Latteral Moves
How common is it for a first year to leave and become a second year somewhere else or even a first year somewhere else? What is the bets time to start contacting companies with this in mind. If someone knows of someone who has done this elaborate please.
Can anyone answer this? I hit my first year in January, because I graduated early. I am expecting a bonus of between 65-75k and I just want to do this work for another company. I rather work the same and make 30k less. I dislike the people, though they don't know it. I act happy and work my ass off and I feel bad that no one expects me to leave. I am going to give location as my reason for leaving to my bank and say personal fit to the new bank. Anyway, are these moves common, when do I contact recruiters or head hunters, I don't mind being a first year analyst again. who do I call and what can I do....basically HELP
If you are a baller, have the right kind of stuff on your resume, interview well, dress for success, then yes you can. Deal experience, walking and talking excel are key. We take some lateral hires every year (it saves tons on training you guys). If you don't want to go true BB (GS MS JP) then its even easier. Lateraling just a little bit upwards is very acceptable on the street for second year analysts. However with your odd hiring date you may still count as a first year analyst for awhile when you move over.
Contact the headhunters as soon as possible, keep them up to date with changes on your resume and there are plenty of firms looking to hire.
Not sure if I am a baller, but here goes. Graduated with high distinction from a top 30 LAC with a 3.8 in finance. Worked at 2 good non IB internships but I did very well. I want to leave August 2008 so I can be seen as a second year under every light. By then I plan to have 2-3 billion dollar of deals with 1 industry. Mostly MA and mostly sell side, a few buyside, 1-2 IPO and very little debt raising. I have been on pitches with a intricate part on 2-3 deals we got. I just dislike where I live and my team and company, so I want to move to Boston. Does that help evaluate my chances?
also I don't want BB even if offered....i turned 2 BB offers for a first year job as is
anyone
I have nothing of value to add. Just curious how you know you will fit in at a new company? Always that risk, right?
No great point. I have worked three other places. Yes, they were Summer positions but man the fit in the office was great and the people were awesome. However, as all of you know, the people I interviewed with, which made me join the company, are not the ones I work with. That said, the people I work with are miserable, they have the finite end of the program in their vision with no personal interaction. They help but it is a very cold atmosphere and to be frank, it blows. I would take a cut of 30K to be in a happier environment with people who want to succeed and not pad their resume. So I want a small or boutique bank. I just do not want to contact banks only 5 months in and have them be like wow this kid wants to know about next July? Or have them think that I wont last anywhere, that I will be a job hopper even though I am only 23.
bump
anyone care to weigh in?
PE firms and some HFs will do longer term (end of program or next hiring season). However, almost all banks only accept immediate hire lateral positions. In fact, if your current firm knew you were leaving before the end of a program to goto another bank they would likely fire you and give you about 15 minutes to leave the building. So, you either have to move now (and actually have a good experience early on) or wait to even look until the very end of your program is in sight.
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