Hi all,
long-time lurker here. I will be interning at a low-tier BB this summer (DB/UBS/BarCap) and am wondering if anyone who has had any experience lateraling to a high tier BB (GS/JPM) could offer any tips or advice for that process. Is it common at all? How should I be going about the process? Thanks for the help!
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Very common in the states. Reach out early because some offices do phone screens before the end of your summer internship. Process is similar to recruitments for SA but just much more accelerated and less structured.
Why do you want to lateral already? I recommend giving yours a shot first, you might love the people you work there and have a better experience.
Keep in mind that almost every single IB SA wants what you want for FT. As a result, you need to be proactive to get an interview and really need to stand out over all of the other kids especially those that might be at an EB like Evercore for SA and want to move to GS/MS.
Based on what I've seen, almost impossible...you'll have much better luck at EBs like Moelis/Evercore/PJT/Laz/CVP, where 1-5 spots usually open up. GS/MS might have a couple spots open up, but it'll be later in the fall and dependent on whether kids left.
For someone who will be at a MM this summer, what is the best way for a target school guy to approach building the connections to get a full-time offer? The difficulty for me is that on-campus recruiting is in February here, and for me it seems ridiculous to ask about employment a year and a half from now, before having done my upcoming SA stint. Is it better to target EB's or BB's?
Moving from low-tier SA (UBS) to Top BB/Elite Boutique FT? (Originally Posted: 05/07/2013)
Is it possible? Is it probable? How common is it to "upgrade" banks?
I've been networking a bit but have no idea if it will work out. I've also been networking internally to ensure I get a decent group but I'd much rather move to a solid bank where I have much better PE exit opps, a more stable outlook, and frankly, a decent bonus.
I'm good at interviewing (4/6 offers), but entered very late into the game and so I barely got any good interviews. I'm at a non-ivy target: Georgetown/Stern/Haas.
I cannot go through FT OCR because if I do get an offer, it will be an exploding offer (non-OCR). So I have to do accelerated recruiting.
Yeah, if you get a FT offer from UBS its very possible if not fairly easy to "upgrade" to BOA/CS/DB/Wells/Citi etc. Much less likely but still possible if you network well, kill the interviews, and get a bit lucky to land at JPM/MS/GS. Start networking in late June/Early July. The interviews happen in mid-late August and as late as the end of September.
Why on earth if you are at UBS should you go to Wells Fargo?
yes its possible. i know people that went from a lower tier BB to Moelis/MS/GS all in the end of August by simply cold calling the HR of that office and explaining their exploding offer situation. doesnt hurt to network too along the way...
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