How soon is “too soon” to consider a lateral to a larger IB firm? I broke into IB about 4 months ago with a small boutique firm. I joined with the understanding that my pay would be significantly lower than market but nonetheless accepted to gain the experience to eventually jump ship. I make about $110k base no bonus. I hear that market rate in total comp is like ~30-40% higher. Do I have good chances to secure a lateral? I have public audit, FDD, and CPA. Thank you in advance.

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Assume your title is just inflated because you’re likely more an analyst than ASO. In any event even analysts make more. At an ASO, at a bigger bank, you’d be breaking 250K TC. 110 + 40% would be base only.

To answer your actual question, typically people stay 1-2 years. You may want to stay the 2 to gain experience. Depending on the type of work/quality, at a boutique you’re going to see more depth and breadth of a deal simply because resources are smaller. I would stay and increase your worth, then jump once you know what you’re going.

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Realistically, I would give it 12 months. You can always look and network. Do whatever you need to do to market yourself.

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It doesn’t hurt to start networking / putting feelers out now. But agree that rule of thumb is at least a year. Just make sure you’re not telling other banks that you’re looking to leave for comp reasons

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