Lateral Analyst Dilemma - do I tell interviewers I’m not licensed?
Currently in the lateral process for a number of banks after spending 1.5 years at a bank that does let its analyst sit for the Series exams. I recognize that any bank that’d hire me would give me a few months to take the exams but how big of a disadvantage is this when comparing me to other candidates?
Just had a superday and doing a first round for my top choice this week (both Bulge Brackets). Need to decide if I should be upfront about not being licensed or if I should just let it come up in the offer / onboard stage. My biggest fear is that the firm won’t want to pay for it unless it’s absolutely necessary and/or that it will be a significant enough reason to ding me from the process.
What do you guys think?
Bump similar boat interested
I have only been asked once or twice in an interview if I am already licensed. I’d say answer honestly if they ask, but don’t worry too much (no need to announce it if they don’t ask). I honestly don’t think it is a deciding factor, more of a nice to have/check the box.
Also anecdotally, a lot of analyst fail exams and retake them—it’s a cost the bank knows it will take on. Is this for JPM by the way?
Yeah JPM is one of the banks I'm talking too. Which group are you looking at?
PM me!
They won't care. Exams are easy and don't require much prep. Basically you're just not allowed to talk to clients or be on an deal marketing stuff, which as an analyst you generally won't be anyway. Besides, I know a 2nd year at a BB who has yet to take his exams and he wasn't even a lateral.
Don't get why my firm doesn't allow this given I've ran M&A deals solely with MDs and am on all marketing materials... lol
It’s fine. They’ll give you the prep course and a test date if you’re not.
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