Incoming 2025 SA in NYC, was wondering HL policy on swapping groups like this and whether my group would ding me for return if i expressed interest. Was very late to rx recruitment last year but made it to spd for a tier 2 rx group so would prep alot more if this move was possible
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Based on the most helpful WSO content, internal group swaps like moving from HL CF to RX for FT are possible but require careful navigation. HL is known for its strong RX group, and expressing interest in switching groups might not necessarily "ding" you for a return offer, but it depends on how you approach it.
Here’s what you should consider:
Timing and Communication: It's crucial to time your conversations well. Typically, you should wait until you've proven yourself in your current group during your SA stint. Expressing interest too early might raise concerns about your commitment.
Leverage Internal Networking: Start building relationships with people in the RX group during your internship. Attend events, reach out for coffee chats, and show genuine interest in their work.
HR and Staffer Involvement: Once you’ve built rapport and have a clear understanding of the RX group’s needs, you can confidentially discuss your interest with HR or a staffer. They can guide you on the process and whether there are openings in RX for FT.
Performance in Current Role: Ensure you perform exceptionally well in your CF role during the SA stint. A strong performance will make it easier for you to negotiate a group switch.
Preparation for RX: Since you mentioned being late to RX recruitment last year, use this time to prep thoroughly. RX interviews often focus on distressed scenarios, valuation, and technicals, so being well-prepared will demonstrate your commitment to the switch.
HL is generally supportive of internal mobility, but the key is to approach it strategically and professionally. If you handle it well, this move is definitely possible.
Sources: Top Restructuring Groups 2019 & Restructuring Questions, Why You Should Consider Restructuring – Common Misconceptions/Insight on RX Groups, RX Rankings 2022 - Can we please get restructuring rankings for the benefit of students and incoming interns looking to lateral, Recruiting for RX FT after M&A virtual internship?, Internal Lateraling Guide
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HL treats CF and RX separately afaik and does not allow switching (neither as an incoming analyst nor later as lateral)
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