Are people getting any lateral inbounds?
Stepped out of PE at year 2 to do some solo work last year. I had a healthy number of inbounds from recruiters for months but recently it’s been totally dry. My recent follow ups were also totally ignored. o know the macro hiring market is not good, but just curious about folks realities on the ground.
The current lateral hiring market appears to be challenging, with limited opportunities and reduced recruiter activity. Based on the most helpful WSO content, here are some key insights:
Recruiter Activity: Headhunters currently have an abundance of candidates but not enough roles to fill. This has led to a significant slowdown in inbounds from recruiters, as noted by others experiencing similar situations.
Networking is Key: In this environment, relying solely on recruiters may not be effective. Networking aggressively and leveraging warm introductions is critical. As one user suggested, being upfront about your experience and willingness to adapt (e.g., taking on a third-year analyst role) can help open doors.
Timing Matters: Lateral recruiting tends to be more active in Q1 and Q2 of the year. Banks often avoid lateral hires in the latter half of the year due to compensation expectations and budget constraints.
Macro Environment: The broader economic conditions and hiring freezes in many firms have further tightened the lateral market. Some groups are holding off on hiring until there’s more clarity on deal flow and economic stability.
If you're not seeing traction, consider expanding your search geographically, revisiting past connections, and staying persistent with follow-ups. The market is tough, but opportunities may arise as conditions improve.
Sources: Global macro recruiting - a primer, Lateral Hiring Freezes, Guide to Lateraling in 2021, For those who aren't receiving FT MBB interviews..., https://www.wallstreetoasis.com/forum/investment-banking/laid-off-in-may-at-my-wits-end?customgpt=1
what do you mean by solo work?
independent consulting. I got lucky with inbounds from connections.
dont have anything significant to add or share. Also looking for PE jobs and things are dry.
What kind of PE fund were you at?
Thanks for sharing. LMM-MM hybrid strategy.
I got a response recently from one of the bigger recruiters and they said no active mandates for my profile. Of course could just be me, but that's a data point!
Could it be that since you're off the typical track for awhile now, funds are less interested in hiring you? Not hating by any means, just pointing out that this is a super risk averse industry and it shows in how they hire at times.
Yeah totally, that’s mainly the reason I posted about it. Hoping that’s not the case!
I was in your shoes not too long ago. HHs love you when you're a cookie cutter candidate, and will completely ghost your when you're "off track" or just doing your own thing, only to come back and ping you constantly when you're back in the industry.
In short - yes I'm still seeing lateral opportunities and I was completely ignored prior to that.
Right now your game is to network aggressively with your target ~20 firms because at least one of them is hiring or will hire imminently. Also ping your old IB analyst buddies / friends and get them to forward leads to you.
Most these recruiters using screening tools that are basically linkedin filters, which is why after you pass certain "milestones" (e.g. 12/18/24 months at a role), you'll all of a sudden have every recruiter on earth reach out to you. Decent chance that you passed some arbitrary threshold which filters you out and that's why you are no longer seeing these opps. Try to network with a few good recruiters and treat the intro call like an interview with a super compelling story so they show you good opps
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