At a GS/JPM/MS bank. Analyst. I accepted an Associate role at a less prestigious bank (think BMO/PNC/SunTrust. I declined an A2A promotion at my current firm due to culture issues (unrelated to hours).
Will downgrading firms negatively impact my resume or raise serious questions if I try to go elsewhere in the future? Does having the B.B. experience on my resume hold the same weight?
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Not really. If you don't like your firm and explain that in future interviews there isn't much you can do no matter how prestigious it was. Plus, the new position is still at a bank with a good name, it's no a no-name boutique in the middle of nowhere.
I don’t have the exact answer but I’m curious how you chose the new bank. It was my understanding that there’s a general lack of non-M.B.A. experienced associates looking to move banks since most get out of the industry after their analysts stint. This also led me to the assumption that you would have lots of banks to choose from when looking for a lateral hire (especially from a prestigious bank like yours).
Am I off on my assumptions? Were you after better hours, or did you move back to your hometown or something? If you moved back home from NYC I think that’s a fairly common move.
This. Why wasn't your lateral to an equally good bank (or better)? That's the question.
As mentioned, there are likely a couple acceptable answers. Overall though, it's definitely not a good look.
The A2A promotion offer should help dissuade fears of major performance issues, but some may still be skeptical. Wish this wasn't the case, but this will raise serious questions and negatively impact your resume somewhat as it's not a positive trajectory. Mostly because the 3-4 people I know who've downgraded banks all were fired / on the verge of getting fired.
Careers are long, winding roads. You might get some snobbery trying to go to a mega fund, but others won’t care.
Do what makes you happy and continue growing. People move all around in this business.
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