Interview Process for Laterals
What is the interview process for those lateraling? Is it similar to SA, BIWS technicals, or more deal-centric and harder technicals?
Also, is it even possible to lateral if you've primarily been working on pitching?
Typically less structured, can either be a quick first round and then superday if they have enough applicants. Realistically these are rolling applications so more common to talk to 2-3 associate/VP (including staffer) and then another 2-3 interviews with MDs and offer from there.
Very very deal and experience focused, but brush up on your SA technicals (shouldn't be harder than that). You should try to pick out 2-3 pitches you did a lot of work on and put them on your resume and talk about your contribution. You don't control what your group does so don't worry too much about lack of live deals. Focus on your experience (did you build the model? Prepare materials on XYZ transaction presented to senior management?). If you aren't able to talk much about your deals wait a little longer - would probably say minimum 6-8 months to lateral to have your best shot at opportunities.
Assuming 8 months min into 1st year, when would the lateral role start? 1-2 months after?
Typically ASAP (like 3-4 weeks from signed offer) unless your bonus is coming up very soon and they want to avoid paying it out
Internal or external?
internal is very chill, went through the process with two different coverage groups, just networked with analysts and associates then talked to staffers and group managers. Was able to get the offers without a formal interview (good thing, didn’t have time to study for technicals and would’ve gotten straight cooked).
that said, I had strong support from my previous group head to add credibility
I went through a process that may have been considered “lateral” with HL though I was technically not employed when I interviewed with them. I applied on website, had an HR screen, phone screen (this was pre pandemic and zoom days) with a VP/SVP/staffer, then an in person “super day” with 4 back to back 30 minute interviews with MDs and Ds in the group. Nearly all of the time was spent on fit/behavioral/get to know each other type questions. The only technical stuff that stuck out was one of the D’s who turned out to be more of the behind the scenes staffer/COO of the group asked some fairly basic IB technicals on valuation methodology and why one method may lead to a higher valuation than the other since the group used that info fairly regularly in their work. He said it was just for the sake of keeping interviews standardized among candidates. After that I basically waited for a few weeks or a month maybe until they gave me an offer over phone/email. They said I could start fairly soon but no later than in a month’s time and I ended up starting in a month. I hope that helps
Just wondering, is it normal to have to wait nearly a month before them getting back to you on the outcome of your final round interview? Why did it take so long?
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