What would make an MD lateral every few years?
Just looking on LinkedIn, and I see some MDs who have been lateraling every 3-5 years several times as an MD. Is it just because they are offered higher comp?
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I am 90% sure it means that management realizes they suck/are full of shit/they are a total spoofer about their rolodex.
Usually the banks get worse with each move
Citi > Truist > KeyBanc > ZXY Capital Markets > Tobin & Co.
yup, the good MD's stay the longest no question. the dogshit ones cruise for 3 years or so and then its onto the next
Its also partially because the banks don't want to keep spending resources on the MDs that don't convert.
Don't confuse this with the MD's that go top bank to bottom bank for a lifestyle change though.
True. Know an MD that went from a top EB to a new group at an MM partially for lifestyle, and partially because she wanted to "build something new".
Exactly this. Every time I see one of my old MDs who was a bum get a new job it makes me cringe. No idea how some of these guys finagle new positions with their latest cred being like 4 years ago
They are smooth talkers, I'll give them that
I know in my current office building (almost all corporate offices), there's a small 10 investment bank that's ran by former Capital Markets Heads (like 2000s ish) from BBs run a small shop. I'd imagine they're the ones that drive the occasional Ferraris I see in our parking. It's very rare to see a car nicer than a Porsche where I work.
Feels very odd having moved from a Tier 2 / 3 city to Manhattan and seeing far less exotic cars driving around. Of course you'd have to be an absolute masochist to subject even a nice 5 series to the joys of Manhattan streets.
True. It's not like I don't know people who could probably afford a Ferrari on my floor. Two of the people in my department were cofounders and one of them openly told us how much he made when they got bought out by a MFPE firm (8 figures, $20 million and I believe he still kept some equity for a pretty hefty check since it looks like our PE sponsor is eventually trying to sell us to a strategic).
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