Perspective on 2023 Lateral market
How do you guys think the lateral market in 2023 will be? I have been trying to lateral to a top BB/top mm/ EB but has been super difficult. Hoping there will be a stronger market early 2023.
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Hi Analyst 2 in IB - Cov, check out these threads:
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I hope those threads give you a bit more insight.
what have you been doing to test the market? networking via cold email? resume drops? curious about this as well. would suggest weathering out the recession since BBs have been reducing workforce across the board (goldman, ms, jp, credit suisse). better to move next year when things look up
Applying, networking, hh. All have been gaining little to no traction.
i was shooting for this year as well but realized it might be good to stay patient. built up goodwill in your own team is better than jumping ship to a new place and trying to earn your stripes. i have a feeling itll be a bumpy ride overall, especially closing deals in this environment, have a feeling that summer '23 might be a good shot to move. whats ur thoughts on how ur planning ur move
It seems like the demand for laterals will continue to cool until markets settle but I doubt it will reach the peak we saw last year and early this year where they were hiring any dud with a pulse.
Agree with comments on this post to be patient. Better to wait for or stay in a busy team that can keep the lights on than to move solely for a prestige bump.
Depends on when the Fed cuts rates. If the Fed raises rates until a market crash and then cuts in early to mid 2023, I would expect 2024 to be the best time for a good amount of openings. There will still probably be a few under the table slots at top banks even in this recession, but they will be extremely rare and competitive. Will require a really strong network to obtain
Bumping as I believe this is the latest thread. Does anyone have thoughts on when the lateral market might improve? I've been interviewing but not too many opportunities out there compared to a year ago
What type of banks have you been interviewing at? I’ve seen no BBs, very few EB listings (stuff like PCA) and a decent amount of smaller MMs.
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