Questions About Lateraling

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

1. Timing for Lateraling

• The ideal time to lateral is typically 6-18 months into your full-time role. This allows you to build enough deal experience and credibility at your current firm while still being early enough to make a move without raising too many questions.
• Some people successfully lateral after just 6 months, but this is less common and may require exceptional networking or a strong deal experience to stand out.

2. Lateral Opportunities: Networking vs. Formal Processes

• Networking is critical for lateraling. Many lateral openings are not formally posted online, as firms often prefer to tap into their employees' networks to fill roles.
• While headhunters can play a role, networking with alumni and professionals at target firms is often more effective.
• It’s not advisable to express interest in moving firms before you even start your FT role. Instead, focus on building relationships and asking thoughtful questions about their experiences.
• When reaching out, target associates and senior analysts—they are more likely to respond and provide actionable advice.

3. Timeline for Lateraling

• The lateral process can vary widely. Some processes take as little as a week, while others can stretch over several months.
• Once you receive an offer, the time between accepting and starting at the new firm can also vary, but it’s often a tight window (a few weeks to a couple of months).

4. Housing and Roommates in High-COL Cities

• Finding housing in cities like NYC, SF, or CHI on short notice can be challenging. Many laterals rely on:
  • Short-term rentals (e.g., Airbnb or sublets) to bridge the gap.
  • Networking with colleagues or alumni in the area to find roommates or housing leads.
• Start researching housing options in your target city early to familiarize yourself with the market.

5. Preparation Before Starting FT

• Technical Prep: Dedicate time to mastering technical skills. Use resources like the M&I interview guide and modeling courses to ensure you’re ready for technical interviews.
• Networking: Begin building relationships with alumni and professionals in your target firms and cities. Focus on meaningful connections rather than volume.
• Resume: Highlight your deal experience and transferable skills. Consider using WSO’s resume review service to ensure your resume stands out.
• Internship: If possible, take on a relevant internship before starting FT to further strengthen your technical skills and experience.

By focusing on these areas, you’ll position yourself well for a successful lateral move. Good luck!

Sources: Guide to Lateraling in 2021, Lateraling Guide for Investment Banking, 20 Most Frequently Asked Questions - London Edition, https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1