Hey all, I am a long shot that recently broke in at a very small regional boutique (extremely low GPA, non-target, late interest in finance - hustled and networked my ass off to get a gig). Although I am extremely grateful to have made it this far and I enjoy the work, I am not completely sold on my future at my boutique for a variety of reasons which I can get into if necessary. Now, I am looking to lateral to a much larger firm, however, a lateral from my firm seems extremely unlikely. Recently, I've been looking into getting an MSF from a school like Vanderbilt or Villanova with hopes of
13 May 2018
I currently work at a middle market bank in industry coverage in NYC. I just received a lateral offer from a larger bank. I'm likely going to accept but recognize that things have probably been relatively easy on me here (80 - 90 hour weeks). I'm just wondering how big the difference in culture will actually be. If anyone has made a similar move or can offer some insight I'd greatly appreciate it. Understand this is largely group dependent as well. Thanks
05 Apr 2013
Long story, short: I went to a state flagship on the GI Bill, and due to a major change as a sophomore, I ran out of GI Bill and had to choose between taking out more loans and spending an additional year finishing my finance degree or finishing my information systems degree on time, and before my GI Bill ran out. I finished my Information Systems degree in December, and now work at a Fortune 50 as an IT manager for the team that supports the C-suite. I hate my job and want to switch to banking. Slightly longer story: In my current role, I manage 2 direct report technicians, and 3 contractors
22 Mar 2018
Background: 1.5 yrs in ABL at a BB covering a variety of industries: manufacturing, distribution, materials, consumer products, etc. mainly with sub-investment grade/distressed companies. Non-target; sub 3.7 GPA. Any advice on how to position this experience to lateral into a 1st year IB analyst role? Is another BB/EB possible or is MM more likely? My current responsibilities include: - Underwriting various transactions (proposed M&A's, restructures, divestitures, etc.) by evaluating different credit metrics (leverage, FCCR, debt capacity). Modeling is not terribly advanced (mainly cash-flow
28 Feb 2018
Long story short, I've been at a MM IB for a little over a year now. Haven't really learned much since the work has not been technical at all. Is it worth it to lateral if you have to take a year back and start as a first year again?
05 Oct 2014
Hi, This form has been a great resource over the years and I am thankful for everyone who constantly posts to help other people. I am an associate at a Canadian big 5 bank looking to lateral to a US bank (either EB, MM or BB). I have one year of experience and decent deal flow. I was hoping people could provide me with some information as to how to make the transition. Specifically, if anyone has gone from a Canadian bank to NYC I would love to hear how you did it and any general advice you may have. Some questions I have: *Are the Canadian Big 5 banks looked down upon in NYC at the EB, MM and
10 May 2018
Hi all, Want to keep this short: interviewed with a BB 5 months ago. did 12 interviews (2 people per interview, met the whole team). And then got the news I would receive an offer, but at the last check with HR the headcount was cancelled. Was told that when new headcount would be available i'd get an offer, but it has been 5 months. Have had some contact since then and the news was unfortunately negative regarding the headcount. This really would be the ideal bank/team/opportunity for me so would love to hear anyone who has had similar experiences, as I am about to receive another offer which
14 Dec 2019
What do you monkeys think? Where is Guggenheim going? In terms of AM as well as the growing IB division. They recently poached over head of DB Healthcare ECM to help lead a $2.6B IPO as they are now officially full service with capital markets services in February. They do S&T and ER as well, and also brought over Miller Buckfire veterans to head the restructuring arm. The M&A advisory side expertise speaks for itself. Not to mention they are being led by Scott Minerd and Schwartz, and Schwartz said he wont stop until they become the next Bear Sterns.
27 Feb 2013
Hey team, I've been hanging out in the background of this site for a couple years now, and thought it was time to reach out and see what advice I could get from the collective wisdom of the group. First, a little about me: Graduated from a top 20 school in May 2012 with a >3.8 GPA with a major in Finance, and I am currently working at a solid middle market investment bank (Baird, Piper, Harris Williams, William Blair) doing mostly sell-side M&A in Boston. I've touched several live deals / am the only analyst on a deal I built the book for (currently drafting the CIM).
