Lateraling as Analyst

Here’s what you need to know based on the most helpful WSO content:

1. Reasonable Time to Start Prepping/Looking for Other Spots

   • Generally, lateraling is most effective after 6-18 months in your current role. This gives you enough time to build a track record, gain deal experience, and avoid the stigma of jumping too soon (which can raise red flags for recruiters).
   • Use this time to network aggressively, polish your resume, and prepare for technical and behavioral interviews.

2. Difficulty of Lateraling to Other Banks

   • Lateraling is possible but challenging, especially if you're coming from a lower-tier bank. Your deal experience will be the most critical factor. Banks and recruiters prioritize candidates with strong deal exposure over brand names.
   • If your current bank doesn’t offer great reps, you’ll need to compensate by demonstrating technical proficiency and networking effectively.
   • Be prepared to address why you’re looking to move and how you’ll add value to the new team.

3. Impact of Non-Target School Background

   • Coming from a non-target school can be an obstacle, but it’s not insurmountable. A strong resume with relevant experience, solid technical skills, and a well-maintained network can help you overcome this.
   • Focus on building relationships with alumni or professionals at your target banks to get your foot in the door.

4. Is It Worth It?

   • This depends on your long-term goals. If you’re aiming for private equity, lateraling to a stronger platform (e.g., a bulge bracket or elite boutique) can significantly improve your chances of landing a PE role.
   • However, consider the trade-offs: better hours and decent bonuses at your current bank might be worth staying if you value work-life balance.

5. Additional Tips

   • Networking: Start reaching out to people at your target banks now. Informational interviews can help you understand the culture and opportunities at other firms.
   • Skill Development: If your current role isn’t providing strong technical reps, invest in self-study or courses to sharpen your modeling and valuation skills.
   • PE Recruiting: If PE is your ultimate goal, lateraling to a better bank can help, but you’ll still need to demonstrate strong deal experience and a clear understanding of the buy-side.

Ultimately, lateraling can be worth it if you’re strategic about timing, networking, and positioning yourself for your long-term goals.

Sources: https://www.wallstreetoasis.com/forum/investment-banking/breaking-into-private-equity-from-banking?customgpt=1, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, Associate at a small bank, didn't get offer at BB internship, what do I do now?, How screwed are IB associates if they're laid off?, No country for old I-bankers (starting a mid-career thread for finance professionals)