When Do We Think the Lateral Market Is Coming Back?

Curious what everyone’s seeing right now across IB recruiting — especially on the lateral side.

Feels like the market has been brutally slow for a while now, with very few seats opening up and tons of candidates waiting around. Has anyone had recent success landing something, or at least getting traction with interviews?

Would love to hear everyone’s experiences and thoughts on:

  • How bad things really are at the moment - e.g. how many applications / DM inbounds vs. first round interviews received?
  • If you don't currently have a job, are you expanding your search to any position, even if its a relatively big downgrade in pay/seniority/bank?
  • What people think the timeline looks like for the market to thaw — early ’26? next summer?

Trying to get a sense of how others are navigating this cycle and what expectations people have.

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