Going from BB in NYC to MM in Second Tier City
Anyone have any experience going from a BB in NYC for analyst stint for two years then going to a MM in a second tier city as an associate promote? Is this common or would you have to come in as a 3rd year analyst? I enjoy banking but don't really like NYC and would rathe relocate to a smaller city. Any advice would be helpful.
Every firm is different, but at my MM firm we would never offer an associate position to a second year analyst from a BB. Realistically, a 2nd year analyst at a BB would have much less relevant transaction experience in the MM context vs. 2nd year analysts who started with the MM.
So if you wanted to hop over when would you recommend doing it? After first year? or try and come over as a 3rd year?
If you're sure that's what you want to do, I'd start looking after your first year. I've seen many people do 1 year at bank X, 1.5 years at bank Y, and then get promoted to associate. If you wait until after year 2 to move, you would likely after to do a full third year at the MM before getting promoted.
This is good advice, IMO. Transitioning to a new firm and expecting a promotion in less than a year is pretty challenging for anyone, regardless of industry.
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