Is it possible/common to lateral as analyst after completing your first year? I know typically analysts are signed to 2 year "contracts", but I'm wondering if it's possible/common to lateral after only a year and the consequences associated with that. I know bonuses might come into play here. What would you need to do to make that happen? Thanks.
02 Sep 2020
Hi, Currently a first year analyst and started on the desk a couple of weeks ago. Was wondering if anyone have advice on how long I should wait before lateraling to another bank? I see opportunities of groups I want to lateral to popping up on job websites and am not sure when I should start applying for them. I feel like most former analysts at my bank or other banks lateral after 1 year, but have also seen some move after 3 months. I am also a bit concerned about my current group being pissed off and talking to the group I am applying to. (It's a small world) Does anyone have previous
22 Aug 2020
After ~4 years of IB, I'd like to see what it's like to work one of these "normal" jobs at a tech company in some sort of Finance / Strategy / Biz Dev role. The recruiting path and even job responsibilities are not nearly as well-defined as they are for traditional paths such as PE, so I'm trying to gather information on the subject. Here are some questions that are top of mind right now. What are the most common roles at tech firms for ex-bankers? My guess would be: Corporate Dev (very common) Internal Finance (very common) Strategy / Ops (less common, probably skews more consulting) Biz Dev
01 Sep 2020
I have an offer for capital markets group at a low tier BB, which I will take due to current market conditions. In the future, I am thinking of lateraling to a better bank/group, but I don't understand how lateraling works. Some questions I have are: - Are there specific job postings that want 2nd year analysts? - Am I supposed to start applying online when I have 6-9 months of experience in my current role? - If I am able to lateral, will I have to start over from scratch again? Or will I be treated like a 2nd year analyst, similar to other analyst who originally started at that bank/group? I
14 Sep 2020
Hi all, I'm currently a first year Associate at a MM PE fund in the Midwest. My program is a 2-and-out and I'm looking to move back to NYC (did 3 years of IB there) at its conclusion. I will be reaching out to the normal list of headhunters contained in this list but was wondering if there were other firms who specialize in lateral PE moves. Please let me know if anyone has any recommendations. Thanks!
09 Apr 2020
As the title suggests, how are the internal lateral opportunities at firms such as LAZ, PJT, EVR, and HL? Would appreciate hearing if anybody has done this before.
03 Apr 2021
Hey everyone, hope you are navigating this crisis well. Long story short, a couple months ago I joined a MM (pretty middle of the road MM) in their TMT group in NY. However, the NY group exclusively works in Media and Telecom and I want more tech exposure and want to lateral some time in the near future to a BB or EB group. I know the lateral market is tough rn, but I was curious if anyone had pulled off a lateral during a time of recession? I fully recognize a lot of people are merely looking to keep their jobs and don't mean to come off as greedy, I am just curious whether this is something
13 Apr 2020
Just received an offer to lateral to another bank in London and will hand my notice in sometime over the next few days. What's the best way to quit during this environment? Was thinking just to call my team head and then send a formal resignation email afterwards. How does the process work? Will they cut me off the system as soon as I resign?
15 Mar 2021
How many people would you say you/your firm typically interviews after making it through the resume screening for a lateral analyst/associate position? Interested in hearing answers ranging anywhere from micro boutiques, regional boutiques, MM's, BB's, Corp Dev, etc.
09 Jun 2020
I am currently anxious that I will either be let go or pushed out come promotion time due to my firms "up or out" culture and the team being overstaffed with Associates. Is being fired / pushed out at the Analyst level a death sentence in the industry? Should I begin looking to lateral now? Any advice is appreciated.
24 Sep 2019
Do I have to tell firm management where I am lateraling? I might be leaving to a competitor and would prefer not to mention which bank I am lateraling to. I'm not sure if there is FINRA regulation related to this.
05 Mar 2020
Fellow monkeys - I just put in my 2 weeks and will be leaving my current firm shortly and lateraling to a EB. Any advice on loose ends to tie up before leaving the current firm? Obviously will be reaching out to the people I worked with for a catch up, but any guides out there on what I need to do with my 401k, all my insurance accounts, etc. Thanks for all the advice from this platform on the process - I wouldn't have made it without your help!
10 Feb 2021
I am an analyst in sales and trading, and have found that many of the jobs I want to do after my stint on the sell-side all require IB experience. As such, I am considering a move to IB. I know that I'll be coming in as probably a 1st year analyst, which I am fine with. However, what's the best way to network for these roles? I assume most will be filled by returning interns. If so, what types of firms should I be looking at? I don't want to "trade down" too much (i.e., go from a BB to a no name boutique), since I feel like that would be giving up a lot of opportunities. Thanks in advance for
20 Jan 2021
I am supposed to join a bank this summer as an associate, but this pandemic has given me a lot of time to think about where I want to live and how important family is. Is anything else having these thoughts? Wondering if it's worth looking for another Bank this late in the game or if I should do a year and lateral.
