Tech/TMT Lateralling - MM to BB/EB

Based on the most helpful WSO content, lateraling from a strong MM Tech/TMT franchise to a top BB/EB in London as an analyst is definitely achievable, but it depends on several key factors:

1. Deal Sheet and Experience:

   • Your accumulated deal sheet, including the number of deals, deal size, and your specific contributions, is a critical factor. Demonstrating strong technical skills and deal experience is essential, as BBs/EBs will want to see that you can hit the ground running.
   • However, as noted in WSO threads, analysts are not expected to have closed multiple deals, especially early in their careers. A solid understanding of technicals and a clear story about why you want to make the move can compensate for limited deal experience.

2. Networking and Warm Relations:

   • Networking plays a significant role in lateraling. Building relationships with analysts or associates at your target BB/EB can provide insights into the team culture and hiring needs, and potentially lead to referrals. Many successful lateral moves are facilitated by strong networking efforts.

3. Team Track Record:

   • If your current MM team has little track record of placing analysts into BBs/EBs, it could be a slight disadvantage. However, this can be mitigated by your individual performance, networking, and presenting a compelling narrative about your move.

4. Direct Move vs. Intermediate Step:

   • A direct move to a top BB/EB is realistic if you have strong credentials, a solid deal sheet, and effective networking. However, if you face challenges, an intermediate step to a lower/mid BB/EB can be a viable strategy to build your profile and increase your chances of eventually landing at a top BB/EB.

5. Timing and Openings:

   • Timing is crucial. Lateral openings often appear after bonuses are paid out (end of June/early July), and the process is unstructured. Staying proactive by monitoring job postings and leveraging platforms like LinkedIn and Indeed is key.

In summary, while deal experience is important, networking and presenting a logical, compelling story for your move are equally critical. A direct move is possible, but an intermediate step can also be a strategic option depending on your circumstances.

Sources: Analyst Lateral from MM to BB/EB, Lateraling Guide for Investment Banking, Leaving My BB, Advice for New Analysts Seeking PE Exits, Q&A - From Non-Target to VP at EB