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?
following
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.
Thanks for the data point on this. What was your background before your year in IB?
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).
Following / Bump
Bumpp
Definitely can - have seen it done with people going to quality firms
Not sure if you have recruited in the past - if you've already gone through a cycle (or 2) and been rejected that is going to make it hard to still get looks.
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?
Bump
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.
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)
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