Why do laterals hires take so long?
Like the title says. Why do laterals take so long? There are no superdays…just interviews spanning a month. Anybody know why?
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Depending on the country but many have notice periods of c. 2-3 months
On-cycle summer analyst recruiting allows banks to give candidates test runs before deciding to give them an offer. They have a sense for how the interns will perform as full time analysts and so can be much more confident in extending offers. Lateral hires are black boxes - besides their resume, you don't have any experience working with them, and are bringing them in full time for the "long term". So banks want to make sure they pick the right people. It's an attempt at risk mitigation, which is why you have so many interviews and meet so many people.
Good point. Especially as a experienced associate/VP the process takes even longer as you're simply a pure transaction manager.
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