodies, and they will only give offers to people that are very qualified.
If you’re at a no name bank and have an offer lined up at Lazard, dear god, don’t pass up on the opportunity. You can’t time everything in life and just manifest an offer from Moelis right when the S&P hits an all time high. Sometimes the stars align during a recession and you get your chance. I got my dream IB offer during the peak of Covid hiring freeze and recession. I thanked the big guy above and signed without hesitation, instead of pondering whether I should just take a Big 4 job because stonks are down.
Now if you’re at Nomura and thinking about lateraling to HSBC, you should obviously stay put at the great bank you’re at and enjoy the security your past performance and tenure provide you. That’s a sideways move, and recessions aren’t the right time (if there is any right time) for sideways moves.
Know this isn’t the PE forum, but how would new PE associates fare in an recessionary environment with layoffs? Same “last in first out” concept?
Pe doesn’t layoff - benefits of committed capital
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