The art of the lateral?
Currently 6 months in as a first year analyst at a MM firm & looking to lateral to another around Q1, what’s the best way to go about this? Or will less roles be available?
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Can I ask ur dad to get me into CVP
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Hate to be the bearer of bad news, but it’ll be extremely difficult to lateral considering banks are currently to shrinking headcount and you’ll be competing against 2nd/3rd year analysts from BBs for any available positions.
would try to learn as much as possible in your current role so you’re able to beat out the more tenured folks looking for opportunities then. Hopefully deal flow picks up and firms begin to rehire juniors
Yeah that’s what I’m doing right now, I’m doing more trainings outside of work so I have more to show for. Even if I wanted to lateral to a different MM just for geographic reasons?
Nobody really knows when things will pick up again.
It’s certainly the right move to learn outside of work though - when it comes time to start your lateral process, I highly suggest you become proficient at modeling and deal processes to be able to market yourself as so. Pull up 10ks of companies and put together 3 statement models **from scratch**. Tie in a DCF and LBO, again from scratch.
I would also make sure to have references to point to during networking chats/interviews.
do all of these while coming across likable and you’ll be ahead of the competition
You’ll be able to lateral to “weaker” cities if you have family ties. Going from Atlanta or Charlotte to NYC is very unlikely near term.
NYC/SF to smaller market is doable.
Next summer being Summer 2023?
You haven't been through even one full year of evaluation/bonus and you're looking to lateral???
C'mon, son . . .
Not sure why you're getting down voted but I completely agree
I get downvoted because I have a band of little puppies on WSO that follow me around and downvote all of my posts.
That is the price you pay for being a man that stands on his own two feet :)
2 feet, 2 cars, 0 friends
I’m looking to lateral for merely geographic reasons. I don’t like Chicago
That's fine, you don't have to like where you work. But you do need to build your resume and maintain a good history of employment. Finishing out the year in Chicago won't kill you.
Curious to know why you don’t like Chicago (maybe besides the weather)?
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