11 Jan 2021
How far along in your career is it appropriate to remove your GPA from your resume? Asking specifically about moving between PE firms after 2-3 years of experience (so ~5-6 years after undergrad), or perhaps when applying post-MBA? Thanks
08 May 2019
Title does kind of explain it all, but essentially, I am a senior at an Ivy double majoring in Economics and History. I got COVID near the end of the semester and it knocked me out for a month+, including a lengthy hospital stay. My professors tried to be as accommodating as possible, and I passed, but my grades dropped so much that I will most likely graduate with a 3.4, maybe 3.5 if I do perfect next semester. In addition, I have a strong resume, athletics, good extracurriculars, etc. I will be working at a "top MM bank" after graduating, but I am wondering how that 3.4 will look to future
11 Dec 2020
I'm an undergrad junior (3-rd year) going to a US top-target (think Stern in terms of placement, but we're a regular uni.) majoring in Engineering with GPA 3.8+ and a Summer 2021 offer from a mid-tier BB in Hong Kong for IBD. I also did a few internships in the past (mega-cap Asian sovereignty fund investments part-time; top Asian IB-DCM summer). As you can see already my issue here is that I am way too Asian on paper (in person that is kind of true too, I'm not the loud American / athletetic type but rather introvert; but 1-on-1 I'm personable enough). I'm not entirely content with my 21 SA
24 Nov 2020
Hey WSO, I've been a forum lurker for a little over 4 years now and felt like it was time to contribute to the community. My background: As the title says, I went to undergrad at a non-target where I majored in finance and economics. Had internships in boutique restructuring consulting and in a Big 4's capital markets group. It was a grind to even get those opportunities, so believe me when I say that interviewing for Big 4 opportunities at a non-target is just as competitive as the BB recruiting stories at targets. I would say I performed well throughout the application process primarily
08 Aug 2018
Hi all, I'm currently an associate going into his 3rd year at a MF in NY. I'm starting to think of next steps and am curious to hear the thought process of those who were on a "partner" track role who decided to go to B-School instead. What pros and cons did you weigh in making the decision? Did you have an end goal in mind going in? Additionally, did you consider lateraling to another fund instead to move up the ladder faster? Being presented with a good shot at HSW coming from the MF name vs. lateralling to a lessor known MMPE shop in a lower COL city (slightly higher pay, sr. associate
10 Oct 2018
Hi all, I have offers from two reputable PE secondaries firms ($30B-$40B AUM). I was curious as to the feasibility of lateraling into direct PE or even IB following an analyst program at one of these places. I know the financial modeling training is not as robust, but these firms place a heavy emphasis on rigorous quantitative/statistical modeling techniques in the due diligence process; how marketable would this kind of skillset be to a buyout fund or a top-tier investment bank at BBs and EBs? What about a HF? For context, I'm debating between taking one of these buy-side roles and accepting
19 Oct 2020
I am an incoming analyst a low-tier BB, but I will be working in DCM. After one year, I want to lateral to an M&A or coverage group (want PE) at another bank . I understand that lateraling to M&A/coverage at another BB will be difficult, so I am thinking to lateral to a top MM, such as HW, Baird, HL, Jefferies, Cowen, etc Would that be a good idea? Would it be a fairly easy transition since I am moving down a tier, from a BB to a MM? Or would it still be very difficult regardless, since I am in DCM? Any advice would be helpful, especially from anyone who has made a similar transition and
18 Oct 2020
I'm currently an equity research associate (2 years experience) at a top BB in NYC. I'm looking to get into IB, ideally by transferring internally within my bank. Does anyone have any insight on how to approach this? What's the best method / what should I avoid? Appreciate any help.
06 Oct 2020
Hey everyone, long-time lurker/poster but recently made a new account. My dilemma is as follows: got an offer to be an analyst for an infrastructure investment firm, the day I went to sign the contract they said they'd need me to help the advisory team too (they do advisory, direct investments, and asset management), and I said okay. Although I was unhappy about I tried to look on the bright side since I'd be getting a more varied transaction experience. Now my involvement on the deal team is deplorable, I honestly feel cheated, I came to invest in infrastructure and rejected other offers for
10 Jul 2018
I've been paying close attention recently to what the people who advance quickly in their career have in common, and what the people who are stuck in the same role for years have in common. One insight I had was that the people who are stuck in the same role for years and decades are no different than guys who get friendzoned by a girl. Committing to the Friendzone Forever Every guy, no matter how confident, wealthy, attractive, successful, or smooth, has been rejected by a girl. The biggest difference is that the real studs don't let themselves get friendzoned. They stop wasting time on the
25 Dec 2017
What strategies have you guys used in cold approaches when trying to network for a lateral/upward move? It was easy in undergrad when you could play the "I want to be in your industry, can you tell me about it and how you got there" card, but a little less obvious how to approach when you're already in the industry, you know a thing or two, and are just looking to land an interview. How would you go about reaching out to an alum with regards to a specific job opening? How would you go about reaching out to an alum in your target market or firm without a specific "ask"?
