How to navigate starting FT while looking to lateral ASAP

Starting at a LMM IB firm and planning to lateral ASAP can be a tricky but manageable process. Based on the most helpful WSO content, here’s a structured approach to navigate this situation:

1. Start Strong at Your Current Role

• Even if you're planning to lateral, it's crucial to build a solid reputation at your current firm. Focus on excelling in your role, gaining deal experience, and developing transferable skills. This will strengthen your resume and provide solid references when you decide to move.

2. Rebuild and Expand Your Network

• Reconnect with individuals you networked with earlier in the year. Let them know you’ve started your role and are eager to learn more about their experiences. Avoid directly asking for opportunities right away; instead, focus on building meaningful relationships.
• Network across all levels, including analysts, associates, and senior bankers. Analysts and associates often have insights into lateral openings and can advocate for you.

3. Engage with Headhunters

• Start reaching out to headhunters early. Banking recruiter firms can be instrumental in identifying lateral opportunities. Build relationships with them and keep them updated on your progress and availability.
• Maintain relationships with recruiters you’ve known or worked with in the past, as they can be valuable resources when lateral openings arise.

4. Timing Your Lateral Move

• While some suggest waiting a full year to lateral, it’s not always necessary. Many lateral opportunities arise unexpectedly, and banks often need to fill positions quickly. Keep an eye on openings and be prepared to move when the right opportunity presents itself.
• Highlight your deal experience as soon as you have some under your belt. If you’re not getting diverse deal exposure, focus on transferable skills and emphasize your willingness to learn.

5. Leverage Online Applications and Networking

• Contrary to popular belief, lateral job postings are not always black holes. Many successful lateral moves have come from blind online applications. Combine this with targeted networking to maximize your chances.
• After applying online, follow up with emails to associates or senior bankers in the group to express interest and learn more about the team culture. This proactive approach can set you apart.

6. Prepare for Interviews

• Lateral interviews tend to focus more on your deal experience and less on technical grilling compared to FT interviews. However, you still need to be well-prepared. Brush up on technicals, behavioral questions, and your deal stories.

7. Stay Patient and Strategic

• The lateral process can take weeks or even months. Be patient and strategic in your approach. Avoid making hasty decisions and ensure the next role aligns with your long-term goals.

By excelling in your current role, networking effectively, and staying proactive, you can position yourself for a successful lateral move. Good luck!

Sources: Lateraling Guide for Investment Banking, Some Thoughts on Networking, Lateraling Guide for Investment Banking, How to Navigate FT Recruiting: Learn from My Successes/Failures