Lateral IB - How to get a first round interview? Do I reach out to bankers / recruiters?

Based on the most helpful WSO content, here’s how you can effectively land a first-round interview for a lateral IB position:

1. Cold Applying Works, But Don’t Rely Solely on It
   While cold applying can yield results (as you’ve experienced with your BB first round), it’s not the most efficient strategy. Lateral job postings are not "black holes" like SA or FT recruiting, but networking significantly increases your chances.

2. Emailing Bankers Directly is a Strong Move
   Reaching out to associates and senior bankers in the group with an opening is highly recommended. After applying online, send 2-3 emails to bankers in that group the next day. Express interest in learning more about the group culture and highlight your relevant experience. This approach can set you apart, as many banks need lateral positions filled ASAP. However, ensure you’re prepared for these calls, as they often turn into informal interviews.

3. HR Recruiters Are Less Effective for Lateral Roles
   HR recruiters often redirect candidates to the application site, as they are not typically involved in the initial screening or interview process for lateral hires. Bankers themselves usually handle the screening and interviews, so focusing on networking with bankers is more impactful.

4. Leverage Your Network
   If you networked during undergrad, now is the time to tap into those connections. Let your network know you’re looking for lateral opportunities. Even if a bank isn’t actively hiring, your contacts might keep you in mind for future openings.

5. Highlight Your Deal Experience
   Your resume should emphasize your deal experience or transferable skills. If you’re switching industry groups, be prepared to articulate how your current experience aligns with the new group’s focus.

6. Be Strategic with Networking
   Start by reaching out to junior bankers (analysts/associates) to build rapport. If possible, escalate to directors or MDs who can advocate for you. Avoid spamming the entire office; instead, focus on meaningful conversations with a few key individuals.

7. Timing and Persistence
   Lateral recruiting is unstructured, and processes vary by bank. Some banks may move quickly, while others take months. Stay persistent and optimistic, even if you face rejections.

By combining targeted networking with strategic cold applications, you can maximize your chances of landing a first-round interview.

Sources: Lateraling Guide for Investment Banking, Lateraling Guide for Investment Banking, Q&A : Regional Office Recruiting