Post MBA ASOs who lateraled, why’d you do it?
Contemplating lateraling from a mid-tier BB to a top tier one. Struggling with the decision of losing the goodwill I’ve built in my current group over the past 1.5 years vs. better deal experience & brand. Curious to hear others opinions.
Many good reasons to lateral but most do it for either culture, prestige or comps. EBs (EVR CVP etc) are the only firms I would consider worthwhile to lateral to becuz they check the boxes for all three factors. Have considered GS but decided against it as it only offers prestige and nothing on comps/culture. Prestige is prob more impt for analysts but if you are already an associate or someone looking to stay in banking for a while then sustainability is much more impt - I.e working for a good team with strong culture and WLB.
I was in a similar situation. I got the opportunity to laternal from Mid tier BB to top BB. I decided against it because I was genuinely happy and learning. I took the bird in hand because it would be more sustainable.
Made sense in my case purely for brand elevation as I am hoping the tier 1 name is useful for pursuing something entrepreneurial in the near future (I'm not staying past associate).
Likely results in a bonus haircut, unless you can guarantee the amount up front (I could not).
If you're planning to stay on for VP+ make sure you know the lay of the land - which seniors are looking for VPs and why i.e. are they bad to work for? pursuing a new line of business? etc., how many others are in line for VP and what do you think the group can support? Have a lot of people left the group/firm recently - why?
Good luck!
I hope this thread gets more traction as I love these types of questions.
Could someone please address some of the perks/opportunities that building tenure at a good firm and with a good team affords you at the Analyst 2/ASO level?
Bump
When is the earliest that you can lateral? How difficult is it to change coverage groups?
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