Incoming analyst at a Lower BB (UBS/WF/RBC) and am considering a possible lateral to a larger BB or EB. My network is pretty strong (semi target) and I feel I could make the switch successfully. How long would be a good recommended waiting before beginning to try to initiate the lateral process? I was hoping to move after roughly a year in time to be able to do on cycle as a 2nd year.
TLDR - How long does the lateral process generally take?
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Sorry but some of those are not “lower” BBs. Maybe “self-proclaimed” BBs.
I think you are overrating your network. If your network is as strong as you suggest it is, you would already be at the firms you are trying to lateral to. Given the uncertainty in the (labor) market, I wouldn’t expect everything to work out smoothly. Be cautious.
What’s up with the MS? Genuinely confused. Are people upset that WF is not considered a BB? Or are people upset that this guy is accusing the OP of overrating his network? Seems like a reasonable post. When people are afraid they will be laid off or might not get return offers, I don’t see what’s wrong for this guy to say labor market conditions suggest it’s not gonna go as planned. OP does seem overly optimistic.
The MS is from incoming Wells/RBC interns.
I would guess the MS is coming from a few perspectives. (I’m not OP nor have I thrown MS, just my opinions)
The random shot at whats a BB and what isn’t is a dead horse beaten over and over on this website and in no way is productive.
Saying someone is “overrating” their network solely because they aren’t at a bank they wanted is also unproductive and unhelpful due to the fact that the recruiting timeline is so spread out that for a semi target who may have a few banks on OCR and a few off, offers may come at different times and have deadlines that don’t align with bigger BB/EB recruiting.
I totally agree that the market isn’t great right now and nothing is guaranteed but this response was unhelpful to the OP whereas the later posts responds productively while also acknowledging how difficult it would be.
OP, you’re chances aren’t great in this market but the below advice gives good advice as to when and how to start those conversations.
There is never a bad time to begin having conversations with others, especially if they're in your network. Reach out with the intention of catching-up/hearing how their experience has been, keep it discrete, and see how the conversation/process unfolds.
I think this is risky, given that most EB/BBs have openings only if an analyst leaves, so you're really at the mercy of that. Reach out to your network and let them know you're interested, but you're also competing against internal lateral hires from other groups. Good luck.
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