When should I be trying to lateral?
I struck out in FT recruiting and ended up elsewhere (non-IB but still finc). I know usually it's recommended to wait 9-12 months to start trying to lateral, but since the lateral market is so hot right now should I be trying now? I graduated in Dec started in my role in January for context.
You could try, but I would be careful to position yourself as someone who wants to move but doesn't need to move. Dial down the urgency of the conversations you have, should be fine.
Thanks for the advice. What's the reasoning for dialing down the urgency?
Just to clarify should my convo go as follows: "I was unsuccessful in breaking in out of undergrad, but am still very much interested in banking. What advice do you have in making the move?"
Lastly, does this mean I should just be targeting random MM firms rather than basing my networking efforts off of job postings? For context- my end goal is MM PE, and I don't really care about prestige.
Most banks want minimum 7-8 months of experience. Lateraling 2 months in will be a non-starter because there's no way you could keep up with current first years. Banks are looking for experienced people to take on work right away. It's not worth it for you to jump to some tiny boutique, the lateral market will be hot through the summer as these WLB problems are not going away
Try in August/September with banks on summer bonus cycles, analysts tend to leave after bonuses and you'll have a solid 8 months on the desk. Even then you'd probably need to be willing to come in as a first year analyst.
Quaerat sequi ut ipsa. Ipsa qui reiciendis itaque explicabo aspernatur accusamus. Culpa modi dolor sequi enim reiciendis.
Ut velit enim id veritatis. Suscipit maxime consequatur in. Libero nostrum praesentium dolor consequuntur sed mollitia aut. Odio debitis reprehenderit repellendus voluptate dolorum. Harum earum est ut nostrum. Et ad pariatur quaerat libero ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...