Taking a lateral offer in late 2022?
Anyone looking or accepting a lateral position lately with the current economy? In a weird spot at my MM as an experienced analyst and was just offered an associate position at another MM.
Curious if this is a horrible idea if/when things get worse since I’ll be the most recent hire for their M&A group. Appreciate the advice in advance. Don’t want to make a horrible choice and get laid off…
Congrats on the offer and promotion! My take: groups that have openings right now REALLY need the spots filled. No bank is making offers right now to people unless the person is fucking rock-solid and necessary. I fully believe the MDs in my group would lay off longer-tenured mediocre employees before our recent lateral hires. In some ways, in this economy you want to be in a group that is looking to hire more people, as opposed to a bloated group that is just waiting to be cut down.
Of course do your due diligence, don’t join a bank that is known for chopping headcount, but also don’t pass a great career-making opportunity. How did you swing the lateral with a step up in title?
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