10 May 2017
I'm current approaching my first year as an analyst working at a top MM bank's satellite office (Piper Jaffray, Baird, William Blair, Houlihan) and have recently decided to pursue lateral opps to MBB. A big part of the decision came from personal reasons - being an international student, I knew that continuing down the IB/PE path pre-MBA would mean seeing my family every year or so, and I realized that $$ isn't > family and other relationships I care deeply about. After a year in IB, I've realized that there's little room to think critically and creatively at the junior level, and strategy
03 May 2017
Hi all, I worked at a large firm in M&A for over 2 years and switched to a much smaller firm. Been here about 1.5 years now, I'm doing well and got promoted and everything but want to get back to a big firm. I have traction with some BB and elite boutiques (my main targets) and have an interview coming up with a BB in one of their top industry groups (one of the standard EBITDA-driven industries - industrials, TMT, consumer retail, etc.). I have relevant industry experience and would be shooting for a 2nd yr associate title. Any advice for these interviews and what key points and questions to
24 Apr 2018
Hi All - I'd be interested in hearing where the associates at your buy-side shops are going these days after their two years? I've had the opportunity to work at three firms that have spread venture, middle market PE and lower middle market growth/buyout with AUMs of 0.5-1B, 3-5B and 5-10B. I'm noticing an interesting dispersion of associate moves and namely, business school is not too popular. Here is the path I've seen of the individuals I've worked with directly: 31: Associates I've worked with who have completed their program 29% / 9 lateraled to positions at other firms 29% / 9 were
20 Jul 2018
Hi all, Was planning my next moves in case the current full time recruiting falls through for me. Ideally I would like to move to London and work at a BB/EB that I like. What would be the best way to go about this when I can't secure a '18 grad role? - Move to London and start at a smaller firm (big 4, lower MM, boutique or valuations firm) and lateral after a year; - Start at a MM/large firm in my home country and try to lateral. I'm thinking #1, as you cannot easily fly out to London with the IB hours you are working to interview for laterals. What do you think?
20 Oct 2017
I'm a long time user of WSO, and as the title says, I've had a pretty convoluted career path so far. I started off in S&T out of undergrad, and was on a prop desk that was getting decimated (historically it was one of the most profitable groups at the BB). I was desperate to make the switch to an IBD coverage role but did not have much luck so had to start of as a 1st year analyst in a capital markets team. I knew i wanted to work in PE so I eventually made the switch to a coverage team as a 3rd year analyst and went through the off-cycle PE recruiting process, which eventually led to a MF
11 Jun 2016
I was wondering how long or if I should expect to hear back after a final round for a lateral analyst position I had a week and a half ago? I interviewed on the phone initially then I was called in for a first round, where I met with a VP/Director/analyst. That same afternoon, after the first round, I was called by HR to schedule a final round for the next morning, Thursday 10/29. That Thursday I met with 4 MDs, including the head of the group. So far, I have not heard anything from HR or the staffer, both of which I have followed up with a week after the final round. Does anybody have
10 Nov 2015
First time posting but I was recommended by a friend, During some recent downtime, I have been considering a career change. For some background, I have worked for a top talent agency in New York for the past ~2 years in a business development role. Right after graduating from a large state school with a finance degree (3.5 GPA), I started this role, and my resume has an internship from another top agency and wealth management. I am interested in transitioning into consulting in New York. How feasible would this move be, especially in this environment, and where should I start?
