Return To Old Firm vs Re-recruit? - Urgent Help Needed
Hi all, I interned at a LMM / MM boutique bank in NYC / SF this past summer and got a return offer. I'm incredibly grateful for it and it's a tremendous firm to join. However, If I'm being honest, I feel that I could obtain an offer from a better firm given I want to exit into Private Equity down the line, and I'm also an international student.
How feasible would it be to re-recruit in this given market? Thanks!
You've honestly missed the boat on recruiting. If you're a current junior, 2023 SA is all but done, and if you're a senior FT is wrapping up as well. Unless you have heavily networked all summer and have active processes going on, you're not going to have much luck getting into BB/EB/name brand MM this late. International also severely narrows the list as not too many banks sponsor.
You can lateral at 1 year to a bigger bank and then do offcycle PE recruiting if that's your ultimate goal
Thanks for your answer. If I look to lateral in the first few months of my job (1-4 months) - is that possible or frowned upon?
No that's not possible. I'd say 6-8 months is the earliest anyone will even consider you to lateral. 10-12 months you will have the most opportunities for senior analyst spots especially if you want to move upmarket to BB/EB.
Consider yourself lucky, didn’t get a return this summer and FT recruiting is absolutely fucked this year. Not even worth it at this point, you have a much better shot at an upgrade when the market picks up in a year or 2. I interned at a DB/WF/RBC type place and I’m most likely going down market to LMM
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