Hello, I'm interviewing for a very regional boutique firm in Cleveland. I really want to lateral into a middle market bank like BMO or Houlihan Lokey or William Blair in Chicago. Would this be doable? This firm is real small so I'm having some doubts about it.
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Lateraling from a very regional boutique to a middle market bank like BMO, Houlihan Lokey, or William Blair in Chicago is possible, but it will depend on several factors. Based on the most helpful WSO content:
Experience and Skillset: If your current firm provides you with solid M&A or modeling experience, you’ll have a better chance of making the move. However, if the boutique doesn’t offer much exposure to these areas, it could be a challenge. You may need to position yourself as someone willing to take a step back to learn and grow.
Networking: Networking will be critical. Start reaching out to professionals at your target firms for coffee chats or informational interviews. Building relationships can help you get your foot in the door.
Market Perception: Smaller regional boutiques may not have the same reputation as larger firms, so you’ll need to highlight your individual contributions and skills. Demonstrating your ability to handle live deals, even if they’re smaller in scale, can help.
Chicago Market: The Chicago market has a strong presence of middle-market firms like William Blair, Houlihan Lokey, and BMO. These firms are known for their focus on specific verticals (e.g., Houlihan Lokey’s strength in restructuring and consumer & retail). Tailor your pitch to align with the strengths of the group you’re targeting.
Challenges: Keep in mind that lateraling from a very small boutique to a middle-market bank may require extra effort. You might need to start at a slightly lower level or prove your technical skills during the interview process.
If you’re proactive, network effectively, and position yourself well, this move is definitely achievable.
Sources: Lateralling from a mid-market to a BB / EB, bb chicago or mm chicago for IB?, Your thoughts on William Blair & Company?, How to Navigate FT Recruiting: Learn from My Successes/Failures
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