Thoughts on Lateraling Within First Month for Experienced Associate?
Starting soon at Bank A after getting laid off from my old bank. I was recently invited to interview at Bank B (applied there before I applied to Bank A). I would rather work at Bank B, but what's the view on leaving Bank A soon after starting? Obviously would burn bridges with Bank A, but Bank B would be a step up from Bank A.
I'm an A2A associate so getting 6 months - 1 year of work experience isn't a concern to me. Wanted to see what others thought about this situation. Thanks!
For what it’s worth I’m in the exact same situation as you and basically reconciled that it’s better to just stick it out with my current offer for 6 months than burn bridges for marginal opportunity. Moving to a bigger shop especially when the market recovers will always be an option but I totally get where you are coming from on wanting to look out for yourself.
Thanks for your input. In my case Bank A is LMM/MM and Bank B is a strong BB. Are you planning on moving to another bank after ~6 months or do you think you'll re-evaluate at the 6 month mark?
Edit: Also I would imagine that banks would rather you quit earlier so they can hire someone immediately instead of 6 months down the road after you've been staffed on projects?
FWIW - if there is that major of a difference in size of bank, why would burning bridges at Bank A matter if there are likely no overlaps in working relationships (unless you know for a fact there are personal ties between groups)? Obviously would not make any decisions without an offer letter in hand, but I don’t see the harm if those relationships won’t come back to haunt you in the next 1-2 years (Bank A won’t remember an A2A even flaked on them in 3 years, and if they would then that’s not somewhere you want to be anyways). Dog eat dog world
I would go through the interview process with bank B. If you get an offer, just take it as long as it’s a group that makes sense and you’re excited about. Lmm or mm to strong BB is a significant jump in brand, deal experience, exit opps, etc. It’s a no brainer unless you’re going from a strong MM coverage or m&a group into like a dcm or pubfin group.
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