Which BB/EB groups don’t do lateral analyst hiring?

Ah, the quest for the lateral move – a journey filled with strategy, networking, and a bit of luck. Based on the most helpful WSO content, it's important to note that lateral hiring practices can vary significantly across different banks and even within different groups at the same bank. However, there are a few insights that might help guide your strategy:

1. Openings Depend on Need: Lateral hiring, especially at the analyst level, is often driven by need. If a group is under-resourced or has experienced unexpected turnover, they might be more open to lateral hires. This can vary year by year and even month by month.

2. Execution Experience is Key: From the insights shared by a VP at an EB, it's clear that execution experience is highly valued. Groups that are execution-heavy might be more open to lateral hires if they believe the candidate can hit the ground running. This suggests that M&A groups, which are execution-focused, might occasionally look for lateral hires to bolster their ranks.

3. Strategic and Critical Thinking: The same VP highlighted the importance of strategic and critical thinking. While execution skills can get you in the door, the ability to think strategically can set you apart. This might imply that groups with a strategic advisory focus could be more selective in their lateral hiring, looking for candidates who not only have solid execution experience but also demonstrate strong analytical and strategic skills.

4. Cultural Fit and Network: An often-overlooked aspect of lateral hiring is the cultural fit and internal network. Groups that pride themselves on a tight-knit culture might be more open to candidates who come recommended by current employees or alumni. This underscores the importance of networking, not just to find out about openings but also to build relationships that can vouch for your fit within the group.

5. Varied Practices: It's also worth noting that practices can vary widely between BBs and EBs. Elite Boutiques, given their smaller size and often more specialized focus, might have different needs and practices when it comes to lateral hiring compared to the larger Bulge Bracket banks.

In summary, while there's no one-size-fits-all answer, focusing on groups known for heavy execution work, demonstrating strong strategic thinking, and leveraging your network for introductions and insights can be a good strategy. Remember, the landscape of lateral hiring is always changing, so staying informed and connected is key. Keep those networking efforts strategic, and don't hesitate to reach out broadly – you never know which group might be looking for someone exactly like you at exactly the right time.

Sources: Why would any associate+ banker choose a BB over EB?, Q&A - From Non-Target to VP at EB, Currently a 1st year analyst at a BB - how do I lateral to an EB?, 2023 Recruitment Official IB Rankings (Post-CS), Lateral from MM to EB/BB