Lateraling to BB from no name boutique. What should I expect?
Starting at a BB coverage group on Monday after spending 2 analyst years at a no name boutique. Given the hot lateral market, I’m assuming I’m not alone in being slightly nervous about starting a new role at a bigger platform in this WFH setting.
Who else here has made the transition during COVID and does anyone have any tips / advice for someone starting a new job remotely? I anticipate there being some wheel spinning going from modeling $20MM companies to large public companies, working with larger more complex companies, etc. Would also be curious to hear what everyone’s general experience has been with moving to bigger platforms.
Thank you!
Banking is banking. You’ll be fully ramped in 1-2 months. Big banks have a lot more resources and infrastructure you will find helpful but need to get used to. Expect to also work with larger more sophisticated clients, you’ll spin your wheels less on bullshit that mm clients dont always have in order. I assume you’re going from m&a only to full-service, becoming familiar with the new processes is also not difficult - you’ll have air cover from seasoned associates anyway so don’t stress. Enjoy your time between jobs and congrats on the switch
A month on, just curious how you are finding the transition?
Will also be transitioning from a no name to a BB a little later this month, and similarly nervous.
Hey man congrats on the switch! Definitely enjoy your time off and don’t be too worried. I’ve found the experience so far to be way more demanding but “rewarding”. Now that you’re in the big leagues, people will expect you to get things right the first time because you have experience and you should absolutely expect a change in workplace dynamics. My old firm felt like a family whereas my new BB is filled type A hardos who rarely show any genuine emotion lol.
Aside from all that, everything I do seems way more interesting on the surface just given how cool our clientele is. Maybe I’m still in the honeymoon phase but arranging slides on a IPO bake-off for a cool company seems way more worthwhile than doing the same thing for a $5mm EBITDA company. You’ll definitely be less recognized for hard work (the MD running 12 different processes could give 2 shits that you stayed up until 4AM) and work will come in from more angles with ambiguity on how to prioritize. Overall, I think the move will strengthen you professionally but will certainly be more stressful. Bigger firm = bigger assholes and expect impatience from VPs and seniors but atleast you’ll work on cool shit. Convoluted answer but hope that helps.
Please enjoy your time off… hahaha
Thanks a lot for the answer! Any tips on handling the transition, which you wished you knew when you started?
Honestly there's so much crap I couldn't really be prepared for (internal systems, bank-specific processes). Personally, coming from a small boutique where even texted each other and messages were often sent in subject lines, be aware of how you communicate and be conscious of sending people emails that don't need to be sent. You'' adjust pretty quickly but the first few weeks of being ramped won't be pretty lol
I’m a position going to be starting at a no name bank. Can anyone provide clarification on how easy/ hard it was to lateral?
Well during 2021, they were taking just about anyone. Its going to be a brutal grind up to get to an EB/BB from a no name at the moment
I don’t start for another year. What can I do to give my self the best odds of lateraling as quickly as possible? Even if it means putting my job in jeopardy
Porro et amet in. Eligendi sunt porro earum omnis.
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