NEED ADVICE please
I have been networking internally with a group I want to lateral to over the last few months. Bonuses have just been paid and I’ve heard through the grapevine there will be some attrition in the group in the coming weeks. What do I do now? I’m at a loss as to what my next immediate steps should.
My MD does not know I’ve been networking (at least I haven’t told him yet, he may know)
Edit to add: all the team members I networked with told me to wait til bonuses as that’s when attrition occurs
Bump. Pls don’t subject me to the bot
Ah, the classic post-bonus shuffle! It's like the Wall Street version of musical chairs, isn't it? Here's how you can play it smart based on the most helpful WSO content:
Keep Networking, But Subtly: Since you've already laid the groundwork by networking within the group, continue to maintain those relationships. However, be subtle about it. You don't want to come off as too eager or desperate. A casual check-in here and there to show your continued interest and to keep abreast of any developments can be beneficial.
Prepare Your Pitch: Based on the advice from the WSO Academy, now is the time to refine your pitch. Why are you the perfect candidate for this group? How can your skills and experiences benefit them, especially with the expected attrition? Have this ready for when an opportunity presents itself.
Update Your Resume and LinkedIn: Make sure your resume and LinkedIn profile are up-to-date with your most recent accomplishments. Highlight any skills or experiences that make you a great fit for the group you're targeting. This is crucial because if there's attrition, they might start looking for internal candidates or referrals quickly.
Consider Informing Your MD: This is a delicate situation. Based on insights from WSO threads, the timing of this conversation depends on your relationship with your MD and the culture of your firm. If you believe your MD would be supportive and could potentially advocate for you, it might be worth having a conversation. However, if you're unsure of their reaction, it might be prudent to wait until you have a more concrete opportunity within the other group.
Be Ready for Opportunities: Attrition often happens quickly, and positions can open up and be filled in no time. Ensure you're ready to express your interest formally as soon as you hear of an opening. This means having your resume ready, your pitch polished, and, if possible, a recommendation from someone within the group.
Monitor the Situation: Keep an ear to the ground for any news about openings in the group. Since you've been networking, you might hear about these opportunities before they're publicly announced. Use this to your advantage.
Remember, timing is everything. You've done the groundwork by networking; now it's about being patient and ready to strike when the opportunity arises. Good luck, and may the post-bonus season be ever in your favor!
Sources: 10 Friendly Reminders While Networking for SA Programs (from a BB Analyst Perspective), The First 3 Things You Should Do if You’re Part of The Layoffs, BB Analyst Impacted By Layoffs - Looking for Insight, Stuck at Current Firm, SA 2023 Group Dilemma
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