Comments (13)

May 1, 2013

Depends on how urgent they are to fill the opening. If they lost an analyst in a group that's currently getting crushed expect to hear back pretty quickly. If the need is less pressing it may take a long time to hear back as they take their time to find the best candidate/wait to see whether deal flow calms down. Its also possible deal flow will slow down while they're recruiting and they'll just wait until the next formal graduate recruiting cycle rather than take a lateral.

Also assuming you're lateraling into a junior spot they already have a generic offer letter ready to go since your salary is fixed, so no.

May 1, 2013

I think they are hiring a number of people to deal with increased deal load. This is for an associate position, not analyst.

May 1, 2013

Not to completely hi-jack the post but where would I stand regarding a lateral transfer to a BB from a small PE shop after (2 years)? Would I have to begin as an analyst or would there be an opportunity to lateral to an associate position after 2-3 quality years in PE. I dont want to leave my job but am always interested in back-up plans. Thanks.

May 1, 2013

You've been in banking for two years and you've worked at two banks. Other potential employers won't view that favorably, as you've been jumping ship very frequently - "is this kid that desperate? Does he have a continuous skill set? Has he seen a deal through?" The last thing you want to do is come off as desperate. My advice is to continue your analyst program at your current bank (I'd assume you have one more year, no?) and then try to either move to something else prior to business school. If that's not an option, then go to business school. After that, you'd be better armed to approach a BB as an associate.

May 1, 2013

Completely disagree. Laterals from MM to BB can work 1 year at MM, 1 year at BB, and either chose to stay a third in BB or pursue PE, no problem. Lateralling is not hard, just time consuming and all about making the right contacts and being smart in your search (not dealing with shitty little search firms - BB's NEVER hire them, for example). Even in the current market there are plenty of lateral analyst positions open (at my bank, there are more positions open now than when the market was white hot 6 months ago). Good luck.

May 1, 2013

GameTheory, while I agree that you can do one year at an MM and then another at a BB, the OP says that he has worked for two years and has spent each one at a different bank. I think that to lateral again to another bank could potentially prove to be an issue.

And to the OP, GameTheory's comments about the proper search firms, contacts, etc, is certainly correct and something to factor into your search. The banks certainly continue hiring and there are positions available. Good luck.

May 1, 2013

Thank you very much for your advice. To shed more light on my situation. I have been with the 1st MM for almost 2 years. I decided to jump ship to a larger bank because I felt there was limited learning due to the group I was in. I have looked at 3 BBs (MS, ML, DB) but they did not have spots at that point. The opportunity at the 2nd MM was referred by a friend shortly after who highly recommended the place. After several months at the new MM, I realized their deals have shrunk in terms of size and the good people have been leaving. At this point, I really want to have good deal exposure (think lead managed deals and notable M&A transactions). I know I probably should have taken time to look at other BBs before, however the opportunity came out of the blue and I was desperate to leave my 1st firm. Is it too late now? Could anyone share info on which BBs are currently hiring laterals? If I can't lateral as an analyst at this point, do I really have to go down the MBA path to join a BB as associate?

May 1, 2013

Anyone?

May 1, 2013

Are you asking about recruiting out of school? Filling in a single open spot (off cycle)?

May 1, 2013

It's for filling in a single open spot (off cycle). Btw does this also mean lateral hiring? sorry my jargon in the IB career space is pretty weak

May 1, 2013
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