Questions Around Internal Mobility & Lateraling Groups
Going to be joining a product group this summer as a FT analyst and am looking to lateral to a traditional coverage group or a more modeling intensive product group after 1 year (possibly after 2 if need be). I am looking to move to the buy-side after IB and this move would make the most sense for my long-term career/goals. Would be open to switching firms but feel as if testing internal mobility would make sense. My questions are:
- Process: For anyone whose gone through this process after joining a firm, what did that process generally look like?
- Time Line: When did you initially start networking with the group(s) you were interested in? When did you formally express interest in the group? When did you interview internally? With who and how did you bring up the idea of switching groups (MD/Staffer/HR)?
- Office Politics: How did you manage the politics behind a move like this when it comes to expressing interest in/interviewing with another group while you’re still with your current team?
- Duration: Is lateraling groups internally feasible after 1 year or is two years required? When does the actual move generally happen? (would assume the summer time, hoping there is enough time for on-cycle recruiting with the following class of analysts)
Any answers from willing and able current professionals would be greatly appreciated.
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I moved from a product group and it took a year from expressing interest to the group head to actual move. I worked with the group I wanted to move into and they happened to have an open spot that they held. I communicated more with the group I wanted to join than my current group. At my firm, you have to be in your current role for 1 year and it is affected by bonus season and headcount sizing. Generally, it's easier to move when you're in NYC for example to a different floor than from say, the CHI office to NYC office. Happy to answer any other questions but again this is all dependent on your bank and your office.
How did you deal with internal politics of raising the fact that you wanted to move groups and not upsetting your managers / current group? By saying that it took you a year from expressing interest to the actual move do you mean you expressed interest say 6 months in and you finally got to move 1.5 months into the job out of your 2 year program?
I would say that mobility is highly emphasized at my firm and I was considering a move of offices and then decided I wanted to switch groups and stay in my current location. I consulted with my mentors and approached it as a win-win for both myself and my current group. It was pretty informal for me.
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