Hey y’all,
I’m currently heading to a BB to work as a a supporter of their investment bank in the middle office. Basically I’ve been told it’s possible to break into IB from the team I’m on and it’s happened a couple times before; however, looking at the economy as it stands right now, I think it’s a terrible time to try to lateral. This is looking a year or two ahead of course (and no one has a crystal ball) but do we think lateral hiring is going to be better by then? Thanks.
As you say, nobody has a crystal ball. Hiring decisions depend on deal pipeline / forecast dealflow.
But things actually might look up in a year or two. There's a bit of a tendency to over-react to short term news, and while markets have sold off a lot in the past month or so, there are a couple of fundamental drivers of dealflow which still exist (record levels of private equity dry powder, countless portfolio companies which really should have been sold by now, moderating interest rates, IPO backlogs, etc.)
If that all plays out, then the lateralling market should begin to pick up (of course, with a lag, as there is a lot of junior talent on the market which needs to unwind so it might be a little longer before someone in your position is well-placed to lateral)
That makes a lot of sense, thanks for the input!!
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