3rd Year Analyst Lateral: Exits

Hey everyone.

I'm finishing up my second year in a mid-tier BB DCM group. For my third analyst year I'll be moving over to a strong coverage group. While I'm mainly thinking about A2A, I'm also interested in pursuing any off-cycle roles (preferably PE) that come up.

Can an Analyst 3 successfully recruit for PE, HF, or big tech/F500 corp dev roles? The biggest issue I foresee is that I'll only have 1 year in a classic IB coverage group vs the traditional 2 years before exiting.

Does anyone have experience with this?

Comments (14)

Jun 9, 2020 - 10:11am
yig, what's your opinion? Comment below:

Lateraled in as a second year and recruited for an immediate start HF position as a 3rd year. Think PE might be difficult given the importance of cycle, but HFs are generally less dictated by cycles and are more open.

Array
  • 1
  • Analyst 2 in IB - Gen
Jun 9, 2020 - 10:16am

Thanks for the data point on this. What was your background before your year in IB?

  • Analyst 1 in IB - Gen
Jun 10, 2020 - 5:34pm

Could you provide some light on how you lateraled for 2nd year? Incoming analyst at a Top Tier BB DCM and I desperately want to do coverage and not dcm (not lev fin group).

  • Analyst 2 in IB - Gen
Jun 10, 2020 - 5:10pm

Thanks for the help. I haven't recruitied ever before since I was in DCM so this would be my first cycle.

Do you happen to know how the timing of the move would work? Since I'd be an analyst 3 I'd presumably need to spend the following year as an Associate 1 if my PE contract doesn't start for 24 months like usual. Or would they allow me to start in 12 months given the circumstance?

Jun 10, 2020 - 2:55am
SpreadMyComps, what's your opinion? Comment below:

I recruited on-cycle, got an (IB) associate promote the next summer, then moved to PE (though still A1) a year later. It's doable, but more doors shut as you get older, and the risk you'll have to step back (as I did) increases.

  • Analyst 2 in IB - Gen
Jun 10, 2020 - 5:08pm

That's awesome. So you recruiting as an analyst 2 (or 3), got an offer to start as a PE associate in 24 months, and then spent your next IB year as an associate 1 before PE?

How was on-cycle recruiting? Were you valued differently because you weren't an analyst 1 recruiting in their first ever cycle? (note: although I'd be an an3 it would be my first time ever recruiting)

Most Helpful
Jun 10, 2020 - 8:08pm
SpreadMyComps, what's your opinion? Comment below:

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