How to lateral for FT 2025
Incoming summer analyst at a top MM in Chicago. I am looking to lateral to an investment bank with better exit ops in either New York (1st option) or Chicago.
When should I start networking? How do I network and interview during the summer without my team becoming suspicious? Do most banks post applications, or are they mostly referral based? Are the interview questions fairly similar besides the modeling tests?
If there's any thread detailing the lateral process after a SA stint, could anyone please link it? Thank you
Based on the most helpful WSO content, here's a comprehensive guide to help you navigate the lateral process for a full-time (FT) position after your summer analyst (SA) stint, especially when aiming to move from a top middle market (MM) bank in Chicago to a bank with better exit opportunities in New York or Chicago.
When to Start Networking
How to Network and Interview Discreetly
Application Process: Referrals vs. Postings
Interview Questions and Modeling Tests
Finding Detailed Threads on the Lateral Process
Remember, the key to a successful lateral move is early and strategic networking, being discreet in your search, and thoroughly preparing for interviews. Good luck with your journey from Chicago to potentially New York or staying within Chicago but at a firm with better exit ops!
Sources: SA Lateral, Lateralling Job Market, 20 Most Frequently Asked Questions - London Edition, Guide to Lateraling in 2021, How to Approach Lateral Transfer
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From what I know, You reach out to contacts in groups you really liked at banks around now to late spring just to reconnect and “catch up” (They know what you’re doing). Just casually say you’re exploring all of your options or you can be blatantly honest with them if you know the contact very well. Then, they’ll typically tell you to reach out to them again over the summer and if you’re in the same city to have an in person coffee chat. Your goal for the entire summer is to get a return offer from your current bank and then your secondary concern is re-recruitment. They will usually tell you when to submit your app, but if you are in a position where you didn’t really keep in contact with people, then just reach out to alumni from your college in specific groups you want at banks you want and just try to establish a connection. The goal of preliminary chats should be to just talk with them and get a look at if you have a shot with the group. If they like you/think you have a shot, they’ll probably tell you to reach back out over the summer. Anyways, most FT apps are posted late summer/early fall.
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