How feasible is for a second year M&A analyst at Wells Fargo to lateral directly to a tier 1 bank (Goldman, Morgan Stanley, JP Morgan)?
Or do you think that maybe I should lateral first to a second tier bank (Barclays, BoA, UBS, CS, Nomura) before doing the final jump?
Also, do WF analysts an associated have any chance to land an offer at a PE Megafund?
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I mean yea it is feasible to go from WF to any of the BBs but I would not recommend doing two jumps to get something like GS. Regarding MFPE, from what I understand, your likelihood is probably pretty low. Not impossible, just pretty low odds.
If you’re in the M&A group should be doable - would give looks to the mid tier BBs and EBs simply because recruiting is such a crapshoot and exit ops will be much better
Yes, it’s pretty easy especially in M&A
From WF to GS, MS, JPM or elite boutique is perfectly doable and pretty common.
From WF to EQT, Blackstone, KKR, WP... is very difficult but not impossible.
If you want to lateral to a top tier Investment Bank sooner or later you will get your chance. My recommendation is to be patient and wait for the right opportunity to come rather than rushing into a lateral move to mid BB. It's not good for your resume to show you're switching companies every 8 / 10 months.
Having said that, I am not sure whether leaving Wells Fargo for Nomura or UBS would be a step forward TBH. Wells Fargo entered the IB business very late compared to the rest of banks, but they are catching up quickly. For American companies they are probably better positioned than Nomura, while UBS IB is clearly in decay.
Personally know someone who did it about a year in (maybe a little more) and then landed solid PE exit. Know another person who went from UBS/DB to GS. And this was 1-2 years ago before this crazy lateral market
Also, lateraling twice is a terrible idea. It’s just inefficient. And every time you move you realistically need to stay in that seat for at least 12 months. Also by the time (if) you get to GS/MS/JP you’ll be at least a 2nd or 3rd year and if you don’t want to go a2a what’s the point
Given that I, a VP at a similarish-tier bank (UBS/RBC/DB/WF), have been pinged directly by top EBs and given that VPs are less desirable for laterals - I'd say yes, you can easily lateral
Yes, used to work there and did it myself and have seen it many times, especially within the last year. Don't lateral twice, you can get to a top bank without doing that.
I ignored inbound recruiter pings for a while because I was too busy/not interested but once you answer them The ball gets rolling very easily. Also, Nomura is a step down. Not sure if that was in there by accident but there’s no point of going there. If I were you I wouldn’t bother with UBS/DB/etc either.
Very very feasible to go direct to GS etc from WF M&A. Don't waste your time/create questions about commitment by jumping twice.
That said if you're already a second year, you're going to get there having missed on cycle and even most of off-cycle, so your MF PE chances are pretty slim even from a top bank. Don't go to GS hoping Blackstone will come calling.
Yes, i did exactly that. From cap markets to M&A to boot
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