Lateraling a month into training?
Would this be an absolute dick move or does it happen? I wasn’t really looking for it but a good opportunity might be presenting itself.
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2nd year analyst here - I think it would be a terrible move, unless you're going from small regional no name boutique to top BB but even then, it would be pretty disrespectful. We had laterals come in over the past couple months, and from talking to them, it seemed like leaving before minimum 8 months is very frowned upon. The best practice is to do 1 year in your group & then evaluate from there. Not a good look for you if you're trying to leave your group/firm without even getting on the desk - just my thoughts from what I've heard
Right, it’s frowned upon (and you don’t want to burn bridges), but if it’s a job your really (!) want…might make sense despite the look
I'm curious - if the bank hiring them wants to hire them, why does it matter if the previous bank isn't happy? Obviously they wouldn't be happy but if your new employer doesn't care I don't see the downside
Agreed
So what if it’s frowned upon? If shit was bad for your firm, they’d fire you a month in even though you just moved to the city and signed a lease.
do what's best for you, not for your firm. they don't care about you or anyone. who cares if it's frowned upon if it's the right move for you personally. they'll get over it
Personally, I would recommend making the jump if it's an uptier opportunity. People at your current firm will get pissed in the moment, but will quickly forget about you in a couple weeks time. Out of an abundance of caution, I recommend not updating your LinkedIn / making it known where you are going. In a scenario like this, it's best to lay low until you've built up a strong reputation at your new firm in case anyone tries to bad-mouth you.
Going to say I also don't see the issue if you get the offer. But, i would caveat that I don't know whether it is possible to not disclose uou work where you are now or if you should just interview with it on the resume. If the company ends up hiring you then who cares if it looks bad?People will uustforget and move on. But you should be cautious, not update LinkedIn etc.I would say it's pretty weird to lateral in your case because you haven't finished training and all that or might not have passed securities exams etc (?) and the timeline may be awkward with when you join the next firm (though if you will be a new start and going through their training, etc. sounds like a big plus). Definitely not the best look, but if possible would just write your resume and conduct business like you never joined the firm in the first place (but idk about finra and stuff) and leave the firm without giving them a reason. If you want though, just keep the firm on your resume and be transparent. If you get the offer then great, but I doubt you would with it on because no one will want to hire someone in that situation.
I don’t know why other poster is such a pussy but ‘disrespectful’ is the most stupid reason I’ve ever heard in my life as a reason not to lateral. You kind of have to think a bit like a psychopath in the sense that if there is a way to get away with it with little/no blowback, it makes sense, you’re net better off, execute that.
However I can’t offer you more advice than that because I know less about lateraling 2 months than reneging after accepting
Did you renege? What was your experience doing that? All positive, or negative consequences too?
I and several, several others I know have (and would text, go through what to say, etc).
If you keep the communication short and concise, it is extremely simple and you come out of it thinking wow I overthought that so much. I mean, you can do it in a way that's almost 0 risk and maximize your options, and screw whoever said you "had to make a decision by 1 week". It's a lot of pressure to say no just to keep recruiting, so just do what's easy. I don't know why people believe the propaganda that reneging has tons of negative consequences (only if they know where you're going or you tell them that you took another offer elsewhere-- just have to quit in simple terms, I'm quitting for personal reasons and leave it at that or something similar) or that they will care after 2 days even if they do at all.
Obviously no need to be aggressive or feel malicious, but it's just very cut and dry if you treat it that way and ends up being a huge net positive. At least for us juniors.
Bump. Any other thoughts?
They would replace you with someone who can add more value in a heartbeat if they could. Live your life putting yourself and your interests first before anyone else. Yes it’s frowned upon but fuck it. Would you rather follow the norms and listen to how other people say you should live your life? Do what you think is right and in my opinion, if the new lateral position is what you want more, just dip.
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