Can you lateral to a better bank/different coverage group and then recruit immediately for PE? I have deal experience from my prior bank, but the platform/prestige is not as strong as the firm I just lateralled to. Or do I have to wait a year before recruiting for PE?
Example is I was covering industrials at a low BB (i.e. Wells, DB). Just lateraled to a strong industrials group (GS, JPM). Can I recruit right away for PE?
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This was done in the UK by someone I know. There is also a wso podcast on this guy's journey. Maybe scroll down through their podcasts and you should easily find it.
He started at SocGen worked for two years, moved to JPM as a third year analyst and started recruiting right away and joined a US MF before he completed a full year at JPM.
So the answer is, by all means go for it. This is a high attrition industry and no one cares that you left in a year. You won't be the first person to do it and not the last person either.
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