Lateralling from a mid-market to a BB / EB

Hi,

How likely is it / what are the key obstacles to overcome when attempting to lateral from a good mid-market (think Lincoln International, William Blair etc.) to a BB / EB*? If anyone could provide advice on their own stories / what the best approach is for this kind of jump, it would be greatly appreciated.

*Jumping from Analyst 1/2 to an Analyst role at a BB / EB (don't mind taking a pay cut if the jump is worth it in the long-run).

Comments (14)

Feb 21, 2020

In Europe you have a decent chance, especially after about 3y of work experience - most BB/EB have high churn at associate level.

    • 1
Feb 22, 2020

Thanks Rover appreciate the info

Feb 22, 2020

Even earlier ngl, plenty of firms would hire you after ~1 year

    • 1
Feb 22, 2020

I know someone who made a similar move but they were forced back one year. I don't think he negotiated it that well it keep in mind that can happen too.

    • 1
Feb 22, 2020

Thank you premia

  • Analyst 1 in IB - Gen
Feb 22, 2020

I lateraled from a LMM bank to a BB this past year after working at the former for a little over 1 year. My best piece of advice would be to use all resources available to you through your network. Every interview I had gotten during the process came from someone in my network or a one off. you really just have to our hustle other people that aren't willing to put in the extra effort

    • 1
Feb 27, 2020

Could you provide more advice on when to apply/ how to keep contacts warm, interviews experience? Thanks!

Feb 28, 2020

I think what has been standard practice on this Board is staying at your current gig for 6-8 months before looking but I knew I was ready to move after around month 4. If you can get the bank you're lateraling to to match the bonus then that's all that really matters. In my experience people really don't care how long nig you stay at your first gig and if you're looking to leave then might as well go as soon as possible

how long you stay*

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  • Analyst 2 in IB - Gen
Feb 27, 2020

Did you have to step back one year?

Feb 28, 2020

I didn't. Everyone that I have known to make the jump came on at the same level so I'm not sure what banks might make you go back a year. With that being said, the learning curve from was substantial. Obviously the bigger a transaction gets, the greater the complexity, need for financing, etc.

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Feb 22, 2020

Thanks mate appreciate it

Feb 28, 2020

Did it in <6 mos from a lower tier mm to top tier eb based off skill set and probably some luck. Pm with questions

    • 2
Most Helpful
Feb 29, 2020

Remember that banking is banking and that the core fundamentals of the role doesn't really change from a place like Blair or Baird to an EB or Bulge. You need to make sure you're grounded in all banking processes and technicals but other than that, there isn't a big reason you should have to take a step back. Unless you're from a boutique which didn't offer a ton of M&A experience / modeling exp, you should definitely fight for a continuation of your role. If not, and you'll have to recognize this for yourself, offer up a step back and see it as a long term learning / exit opp experience. However, given the firms you mentioned, you'll likely be fine in terms of lateraling at your level but I want to stress, highly dependent on where you are lateraling to

    • 3
Feb 29, 2020
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