Currently AN2 at a LMM boutique doing TMT coverage work located in a T1 city but interested in lateraling to a MM+ shop this spring due to a variety of reasons (namely looking for a larger shop which has a more established structure processes etc. + brand name I can leverage moving forward).
Key question I had in mind was what the typical timing for lateral process is, how the market is looking now, and what the rough timeline to get into a seat would be. Curious to hear thoughts in light of market slowdown + recent layoffs across both MM and BB firms. Thank you in advance.
Based on the most helpful WSO content, the lateral process can vary in length, but it's not uncommon for it to take around 3 weeks. However, this can be influenced by a variety of factors, including the current market conditions and the specific firms involved.
As for the current market, it's important to note that the situation can change rapidly, and it can be influenced by a wide range of factors. However, based on previous WSO threads, it's not uncommon for there to be layoffs in both MM and BB firms during periods of market slowdown.
In terms of the timeline to get into a seat, this can also vary widely. Some people start networking and talking to alums about 6 months in and leave at the 1 year mark. However, this can also be influenced by a variety of factors, including the specific firms and roles involved, as well as the individual's own circumstances and preferences.
Remember, it's always a good idea to start networking and gathering as much information as possible about the lateral process as early as possible. This can help you to better understand the process and increase your chances of success.
Sources: Advice for New Analysts Seeking PE Exits, MM Analyst Looking to Lateral to BB/EB - Thoughts / Comments on Process?, How long was your lateral process ?, Analyst Lateral from MM to BB/EB
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