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At least at my BB, most people who lateraled from MM had to start as Analyst 1 anyway. If you have to choose between associate promote vs. staying at MM, I'd stay at MM unless you're at a group with worse deal flow or have the opportunity to join top BB group
Most BBs will not let you do A2A as a lateral, even coming from another BB/EB... you should plan on 3 years as an analyst if you lateral in your second year. Which actually works out fine because you can do oncycle with no issues.
3 companies in 3 years isn't amazing but presumably, you'll be at your PE job for 2-3 years or more. Also it's a little better when you had a clear path to landing PE, it's less advisable when people are jumping around between very similar companies.
This is unfortunately all a bit hypothetical as I'd expect close to zero lateral spots opening up this summer/fall... banks are hoping for natural attrition, not backfilling leavers, and there are a lot of recently laid-off BB analysts in the market right now. I would still be taking HH calls and looking at any interesting PE opportunities from your current bank.
Bump. I'm interested in thoughts on this as well, and specifically on my situation (same thing but one year ahead). I lateraled from MM IB to BB at start of 2022 and am wrapping up year 2 as an analyst in IB. I'm interested in PE but held off on recruiting to get more deal reps and see if I actually liked banking since I saw a glimmer of hope. That hope has since faded. Should I go for buyside opportunities now / attempt for off-cycle or do something else?
Going to answer your question slightly differently - I think recruiting from your current MM IB into MM PE and then lateraling from there to whatever PE job you were looking for in BB/ EB (I assume MF / UMM) might be better than lateraling to BB / EB now
Interesting. Is it easier to go upstream within PE than BB to UMM? Why is it better?
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