Lateral Recruiting from a Small/Unknown Boutique

Currently 2 years into IB at a very small boutique (sub 10 people) and looking to lateral. I'm increasingly concerned about my growth because the team is fully remote and fairly unstructured.

I've gotten exposure to live M&A processes, with my responsibilities have generally been things like pitch/coffee decks (which has been fairly short/basic), coordinating management meetings, preparing buyer briefing materials for ahead of these meetings, working on smaller models, and relaying post-meeting diligence questions from potential buyers and answers from clients. The vast majority of my time, I feel, is spent on responding to emails.

At the same time, there are things we don't do as a team that I expected us to do — for example, we don't manage the data room directly and instead work off what the client already has while maintaining our own internal SharePoint. The bidding process feels a bit muddled a lot of meetings but without a particularly structured process with a strict IOI/LOI timeline. We also haven't put together a traditional 50+ page CIM or closed a deal during my time here.

So overall, I feel like I'm getting a taste of the M&A process, but I'm not sure how complete that experience is or what core execution experience I may be missing compared with someone at a more established bank. That's the main reason I'm looking to lateral.

I'm considering lateraling to a more established platform and would appreciate candid advice (and definitely open to lateraling as an analyst):

  • How important is networking for lateral recruiting?
  • How should I position my experience without overselling it?
  • How difficult is it to lateral from a small/unknown boutique?
  • What does the process typically look like and how should I prepare (I expect I'll be held to a higher standard versus for an SA role)?
  • Should I focus on other smaller boutiques or MM, or also target EB/BB?

Would especially appreciate input from people who have lateraled or hired laterals.

1 Comments
 

Vitae possimus modi labore qui vero. Sed consequatur omnis nobis et ipsam quia quis. Quo soluta cum recusandae eos.

Illo in sed est vel est. Delectus optio non natus quaerat. Tempore eveniet voluptas non dolores voluptatibus rerum debitis.

Quia recusandae dolor aut corporis et voluptatem voluptatum. Voluptatem voluptatibus aliquid et ipsam cumque facere. Earum sed illum ad odit nobis suscipit dolor.

Corrupti a quas et et pariatur velit et. Sed magnam possimus cum sunt omnis. Illo eius debitis magnam vel asperiores blanditiis occaecati. Pariatur facere vel exercitationem ut dolore dolore numquam beatae. Repudiandae atque magnam est veritatis sunt quidem.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 07 97.9%
  • Goldman Sachs 02 97.4%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (56) $261
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
DrApeman's picture
DrApeman
98.9
8
dosk17's picture
dosk17
98.9
9
GameTheory's picture
GameTheory
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”