From certified user @Sil"
The bank may call you as you are heading out of the building, while others may take a month. The bank whose offer I finally accepted took a month from the superday to extend me an offer. So, do not sweat it if you do not hear back right away.
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I think a lot would depend on how badly they need to fill the spot
How do most find out about these laterals?
To be honest timing was late December early January. I'm in the middle of the lateralling interview process right now and after the resume screens, my first interview was early February. I'm in Tokyo and not the states, but from what I've heard the timelines for hiring is similar for both regions (for candidates planning to start around June). Also I'm assuming you're starting as a 1st year analyst after your successful lateral.
it definitely depends - i've seen the process finished in a week, and i've seen it drag out for months
I agree with Dublin...it can vary greatly. The best way to find out about opportunities is through headhunters...most firms (elite boutiques, BBs) go to them when an analyst jumps mid-contract to a HF/PE shop...online drops/HR won't get you anywhere. The only other way is through networking if you know someone in the group where a kid is leaving, you might be able to quickly get an interview.
Re: timing, most laterals happen after six months (so Dec./Jan.) and then again with interviewing in May/June to start as a first year analyst after the successful lateral...that being said, you can also lateral as a second year...you're just signing up for two more years in banking. But your comp should be higher than the first years (minus the bonus you're losing out on in lateraling) since you won't wait until August.
Word of mouth is a very powerful thing among analysts.
thanks dublin and sryforbanking, that makes sense
need to start reaching out to headhunters
General acceptable timeline to lateral- 1st year (Originally Posted: 09/26/2014)
Currently at a BB Capital Markets Group. I am looking to transfer into a more traditional IBD group as soon as I can....how long do I generally have to wait before I can make the lateral move?
Yes, I know it depends on the situation, the contacts you have, opportunities that are available at the time, etc.
I've seen people move after one year.
Any laterals under 1 year?
Shortest I've seen was ~3 months in, but most wait closer to a year simply because that's when spots start opening up
Lateral Interview Timeline (Originally Posted: 02/22/2012)
Just curious what you guys think about this process. I was contacted by a recruiter for a senior analyst position at a generalist m&a boutique in my area. So far I've been through four different phases of the interview process. 1) HR phone screen 2) 45 minute phone interview with an associate 3) lunch with two of their VPs 4) Four hour on-site interview w/ nearly everyone on the totem pole.
I interviewed at their offices about two weeks ago. Last Friday I received a call from one of their MDs asking if I would be available for lunch with himself and another MD. I can only assume that this means good things right?? I don't see why they would take two hours out of their days to continue to rehash previous interview questions.
There are a ton of good people out there right now. My guess is that it's down to you and 1 or 2 other guys for the position and now it's up to the MDs to make the final selection. Small firms tend to be picky, since they have less margin for error in hiring.
Yeah, that what I was thinking as well. The whole process just seems silly. I talked to both MDs for probably 45 minutes each so they've already heard my story, resume, golf handicap, etc... I've already given them my sales pitch, but I am certainly willing to do it again.
Thanks
Could be offering you the job......? Just sayin'
Could be an offer, maybe they want to probe you on what kind of money you want.
Whatever happens just never let yourself look exasperated. Stay perky and confident but not desperate. Little shops are quirky and disorganized.
Opportune time for lateral hire? (Originally Posted: 11/13/2006)
Hi can anyone provide comments on the best time or the time that banks do most of their lateral hire at the analyst / associate level? I assume it's right after bonus? Thanks in advance for your comments.
^^
interesting. any ideas on when to start the process?
When to apply? - Best time to apply for 1st and 2nd year analysts? (Originally Posted: 04/14/2009)
Question to those you have done it or know someone who has, when would be the best time for someone to apply for 1st and 2nd year analyst positions during offcycle (nonofficial) recruiting? let's say your a currently a 1st year (not at IB but at a company that does valuations) and would like to joing MM or BB firm as a first year, let's say next summer (so by then u'll already have 2 years of valuations experience), when is the best time to apply and what is the best way to apply (websites, headhunters or something else)? feedback is much appreciated thanks
good question, I'm also interested in this
Im also very interested in knowing this information.
Best time of Year to Lateral? (Originally Posted: 11/07/2006)
I work for a boutique in LA and want to move to SF for personal reasons. Whats the best time of year to bust a lateral transfer and whats the best way of approaching it?
I would guess after bonuses are given out and people start jumping ship/quitting.
Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
Ya probably after bonus firms know they'll have people leaving so they're prepared to hire as well. But since you would be an experience hire you can really apply anytime there's an opening or position posting. Every opportunity counts.
when is a bonus given out? is it different for each of the BB firms?
June / July for analysts
Advice needed: when to consider a lateral (Originally Posted: 12/17/2011)
Hi guys:
I've been working in IB for a year (end of this month) not NYC. Thus far it has been a great place to work with strong deal flow as I am the only analyst. For most, this situation is ideal given the current job climate etc. However for almost as long as I can recall I've wanted to be in NYC, even before I knew what IB was. Reason for my current geo location is I did not attend a target so getting in the door in the first place was rough. But I managed to do it.
While my network is not extensive per say, I do have more than a few contacts at the MD level in S&T and ER at MM firms in the city who will field my call, not looking to work at a BB. Also, not looking to get into S&T or ER, would be hoping they could connect me to a contact at their level in IB. I was wondering if any of you have any advice for me as to when it is best to consider a move from a timeline standpoint etc. And perhaps advice on how to go about doing this. Thanks a lot.
Not saying I can read emotions dude, but if your miserable why does time matter?----I would make the call this week. .... since you said your the only analyst I am assuming your at a boutique shop which is not bad just makes it a bit more difficult. I would basically use the same approach you went with in landing your current role seems as if it worked nicely for you the first time around, if it ain't broke don't fix it.
I agree, you should start networking immediately if NY is really where you want to transfer to. Use your current contacts in ER/ST to introduce you to IB people who will help you out further.
When is the appropriate time to look for lateral opportunities? (Originally Posted: 09/01/2013)
If you see my previous thread for my background and current situation you will know I hate my group and why.
I've been at a BB for 3 months so far and am 100% set on lateraling. I have a good undergrad resume (UPenn/3.8/internships etc) and would ideally like to move to a smaller place like Lazard, BX, EVR but would still be interested in other BB's.
So anyway, when is an appropriate time to start reaching out and interviewing. I feel as though other banks might think I'm the biggest asshole for trying to lateral after 3 months on the job. Should I wait 6 months, a year, or just start now?
Thanks
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