how to lateral gracefully?

hi all, 

i'm 5 months into my first year analyst stint at an 'elite boutique' and it's looking like i'll be lateraling over to a bb. i've actually enjoyed my time at my current bank, and i'm only moving because of the prestige (i know this is not the best reason). what's the best way for me to leave without being a do*che about it. thanks 

Comments (7)

Most Helpful
  • Analyst 1 in IB-M&A
Nov 27, 2021 - 7:20pm

You're def gonna burn some bridges, so your approach needs to involve how you can burn the least amount of bridges / not piss people off. 

1) Do not tell anyone at your current bank about where you are going / reasons why you are leaving. Your team will ask you when you announce your 2 weeks but you always should give a general reason like "it aligned with my personal interests/best decision for me going forward"

2) If you can, you should be proactive in getting the analysts up to speed who will be taking over your deals. Idk if you'll be able to know who will, but when 2nd years leave, the nice ones will help the analysts get up to speed on wherever they are in the deal process. 

3) NEVER talk shit about any ex-banker you worked with/your previous bank. Seems like common sense, but you'll be surprised at what some jackasses in this industry do when they leave their bank. 

  • Analyst 1 in PE - LBOs
Nov 27, 2021 - 9:23pm

Am I the only one who finds suggestion 1 a bit weird?

It seems unnecessarily hostile, and it implies that either 1.) you're sparing the person the pain because you think it will make them upset or 2.) you think they care enough/have nothing better to do than to try to harm your reputation at the new bank. Odds are they will find out when they see it on Linkedin anyways.

I get it for reneging, especially if the other bank doesn't know that they're reneging, but seems unnecessary (and even off-putting) when it's just a lateral.

  • Analyst 1 in IB-M&A
Nov 27, 2021 - 9:24pm

Have you been applying to postings for "experienced analyst" that want 1 year+ experience? In the same boat looking to lateral but have tried to avoid these experienced analyst postings

  • Analyst 1 in IB - Gen
Nov 27, 2021 - 10:10pm

not really - when i see an opening, i reach out to someone i know at the bank (alumni). i believe that getting some internal push helps from not getting dinged due to the 'experience'

tbh i've only applied to two positions so i'm not sure how legit my take is. 

  • Analyst 1 in IB - Gen
Nov 28, 2021 - 10:54pm

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