There aren't many topics here on lateraling. Any advice anyone can offer on the general process? Will the bank to which I'm moving pay for my housing until I find an apartment? Is there any kind of signing bonus? How do I leave my current job professionally? I really like the people I work with but this is just a better op with a better bank.
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Ok. Some general advice:
Never mention to your current employer that you're interviewing. You never know where that will lead you, but it will be a sign to your current employer that you don't want to be there. You will be surprised, but many MD-level people are delusional and think that your experience at whatever bank you're in (say, MM) is actually better than BBs. Don't know if these are the people you work for currently, but MMs and boutiques and even LBBs are full of them.
There is nothing wrong with asking about signing bonuses (or bonus buy-outs, if you're in the middle of your year) in the interview process - just not in the first interview, of course. If you befriend one of the junior bankers at the interviewing firm (usually the guys responsible to set up interviews, etc.) and feel comfortable, you can ask them directly. I wouldn't want to ask the MD these questions, though, unless the MD is unusually closely involved with the process or knows you really well.
To answer your question, most (decent) banks will give you a signing / relocation bonus. A friend of mine lateraled to a MBB (middle-bulge), and got $15K. But didn't get any partial end-of-year bonus buyout, though.
Also don't go too much in detail about why you're leaving. Just "it's a better op for me right now" will suffice. Don't tell them about the endless barrage of shitty nonsensical pitch-books you had to do, or how you hate the industry you cover, etc. It's tempting, believe me, but can work against you in the future as you can still run into your coworkers from another (buy-side?) side of the fin world.
Hope this helps.
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