LMM/MM SA -> UMM/EB/BB FT?

Hi monkeys. I accepted an offer at a LMM/MM for SA 2022 and am looking to make a move asap. I understand that conventionally, I would do the SA gig, get the return offer, work for ~1 year, and then lateral. But if I'm aiming to move to a different bank (UMM, EB, BB) for FT, then how early should I start networking? As early as SA 2023 would? Also, if I were to start networking for a different FT bank before I even started my SA, would this be looked down upon? And if I do so, is it okay for me to put incoming IB summer analyst @ LMM/MM on my resume to make me at least somewhat more competitive among FT candidates at the better shops? In any case, if I do try to make this kind of move, I would have to have the UMM/EB/BB offer in hand before I need to make a decision on a potential return offer from LMM/MM, correct? Or is reneging from LMM/MM for UMM/EB/BB not that big of a deal? Would really appreciate any insight into these questions. Thank you very much.

P.S. Found this website about half a year ago, and it has been a tremendously helpful resource to me as a junior in college. Hence, thought I would reach out to the community for advice in regard to a specific situation I find myself in. Thanks again. 

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Comments (2)

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  • Intern in IB - Gen
Sep 12, 2021 - 4:59pm

I saw someone accept an offer from a top EB coming from a MM/LMM on LinkedIn just this past week. I would think that, for example, Stifel SA - JEFF FT would be a very doable transition if you'd be willing to forego the return offer due to Jeff's late schedule.
Otherwise JPM & Goldman recruit much earlier in the summer, so depending on how you present yourself/the group, it should be a relatively simple transition. If you're moving from Cowen CnR to JPM CnR there's actually a clear story there too: "I realized I liked this [coverage/product], but also that I wanted to be involved in some of the industry-leading deals that I've seen your group work on such as the...."

Bottom line: not easy, but certainly not out of the realm of possibility at all.

  • Prospect in IB-M&A
Sep 12, 2021 - 9:22pm

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