Lateral to RX
Anyone on here that has done this before? I'm starting FT this summer at a MM in Chicago and am interested. How would I prepare? Any general advice
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The lack of responses on the last post you made about this should tell you how generally difficult the move is.
I personally haven’t seen anyone do it, most RX groups usually only take laterals from folks that at top groups at an EB/BB on the unlikely chance that there are spots open. Maybe it’s possible at an Imperial or a GLC type firm? Personally I’ve not seen that happen yet either though. Might be better going for an RX consulting firm like an Alix or A&M for FT then try and lateral to an RX group if you’re really that passionate about it but I wouldn’t know.
Currently work in RX at one of the "top groups" that WSO mentions. Agree with the above - def need BB/EB IB exp to lateral to PJT/EVR and even HL, RX consulting is more operational so skills are not as transferrable to IB
That’s makes sense for the consulting thing. Figured I should ask on this kids behalf but would something like Jefferies or Baird RX might be possible from a MM role?
If he’s after exits they probably don’t exit nearly as well but if he’s genuinely interested in RX those aren’t bad places to get started and I think the low tier RX IB -> a good group like a Gugg/Ducera/PWP or even top group you mentioned would certainly be POSSIBLE as an associate or something
"this kid" lol we're the same age virgin
Wouldn’t say those firms are low-tier. You’d have to have a good reason for Rx. These groups like to take people who are interested in the topic. Not people who are worried the market is bad and want good deal flow.
You can tell this kid has no idea what he’s talking about comparing Jeff RX to Baird 💀
Can I PM about RX lateral interview?
I am doing my SA at an EB (Evercore/PJT/Lazard) in the Secondaries group - do you think I have a shot?
What about from Mid tier RX to a top shop like what you mentioned?
i never made a post about this
Genuinely impossible from a MM lol
It’s not impossible nor even that hard, what? I have no idea what the above comments are saying. PJT/HL/EVR are a different story but I assume ur talking about RX in general, including lower tier firms? I have interviews at several tier 2/tier 3 firms and I’m doing non-IB BB front office which is definitely considered less prestigious compared to MM IB.
Stick to talking about what you know.
Bump
rx guys are extremely passionate about rx which is good, obviously they get really good at it. For me if someone wants to let me in I would do rx but I wont spend time reading about it often bc it just doesn't make sense to. its cool though and something I definitely would have looked into if I was raised in nj/ct.
I think if your truly passionate about rx you will get in obviously people are pretty receptive to people with common interests/passions. I am rooting for you to lateral!
I don’t think it’s impossible, but it’s difficult. I’ve seen laterals from BB to tier 1 Rx firms, and also laterals from tier 2 to tier 1 RX shops. I think the difficulty in lateraling arises not only from how technically challenging the work is, but also from how few spots in here are in RX compared to M&A and coverage groups.
what constitutes a tier 2 rx shop? Like the Moe/PWPs of the world?
Moe would prob be 1.5, PWP/Ducera/CVP prob T2.
If we had to put rankings would prob look something like
T1: PJT / HL
T1.5: EVR / Moe
T2: PWP / Ducera / CVP
T3: Gugg/ GHL
T4: else
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