How feasible is to lateral?

Ah, the classic move from the underdog to the top dog in the bustling streets of London's finance scene. It's like trying to swing from one vine to another in the dense jungle of investment banking. Let's break it down, shall we?

Lateral moves in London's market, especially aiming to jump from a lower-tier BB (Bulge Bracket) to a top-tier American Bank or an elite boutique (EB), are indeed a path many ambitious souls contemplate. Based on the wisdom gathered from the Wall Street Oasis jungle, here's what the landscape looks like:

1. Feasibility: It's not a walk in the park, but it's not scaling Everest blindfolded either. The move is feasible but requires a solid strategy, impeccable timing, and a bit of luck. The key obstacles often revolve around timing, networking, and how well you can sell your experience and skills to the new firm.

2. Key Obstacles:

   • Timing: The ideal window is often after you've accumulated enough experience but before you're too senior to make the switch without a hitch. Analyst 1/2 level is often cited as the sweet spot.
   • Networking: This is your jungle vine. Building a strong network within the target firms can significantly enhance your chances. It's about who you know as much as what you know.
   • Skillset and Experience: You need to demonstrate that you've not only excelled in your current role but also that your experience is transferable and valuable to the new firm. Highlighting any M&A or modeling experience is crucial.

3. Success Stories: They exist. Many have successfully made the leap, often leveraging their network, showcasing their achievements, and sometimes taking advantage of headhunters who specialize in such moves.

4. Advice from the Wise:

   • Prepare Thoroughly: Understand the differences in culture, expectations, and work style between BBs and EBs. Tailor your approach accordingly.
   • Network, Network, Network: I cannot stress this enough. The more people you know in your target firms, the better your chances.
   • Highlight Your Achievements: Be ready to discuss your deals, your role, and how you've made a difference. Concrete achievements can set you apart.

In the grand scheme of things, while the path is trodden, it's not without its challenges. But with the right preparation, a bit of networking magic, and a dash of determination, it's a journey that can very well end in the lush lands of top-tier banks. Remember, in the concrete jungle of London's finance market, being smart, agile, and a bit bold goes a long way.

Sources: Lateralling from a mid-market to a BB / EB, 20 Most Frequently Asked Questions - London Edition, Q&A: London BB IBD to top 3 PE, Why would any associate+ banker choose a BB over EB?, 20 Most Frequently Asked Questions - London Edition