Recruiting as an IB Lateral

Do IB lateral hires with say 1-2 years of other experience have the same exit opportunities as someone who did 2 years of IB out of collage? 

I understand that post-MBA is a completely different story and buyside transition is much tougher. Talking about pre-MBA here

For ex: say someone works in DCM for two years then transfers to real estate investment banking. Will they have the same exit opportunities (RE private equity) ~2 years down the road as someone who starred in the group right after college? 

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