The reason the lateral market is so hot is because IB sucks
Its not because of "deal flow" or "cash on sidelines ready to invest"
Its because everyone hates this job and doesnt want to do it anymore.
It will not get better. Expect a "hot market" for sometime unless things change and talent completely avoids it altogether forcing change.
I dunno, I've heard the lateral market is really hot for tech as well right now. It seems like the job market in general is hot now as companies ramp up hiring as we recover. I could be wrong though, maybe it's a bit of both for IB.
Might have to disagree, hasn't been insane turnover compared to other years and dealflow is shattering records for early Q1. I could be wrong but from speaking with people from my group / bank it seems like people are toughing it out
bump
IMO it's a perfect storm. I work in consulting but I'd imagine the same applies:
there are still way more candidates than BB/EB/UMM open lateral spots though. for every person that leaves there's prolly like 5 that are qualified and ready to take that seat
everyone thats wants to join my bb is from no name schools or some chop shop in columbus ohio srs
no one good is trying to enter IB right now
cant remember the last time a target school reached out (Im from a target school), its all appalachian state university kids
interesting - i know many kids who have traded up from MM --> BB and seems like their process was filled with kids with similar profiles
also can you share which BB? not like you're gonna dox yourself since BBs are so big
Lol, the same thing, mostly getting reached out to by top 150 colleges, not even mid-tier state schools like maryland / florida etc.
But I think what OP is referring to is that once people actually get into IB - they end up leaving before 2 year mark. I think it differs though because I don;t think the lateral market is fluid because of people expecting to leave after first year bonuses land, but mostly because of dealflow?
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