18 Mar 2013
Hello Monkeys! This is my first post on WSO so bare with me if I make any rookie mistakes! I wanted to get people's perspective / advice on moving laterally to a BB firm, specifically in Financial Sponsor coverage, from my current gig at a large international bank. My worry is that the higher up I progress (currently an Associate, but up for VP soon), the harder it will be to make the move. I have good experience (detailed below) and have a lot of friends moving into VP roles at top MM and BB PE firms and would like to be a career sponsor banker now that I've been around the block (again, see
18 Jun 2015
Hey guys. I am a first-year analyst in Corporate Banking at a very large institution. I am eternally frustrated with those around me, particularly the analysts, who at the stroke of 6pm will drop everything they are doing to go home. This happens everyday, regardless of what needs to be done - or its relative importance. I have too much ambition to stay in this group for long; the way they operate makes me despise them. I can't stop thinking about how much wasted potential exists in this group. I want to get out. I am in a specialized group that caters to the healthcare vertical, and have less than 2months experience. I have previous internships in PE and restructuring.
07 Jul 2011
Hi all - first of all, I would like to thank the WSO community for being a helpful resource during my recruiting process for investment banking. With WSO's help, I have been fortunate enough to secure a FT offer from a BB in Asia. Recently, I have been thinking a lot about my short-term career plans and would love to get WSO's inputs.
24 Feb 2015
Hi-- I'm an analyst soon to graduate from a BO/ MO/quasi FO rotational program from a top BB that emphasizes experience cross-LOB (IB, AM, etc). I've worked hard, impressed my teams, and chosen my rotations strategically in such a way that when I realized I wanted to move to FO 6 months ago, I did it pretty easily having been given an offer to join this BB's IBD program, which I'm extremely excited about. It seems I've been selected because of my experience in the IB prior on desks with product knowledge closely related to what I'd need to have for this role, as well as having more experience with deck compilations and working with clients than the other candidates.
23 Jun 2011
Title is pretty self explanatory but a bit more of context: I'll be doing my IBD SA at Barclays in London this summer. Question is: is it worth it to try to lateral FT to American BB's that are more prestigious (like MS/GS/JP or even Citi or BAML)? I do want to pursue Masters or MBA at a good university (HBS, Stanford, Sloan etc) some time in the future, and I've heard that having a good name on the resume can really help your chances (I'm a junior at a target uni and have ~3.9 GPA as of now, if this at all relevant). Would it worth it to try to network with these American banks to get FT
16 Feb 2019
What is the best way to apply to a lateral posting if you don't know anyone internally who can refer you or forward your resume along? Assuming I have good, relevant experience, should I be reaching out and cold emailing people in the group that I'm applying for?
01 Feb 2015
Hey everyone, I have a question on BB lateral hiring that I know some others may be interested in as well. I'm a first-year analyst at a regional MM (STRH, RJ, etc). I'm interested in making the jump to a BB. I'd like to be in an industry group (industrials). Question is, how soon is too soon to begin the process? I'm not married to the one-year lateral, and would be willing to jump in Mar/Apr/May given the right opportunity. Thanks for any insight.
23 Oct 2016
So I currently work in a RX group and am looking at lateral options to go more traditional IB at aBB. I've done a significant amount of networking and found that there aren't very many seats open right now. I am in process with a BB in Chicago (JPM/Citi) doing Industrials and a BB Healthcare group in SF (JPM/DB). What are the pros/cons? How would each look in recruiting?
