Lateral Advice

Based on the highest ranked content on WSO, here are some insights and advice regarding your situation:

Key Considerations for Lateral Moves:

1. Timing and Experience:

   • 9-12 Months Experience: It's generally recommended to have at least 9-12 months of experience before making a lateral move. This duration helps you build a solid case for why you're moving and demonstrates commitment to your current role.
   • Early Moves: Moving too early can raise red flags for potential employers, suggesting you might not stick around long-term or couldn't handle the role.

2. Current Role Challenges:

   • Technical Skills: Lack of technical training and support is a valid concern. If you're not receiving adequate training, it could hinder your development and future opportunities.
   • Deal Flow and Learning: Smaller deal sizes and less exciting work can impact your learning and career satisfaction. It's important to be in a role where you feel challenged and are gaining valuable experience.

3. Compensation:

   • Below Market Pay: If your current compensation is below market and bonuses are historically low, this is a significant factor to consider. Compensation is a key component of job satisfaction and long-term career growth.

Steps to Take:

1. Evaluate Your Situation:

   • Assess how critical the lack of technical training and deal flow is to your career goals. If these issues are significantly impacting your development, it might justify an earlier move.

2. Research and Network:

   • Job Aggregators: Set up notifications on platforms like LinkedIn or Indeed to stay updated on lateral opportunities.
   • Cold Outreach: Reach out to friends or cold email other banks to explore openings. Many banks may not advertise lateral positions but are open to hiring if approached directly.

3. Prepare Your Case:

   • Solid Argument: If you decide to move, be prepared to explain your reasons clearly. Highlight the lack of training, deal flow, and compensation as key factors.
   • Demonstrate Commitment: Emphasize your commitment to finding a role where you can grow and contribute meaningfully.

4. Consider Internal Moves:

   • If possible, explore internal mobility within your current firm. This might offer a solution without the risks associated with an early lateral move.

Conclusion:

While it's generally advisable to wait until you have more experience, your specific circumstances—lack of training, smaller deal sizes, and below-market pay—might justify an earlier move. Ensure you have a strong case and actively seek out opportunities through networking and job aggregators.

For more detailed advice, consider engaging with the WSO community or consulting with a mentor who understands your specific situation.

Sources: Best Practices for Finding Lateral Opportunities, It’s Time to Leave My Firm (A1)... How Do I Lateral?, Lateralling Job Market, Lateral analyst in trouble, Q&A: Business Analysis at F500 Firm