Hi everyone,
I am currently analyst 1 in a lower tier BB/EB in London and I am thinking about lateraling to a better bank.
I have two questions:
1) Is it risky to just drop mails in people's inbox as they might know someone in your current team and then you're basically screwed?
2) Given the current context, do you guys think it's doable to do so as an analyst 1?
Thanks all!
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Hey there!
1) Based on the most helpful WSO content, it's not necessarily risky to reach out to people at other banks, but it's important to be strategic about it. You might want to start with people you have some connection with, such as alumni from your school or past colleagues. It's also a good idea to check with people you trust at your current bank about the culture around networking with other teams. In some cases, it could backfire if HR finds out and isn't happy about it.
2) As for your second question, it's definitely possible to make a lateral move as an Analyst 1. In fact, firms often need to hire laterals to bridge the gap, especially since MBA recruiting can be much smaller and even non-existent at some firms. It might not be easy, but it's certainly doable.
Remember, the key is to network effectively and maintain good relationships with recruiters. They can be a great resource when you're looking to make a move. Good luck!
Sources: Best Practices for Finding Lateral Opportunities, 20 Most Frequently Asked Questions - London Edition, Q&A : Regional Office Recruiting
It's a tough market now and as a fresh A1 with a couple months on the desk by now it's going to be tricky. Think you might need to wait it out for a few months till Q2 next year when lateraling as A1 will be more sensible and the market may be in better place. Since you are currently employed and by a known firm, I would be thoughtful in how / who to reach out to. You should definitely network in some way just don't shoot around blindly. Have a chat with HHs too to test temp
Thanks for that, can you think about any particular approach when it comes to reaching out?
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