13 Jun 2016
This may be naive, but I thought I'd see what others thought. Currently in a position to potentially move to another shop on the other side of the country (moving from east to west coast). When inevitably asked "why X" city, would it sound silly to also include that's where my girlfriend is from? For reference, currently am a first year analyst. I do have some family there, which has helped a lot--but would it improve my case to also include the girlfriend part since it may signal some long-term commitment to the area/job? I'm worried it comes off as a little young/naive if I let a girlfriend
11 Aug 2015
Hi All, I am from Europe and finished my MSC degree about half a year ago. My msc was not a target, but top university in the country (My GPA was quite high, top 5% of the year with several extracurrilar activities). During my studies I did several internships (in M&A and Levfin) at a local bank and local boutique. After I finished my msc I started working in a IB/front-office department (think M&A/Levfin) at a local bank (still biggest in the country). Now here is my question: If, in ~1.5-2 years (mean I would have ~2 years of FT experience), I would like to latteral to a BB in London, what
30 May 2020
I'm a first year analyst at a Big 5 Canadian bank in Canada who joined off cycle this past January. I like Toronto but I really want to spend my second and / or third year in NY / London and do PE/HF recruiting from there. What is the best way to approach this? Should I network with school alumni and guys working in NY / London who used to be in my group? Should I go through head hunters? And is it too soon to start looking around? How much experience should I have before people will take me serious as a lateral? Are the Visa issues better or worse as a lateral vs. a fresh student?
30 Apr 2014
I'm currently a 3rd yr analyst in AM at a BB and have been interviewing for a lateral move to our IB (industry coverage). After the interview process I was offered an opportunity to join as either a 1st or a 2nd year (up to me). Curious to hear you guys' thoughts on whether you think I should start all the way from scratch and go with the 1st yr offer, or if you think it's doable for a non-IB background to straight into 2nd year at a BB (had relevant experience in AM, but definitely not the same job). Also curious to hear your thoughts on which move is more strategic as it relates to buyside
06 Dec 2014
I am a senior that will be starting a full time career at a big firm this summer but not BB think RBS/JEF/Stifel/Macquarie. I worked very hard this year to land a job at a top BB but just barely came up short. I know that I am lucky to even land a job in this market yadda yadda. I really fell in love with one of the top firms and not from an exit opp standpoint but from a culture/deal size/deal flow/location standpoint. How would I go about lateraling? How long into my job should I attempt? When do I begin reaching out to my network at these firms with my plan to lateral? Is it rude to reach out with this intention? How do I manage traveling to NYC to interview without my firm knowing? Do I tell my firm?
23 Dec 2012
If you get an offer to work as an IBD analyst (M&A or a coverage group) - at a firm like BNP Paribas, Credit Agricole, Wells Fargo, Macquarie or a smaller boutique advisor - is it possible to lateral to a top BB/elite boutique for IBD after 1 years experience? Or are the lateral transfers only possible if you are already at a top BB/elite boutique? Would you have to start as analyst 1 or can you continue as analyst 2? If so, is it best to start off as a generalist to keep your options open in terms of succeeding with a lateral transfer? Will top hedge funds/PE firms look down on someone who worked at a lower tier bank, lateralled into top tier IBD, and wants to move over vs someone who went to GS/MS/JPM directly? Appreciate it. I'm in the UK.
23 Apr 2014
Hey fellow wso'ers I have asked this question already on the boards but have yet to truly find someone whose brain I can pick about this. I want to lateral from a MM bank to a top M&A or industry group at a top BB or elite boutique in NYC. Not really just for the exit opps but for the high profile deals, the big city, and yes the exit opps SHOULD I decide I want to switch later in life. I have used the search fiction extensively but the info is old and the posters have been unreachable. Can someone who successfully lateraled from a mm bank to a top BB or elite boutique please PM me if you are willing to share insight and generally educate me on the process and your experience? Thank you all for your help.
