FT or lateral?

Based on the most helpful WSO content, here are some insights and advice for your situation:

Full-Time (FT) 2025 Positions:

• Eligibility: As a recent graduate, you can apply for FT 2025 positions. These positions are typically aimed at recent graduates or those with minimal work experience.
• Application Process: The process for FT positions usually involves submitting your resume online, followed by multiple rounds of interviews, including behavioral and technical questions.
• Networking: Networking is crucial. Reach out to alumni, attend industry events, and connect with professionals on LinkedIn to increase your chances of getting noticed.

Lateral Positions:

• Eligibility: Lateral positions are generally for candidates with some relevant work experience. Since you will be starting a corp dev role, you could be considered for lateral positions after gaining some experience.
• Application Process: The lateral hiring process is often more group-dependent and can be quicker than the FT process. It typically involves:
  • 1st Round: Phone screen with a VP or director focusing on behavioral questions.
  • 2nd Round: Case study and technical questions.
  • 3rd Round: Additional interviews, possibly with senior team members.
• Networking: Networking is even more critical for lateral positions. Many lateral openings are not posted online and are filled through internal referrals. Make meaningful connections with people who can advocate for you.

General Tips for Navigating the Process:

1. Network, Network, Network: This cannot be stressed enough. Building relationships with people in the industry can open doors that online applications cannot.
2. Create a Target List: Identify specific firms and groups you are interested in. This helps focus your networking efforts and ensures you are targeting places that align with your career goals.
3. Leverage Your Current Role: Use your corp dev role to gain relevant experience and skills. Highlight these in your applications and during interviews to make a strong case for why you are a good fit for IB roles.
4. Stay Persistent: The job market can be tough, but persistence pays off. Keep applying, networking, and improving your skills.

Breaking into Lateral Recruiting:

• Timing: Typically, you need around 9-12 months of experience to make a strong case for a lateral move.
• Proactive Search: Constantly search for lateral positions and set up job alerts. Reach out to friends or cold email other banks to inquire about openings.
• Networking: Again, networking is key. Connect with people who have successfully lateraled to the groups you are interested in and seek their advice.

By following these strategies, you can navigate both the FT and lateral recruiting processes effectively. Good luck!

Sources: Guide to Lateraling in 2021, Guide to Lateraling in 2021, Lateralling Job Market, Lateral Hires - What were your interviews like?, Which firms do lateral hires for entry-level positions now?