18 May 2020
Posting this in the hopes that somebody understands this/has real experience in this. Looking for first hand information about lateral moves as an Associate (not media or TMT, large bank) in London to these two specific shops. I would welcome views from the US/elsewhere but simply specifying location since their presence is minimal here and therefore opportunities are seldom. Any advice would be appreciated. I've obviously read through these forums for info (there is little), have spoken to recruiters about what they know (not tonnes except that they rarely hire and that when they do, it's
02 May 2020
What would you guys say are the best headhunters to use for IB laterals? I found a few topics on this but they are all outdated and generally do not have great responses. My buddy is looking to lateral from a European city (he is in sort of a hybrid trading / lev fin role at a BB) to NYC and all of my recruiter / headhunter experience has been buyside focused so I unfortunately do not have great advice to give. All of the IB postings I have gotten over the past few years have been from CW Partners, Pinnacle and Pinpoint but I am sure there are more / better options. Separately, has anyone had
16 Jun 2015
Hi all, Currently at a MM in a rotational program, consisting of multiple 3-6 month rotations. While it seemed a good idea when I started, the practical implications are that because of the short tenor you have at all of these departments (infra, FIG coverage, Debt etc., all CF FO) means you don't really get good deal exposure. Because of this, I'm thinking of lateraling to a different firm, and try and find a coverage or dcm role. My problem: I don't really have deal experience, more research/business development and doing valuations for various projects. So this would give me 3 problems when
28 Jun 2018
Hi guys, I'm from a top target school and currently have an internship for the summer at a BB M&A group. Should I want to lateral to a different BB next year, what should I do? I'm mainly interested in TMT or M&A for lateral, but that may be asking for too much. I understand that FT recruiting is limited, since most of the spots are filled with previous summer interns. But I've heard of some people being able to lateral. Besides getting a return offer, what else should I do to get into accelerated recruiting? I don't have many IB contacts (I got my current internship without any networking or
18 Jan 2017
So I am a recent graduate from a semi-target, 3.7 who landed a SA position at a MM firm right after graduation. Wondering what are the necessary steps I need to take to lateral after this summer to a BB FT (possibly starting in January or later). Also, I realize the importance (and necessity) of networking and wondering if it is too early to start considering most firms have just started their internship cycle and since they take a large majority of their FT analysts from their intern class, I want to take that into consideration. Currently, my first priority is to impress at this internship
07 Jun 2016
How exactly did you go about doing this? Did you network with other banks before/during/after the internship to get an interview or was FT through OCR? Hell, did you even interview for FT during the internship and how'd you pull that off? Thanks in advance.
10 Mar 2015
Graduated from an ivy, working at a large bank. Got placed into the ECM group. By no means want to trash equity capital markets or my firm but I am just not learning any of the skills I got into banking to learn. And with the markets the way they are currently... I am barely getting experience with equity as a product. Ideal move would be to start over as a 1st year analyst in a coverage group sometime in August/end of summer. I would really hate to forfeit my bonus, happy to take a 'demotion' for a new firm. Would love to hear from anyone who has made a lateral move / moved from ECM to
19 Dec 2015
Hello, I am currently interested in lateraling from my group, and am hoping for any advice or any stories from people who previously gone through with the process. I am currently a 1st year analyst in a top MM in the west coast (think Jefferies/Houlihan/Sagent/RBC). I prefer looking for a place in New York, although staying on the west coast is okay. Looking for BB/EB on best case scenario, but unsure how to pursue this route. Should I be connecting with headhunters? How do I do this, as those who have approached me have not been for IBD. Do I network with associates,VPs through cold emails?
23 Jun 2014
Hey guys, Thanks for being helpful on this forum. Right now I've received an offer to lateral to another bank in a busier part of my industry. I think I'm the best candidate they're going to hire. What can I expect in the form of compensation / bonus for a lateral? They've provided a small stipend for moving expenses but I'm wondering if they'll pay me for the bonus that I'm leaving behind at my current firm. Is there a precedent for this? Do you know how laterals were previously compensated? Also - do you know if they kept their title or lost time on that during the transition?
12 Mar 2020
So my friend started looking for a PE gig at end of her 2nd year (July 2015), but since then she's had a lot of interviews but hasn't landed anything. She's had so many interviews, that most people in her team have realised she's interviewing. She's due for the associate promotion this July, but given her team already has a lot of associates, and there are 4 analysts up for promotion, she's think its likely someone might not get promoted – and thinks its most likely to be her. She's not enjoying the job, but she doesn't want to lose it either. So what do you think she should do: 1. Still try
11 Feb 2016
Has anyone taken the courses and gotten the certification? I was told by a few senior people that taking this would look great on the resume and would help me lateral into an underwriting analyst role, since I am in an entirely different industry at the moment. Any thoughts or comments on this? Any other suggestions on what I can do to stand out as a lateral applicant?
23 Jul 2014
Hello everyone! Thank you all so much for the thoughtful responses that have come out of these threads - I have another question for the group that I was hoping I could receive some help with. I am thinking of accepting an offer with Deloitte S&O, but I know I don't want to do consulting for the long-run. Rather, I am interesting in (1) the skills consulting develops, (2) the exposure to a variety of industries and companies, (3) the quality of experience/projects and (4) the exit opportunities (industry and/or bschool). I know Deloitte is really strong on skills, exposure and to some extent exit opportunities, but MBB would be especially stronger on the quality of experience and the exit opportunities.
17 Dec 2014