15 Mar 2013
I've been an analyst in a coverage BB group for over a year now and have the opportunity to interview for an analyst position at GS/MS/JPM (same coverage group as current role). I lateraled into my current position from mm research (worked for 1 year, same industry as current coverage group) so I wasn't really planning on making another move for another year, but the deal flow in my group has been relatively weak and I'm worried that I'll end up with weak deal exp after my 2-year stint, making it very difficult to get into PE and resulting in me lateraling to another bank after year 2. In
27 Jun 2015
I'm currently a first-year analyst considering lateraling to a bb from a mm bank. My primary motivation is that my current group is systemically understaffed until the summer at the earliest (A to VP and above coverage ratio of less than 1) and it's hindering my ability to learn new things (no one has the time to teach me and we all agree that that is the case). The jump would entail changing industry groups. Pros: New 10k signing bonus, guaranteed top bucket bonus buyout, better name Cons: Switching industries, burning bridges at the old bank, effect on resume Anyone have any advice on this? I'm particularly worried about changing industry groups and damaging future buyside exit opportunities Thanks for your thoughts
21 Jan 2012
Deciding between FT offers at a MM in IBD (think Cowen, Piper Jaffray, Jefferies) or ECM at a BB. After 2 years in ECM I'd have the option to move to a coverage group in IBD at the BB. Mostly interested in talking about exit opps. So, better off after 2 years of IBD at MM or 2 years of ECM and 1 of IBD at BB? Also, would it be worth it to try and lateral in IB from a MM to a BB or would that be harder than moving internally from ECM? Thanks in advance
03 Oct 2012
I am coming from a ivy with a low gpa (3.2) with a major in finance. GPA is low because I had a bad academic transition to college but I am looking at a 3.8 for senior year. Also captain of a sports team and named academic all ivy this year. Accepted an offer at a no-name boutique that is growing in a sector I find interesting. Hoping to hear any insight on my future chances to lateral after a year or so to a bulge-bracket or at least a better bank in nyc. Will my low overall gpa still knock me from making this move? Was very focused on my sport throughout college and focused less on academics
27 Mar 2018
Has anyone ever heard of / worked in or with Evercore's Asia Alliance group? I understand it is a team that does Asia & US cross border M&A advisory work, but is it the same as Evercore's other coverage groups in terms of daily responsibilities (e.g. modeling), skillset, and exit opps? Not sure what the group really does if Evercore already has industry groups covering the clients. Saw an opening for the group and would appreciate any insight on this. Thanks!
15 Jan 2018
Thanks for taking the time to read. I know several threads have been devoted to analysts making the move from MM to BB or no-name boutiques to BB, but I'm wondering what everyone's thoughts are on lateraling during your first year from a coverage group at a lower-BB (DB/Citi/Barclays) to an M&A group at an elite boutqiue (LAZ/EVR/GHL). How would making this kind of move affect buy-side recruiting? Clearly the latter shops generally have more luck in placement in PE, but would this hold true for an analyst lateral? How would the head hunters perceive such a move, assuming that you already have a good amount of deal experience? I appreciate any insight that anyone is willing to share. Feel free to PM me if that's more appropriate.
27 Feb 2013
Currently at a semi-target and incoming SA at a reputable MM (STRH/Baird/Oppenheimer). Obviously, I'm very excited and grateful for the opportunity, and given how enormously difficult it was to break into the game, I am intending to stay with the company. My first and only priority for this summer is getting that FT return offer. However, I can't help but be enticed by the "what else is out there" idea. Would it be worth it for me to try and network heavily near the end of my summer internship, around accelerated application time, with EBs and BBs? This is assuming I don't have a great
09 May 2018
Hey guys, I played professional basketball overseas for a year after graduating in 2018 and now I'm looking to start my career in investment banking as an entry-level analyst. I went to a non-target school and received my degree in finance while also playing on the basketball team. I took an M&A course in college and also participated in the William Blair Case Competition. I wasn't able to complete any internships due to the basketball workouts we had in the summer. I started the process of trying to lateral into banking in February and have been doing everything I can with networking & self
14 May 2020
Just saw that one of the analysts at my bank (MM) jumped ship after 6 months on the job. What's the fastest you've ever seen someone lateral in their first year?
