With how many people in the class of 2024 got fucked and accepted offers in IB-adjacent roles (PE/HF/VC/GE etc.), is lateraling as an Analyst to top banks (BB/EB) even possible or is MBA the only route?
Seems like most laterals are folks that are already in banking just at a worse bank (MM/Regional Non-name Boutique).
If anyone reading has made this transition, please share your experience.
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Bump, interested
Not impossible, we have hired a few from Big-4 transaction services over the years. Also seen some from equity research. Market is really tough right now given new analyst classes are starting in a few weeks and overall the M&A market is lukewarm at the moment. I personally came from an FP&A role as an analyst but did a stop at a MM bank before lateraling to my current bank.
Buyside is rarer just given the fact that there are very few analyst level roles and generally there is some red flag (why leave like Blackstone to go to banking? or the buyside shop is just a no name which will have worse training and is more of a wildcard to take someone from).
What about brand name buyside? Curious why it’s a red flag. If for example someone had an interest switch or with 2024 had their hand forced?
I just don't think you'd see an analyst 0-1 years out of school at a brandname buyside that is looking to go into banking (when everyone in banking is trying to get those roles). It's a major red flag if someone is laid off 1 year of working - you have to be a really poor performer to be identified as such so quickly and then let go.
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