How Long Should I Wait on the Desk to Lateral?
Hi,
Currently a first year analyst and started on the desk a couple of weeks ago. Was wondering if anyone have advice on how long I should wait before lateraling to another bank? I see opportunities of groups I want to lateral to popping up on job websites and am not sure when I should start applying for them.
I feel like most former analysts at my bank or other banks lateral after 1 year, but have also seen some move after 3 months.
I am also a bit concerned about my current group being pissed off and talking to the group I am applying to. (It's a small world) Does anyone have previous experience or thoughts? Thanks!
following
bump
Bump
also bump because relevant
Lateraled from a MM to a BB after 6 months. Started looking in mid-September and continued until late November. Some of the firms I interviewed at had hiring freezes until that time. Bonus was not affected. I had to pay the MM firm the signing bonus back but the new firm gave one after I gave proof of repaying the old one.
The general rule of thumb is to stay a year. I would say you can go as little as 9 months without it looking a bit fishy from the perspective of interviewers, and very frowned upon from the perspective of your current co-workers.
Anything sooner than that I think you should have a really strong rationale (i.e. your current firm is struggling, you’re changing the role of your job itself, etc.), not just to move to a somewhat better bank.
interested in this as well
I have had few of my analyst class switch within 3-9+ months. I think it is really network-dependent for the guys that switched sooner and the hiring need. I would say feel free to start applying around 6 month mark. Obviously you will need to sound polished on the behavioral questions they would ask (why switch to us, this group, tell me about a deal, etc). Typically these processes can take 3-6 months unless its an immediate need.
Culpa sed necessitatibus magni dolorum. In voluptatem enim culpa ullam incidunt sed. Mollitia iusto tenetur molestiae similique sint rerum nam.
Et repudiandae ut sunt repellendus ea. Et quo dolores mollitia ea rerum cumque vel laudantium. Non sequi molestiae aliquam dolorem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...