07 Mar 2020
Hey all, Just curious, how difficult it would be to lateral over from a BB or Canadian BIG 5 IB firm in Calgary (with education from the University of Calgary) to one in NYC, London or Mainland Europe (for instance Zurich)? Also, any tips for someone trying to attain an internship in one of the aforementioned places if they attend the University of Calgary not an American Target? Cheers
15 Apr 2019
Hey Everyone - I'm hoping that the broader WSO community can weigh in here. I have a buddy that just finished up recruiting for a BB and started last week. He was still in discussions with others and one came back to him with an offer - and it's a firm that initially he might have taken over his current role. What advice would you give him? Stay where he is given he's already started and it could be a good opportunity long term, or leave 2-3 weeks in and go for the other place? Both firms are of relatively comparable quality. Maybe the new offer from the bank is a slight notch better.
13 May 2015
Hi all...I am a college senior from an ivy with a lower gpa (3.1-3.3) with a major in finance. Low gpa is a product of a poor academic transition into college. As a senior, I will get around a 3.8 for the year. I am also a captain of a D1 sports team and was named academic all-ivy this year. Focused the majority of my time in undergrad on my sport and my lack of good internship experience and gpa hurt me during recruiting. I accepted an offer at a no-name boutique on the east coast. When I start, I obviously need to prove myself and be good to even consider a lateral to a BB. Looking for any
27 Mar 2018
So due to some personal reasons, I will be out of the States till the first week of April. I haven't lateralled before but people tell me that most people who leave or change firms do it immediately after they get their bonuses so does this mean I will miss most of the opportunities? P.S. Any advice will be helpful on how to deal with the current situation as well
04 Mar 2014
I'm an analyst in a niche product group at a BB (think ECM/DCM) and dead set on lateraling asap to a Healthcare coverage/Lev Fin Healthcare group at another bank (internal switch very unlikely to happen). I've been combing all possible career websites for months now, but no success yet. Do you guys have any tips as to where or how to search for openings, and what's the best time of the year to lateral? Thanks in advance!
09 Dec 2012
Hey guys, looking for some advice. For the sake of anonymity, is anyone well-versed in the lateral process if someone is looking to move from one BB to another? Would appreciate if whoever knows their stuff, preferably a Certified User, could PM me (don't have enough points or whatever to PM someone), looking to ask some questions. Thanks!
27 Nov 2014
Hi guys, I know the lateral opportunities for first year analysts are very slim and scarce this year but has anyone been able to move? Just curious since nobody has brought up the topic yet and I'd like to lateral at some point. Thanks.
02 Mar 2012
I am a current SA at DB in a group that has had solid recent exit ops (EBs, MM PE, HF) and go to a target with a solid GPA ... not necessarily worried about layoffs given the activity of the group I'm in but just wondering if anyone had any thoughts or experience on a lateral move to FT at another BB or if it even sounds feasible
03 Jul 2018
Hi all, Long time member of WSO but made a new account to remain anonymous. I wanted to see if anyone else has been in a similar position who can shine some light. I went through interview process for a BB IB lateral analyst role several months back, no news until Feb where they called and said they were very impressed by me but are currently figuring out their headcount not just for the location that I applied for but in other locations as well (the group is divided over several locations). They welcomed me to the firm but suggested to keep recruiting. It has been a month since then. Has
25 Mar 2018
Hi all, There was recently a post in the IBD forum that I found interesting. There was a suggestion to post in the RE forum instead, but basically trying to see how Jefferies is in the real estate IB space. What sort of deals and exit opps (PE) there are would be helpful! Thanks.
21 Jan 2018
What's up guys, thanks in advance for any advice you can give. For background, I recently started in a position at a fairly well known bank basically doing leveraged lending and commercial finance. I think I've been learning some decent skills in terms of modeling and what not but I'm desperate to get into an investment banking position and possibly an investing role down the line but am not necessarily against staying in IB. That being said, any advice you guys can give in terms of how to best position myself to get into an IB roll, where to look, when to apply etc. would be helpful. Would
19 Oct 2017