How long is the lateral process in 2022 for ib?
How long will it take to be reached out to after applying for lateral positions now? And how long does the typical process take from interviewing to getting the offer? Mainly focused for BB's and EB's.
Bump
Bump
Here’s a brief recap of my personal experiences
GS: 1 month interview process, generalist application and interview for “all” coverage teams and are extended offers for teams that you share a mutual interest. HR recruitment handled internally through HCM (human capital management) team. Hireview, superday, no modeling test.
MS: 3 week process, team specific and process is organized by an externally hired 3rd party which uses a MS email. Setting up interviews was a bit of a hassle because these ppl work 9-5 on the dot. Once sent a response at 5:02 and got an automated out of office response that said they’ll respond to me next Monday, interview was Tuesday…had a first round behavioral then a superday with several members of the team including an Md. SD had a mix of behavioral, situational questions (how would you value this X business and what are the risk factors, etc.), and classic technical questions. No modeling test. Really friendly people.
JPM: applied for a industry specific role, and didn’t hear back until I asked a close friend to give my application a push. He wasn’t in the group but Hr didn’t seem to mind. The JP Hr team for me was very slow, likely because their Hr recruiters aren’t staffed on a single division like for Gs. It would take 2-3 weeks if not more for my candidate portal to be updated. They also have by far the trickiest of Bb processes, had to do a pymetrics test even before my interviews. Had a first round which went well but again, super long delay in wait time. They also asked for a modeling test, and a SD interview. One thing which made things especially hard was their “No networking” policy where they’re not supposed to get close with prospective candidates and lend help. Although it would seem to make the process more fair, it does make it extremely hard to actually get to know the teams and what they do intimately. Throughout my process, most of my knowledge about what they did was via factset, press releases, and rumors. It makes answering the question “why do you want to come to JP” rather difficult. Never ended up doing the modeling test and to this day my application status is still in purgatory mode of “under consideration” lol.
Lazard: absolute mess, I admit I’ve been a bit harsh on them on this forum but seriously wtf. Got ghosted for 3-4 weeks at times only to be told they’re interested in bringing me in for a first round and later same thing before my super day. Process was almost 3 months from my initial application/outreach. Ended up hearing back 3 weeks after my SD that I didn’t get it, honestly, glad I didn’t. I asked about compensation during my SD and they seemed almost perturbed that I would mention pay. Lol, not doing this job for free guys. Dodged questions about paying clawback, and base pay, stating they realize that other “peers” paid higher but they were confident in their brand and felt their analysts would understand the “slight” variation in pay in exchange.
Gugg: had a great experience, the process was fast, only about 3-4 weeks from start to end. They had a very intense technical process. A full 3 statement build, on top of an actual technical based 1st round interview. People were very friendly and HR was very on their game.
Moelis: Recruiter Kristine is super helpful and friendly, helped set up chats with groups I was interested in before interviews started. Didn’t end up moving forward after the chats due to differences in work preferences (a lot of work with sponsors and mostly undisclosed private transactions). Was told that they would’ve had an accelerated timeline with first round and superday within 1 week of each other. Had a friend interview there and he heard back post superday within 24 hours. A pretty fast paced process all around.
PJT, CVP: don’t seem to hire off cycle for their top programs (RSSG for PJT and Generalist M&A for CVP, was told to reach out to them during the summer for open opportunities)
How technical were these interviews for you difficulty/complexity wise? Have heard anecdotes that during the covid lateral hiring boom banks were asking basic/minimal techs and were more focused one fit or behaviourals for laterals? Is this true? Or would you say the difficulty is a bit higher than just going through the standard 400 qs BIWS guide?
Depends on the banks and your interviewer. I've had situations where one interviewer just dives right into the nitty gritty details like having me calculate fully diluted shares and then 15 minutes later the next person wants to know what my favorite basketball team is. Best advice is to be prepared for anything.
Do you have any info on Evercore?
Evercore: Technical first round with hr. 30 minute ppt/excel test. Behavioral interview with an associate followed by a super day with a case.
I also had the opposite experience at JPM as the poster above. Process took about 10 days and was entirely behavioral and hr wasn’t involved until after I got the offer.
Personally didn't recruit there as the groups they had openings for weren't my personal interest (PU&I, Industrials, and PCA). However, knowing Evercore, I would bet it's super heavy on the technicals. Out of all the WS firms, I think it's without question that Evercore has the hardest technical interviews (from my personal experience interviewing there in college and my friends who are there rn). They hire juniors to be masters at execution, and that shows in their hires (a lot of 4.0 students, a bit more academic and nerdy than other banks, etc...).
When did your friend interview for Moelis? And what office?
Took me about 3 weeks from first convo to offer in hand. I think it was 4-5 rounds
JP Morgan: After superday, they won't respond for weeks if you dont get the offer. Either within a few days or you'll never hear from them, its tough.
Was told I would get feedback relatively quickly and felt the interviews went quite well. Haven’t heard back yet, is there an appropriate time to wait before reaching out?
Maybe reach out instead of bitching on WSO?
Haha what? It was a simple question, no need for the aggression lmao
Yeah wtf, prospects lol…
Any info on BofA?
Id perferendis atque labore. Quia perferendis non dolorum unde tempora quo maxime accusamus. Eius dolor dolor dolorem aliquid sit quia aut.
Dicta debitis non id delectus rerum eum beatae accusantium. Facilis rem facere in nemo. Qui voluptate nemo ipsum dolore ducimus voluptatibus.
Occaecati et culpa temporibus sit sunt. Temporibus sequi at temporibus maxime dicta. Alias hic est corrupti explicabo sapiente. Enim quod eligendi sit consequuntur tempora et et.
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...