Hi,
I was wondering for those who lateraled over to a different bank for Full time, how did you go about selecting your group? Do you simply just get assigned? Go through similar process as SAs? Or how does it work?
Thanks
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You apply to whichever group has an opening. One of the downsides to lateraling is that you don’t always have a great choice in your group in the sense that the bank will have needs only in certain groups (unless a generalist analyst program, of course).
So basically your choice is whatever the job posting says.
I was thinking more in regards to lateraling after SAs. At MM bank Blair/Baird/HL and have a great chance to move to a BB. If I do move, how will that type of group selection work since it’s not specified before the interview process
I applied and received an interview directly from the group I would be joining full time. Interviewed with most of the people in the group, heavy with more senior (MD) representation. Some banks will sometimes give you a generalist offer at first and place you in the group either before you start or during training. Both of these placement processes can happen at the same bank. You go through almost like a rush process with different groups, and a lot of interns can sometimes compete more heavily for certain groups. You then hit the desk with your group after training. During training, you cover stuff like finance prep, PPT, excel, modelling, and studying for the series exams you have to take. If only a few coverage groups at a bank have open spots, they may just let each individual group run their own process. The placement process really depends on how each bank does it and it can vary widely depending on the business needs.
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