The mechanics of quitting

I currently work for a very small family office. Have an offer to join a bank. The offer letter includes contingencies about background checks, etc, and a start date of September 1st. I need to move 1,000 miles away before that time.

1) Should I put in two weeks notice now and take an unpaid vacation with the remaining time before starting on 9/1?
2) Should I wait to quit until the background check clears, or would that just be being paranoid?
3) If "two weeks notice" becomes "ten days notice" does my employer have grounds for getting upset with me?
4) Aside from all personal records, what should I have compiled, taken or done before dropping the bomb?
5) Any other tips on protecting your interests / preserving relationships / quitting your job well?


Valuing Country Risk: Pictures of Global Risk - Part II

In my last post, I looked at the determinants of country risk and attempts to measure that risk, by risk measurement services, ratings agencies and by markets. In this post, I would first like to focus on how investors and business people can incorporate that risk into their decision-making. In the process, I will argue that while it is easy to show that risk varies across countries, significant questions remain on how best to deal with that risk when making investment and valuation judgments.


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RE: 7 Reasons You Shouldn’t Work In The Back Office

I've read this piece not too long ago when I was still a college student. But now more carefully at it (Especially now through the eyes of someone with real industry experience), I have to say there seems to be a lot of misleading information here. I wonder if anyone else here thinks similarly?

1. The Front Office Doesn't Care

If the FO follks really "don't care" then how would they like it if those people weren't there to begin with? The majority of employees in any investment bank and possibly Wall Street in general actually fit into the BO category.


Infuriating Technical

Really simple one that I've gotten a couple different places: two firms otherwise identical, one has more leverage, is its P/E higher or lower? (Yes, I've searched every WSO thread about this, and Here are my competing thoughts on this:

Denominator: EBITDA is the same, levered firm has tax-effected interest expense so overall net income and EPS are lower. This seems to be pretty clear.


3 options - which one is the best?

Hey! I am having a difficult time making a decision and was hoping that I could get some advice.

I recently graduated and have three options for the fall:

1) A job in operations/strategy at a new startup. The startup recently raised $10-25 million from several prominent VCs in its first round of funding and brought on a few former CEOs as board members. The job has a decent salary, great benefits, and includes equity. At the same time, there's always the possibility the startup could blow up.


What do you love and hate most about working in IB?

Just curious, what do you all love and hate the most about working in investment banking? I'm referring to tasks, not hours or people or anything like that.

I'll start. I love modeling. I really hate filing/tracking company records for compliance. I imagine that's not something a lot of the bigger bank analysts do..


7 Things I Learned While Running a Business

Thought some of you may enjoy reading this. For the last 1-2 years, I've been running an editing service as a side gig. I probably won't operate it for too much longer because my regular job takes too much time, but I thought there were some good takeaways from running it that I will definitely consider for any future business I start. After all, that is my end goal. I'd be happy to answer any questions!

For the past 1.5 years, I've run an editing service with a friend from Germany. Having studied abroad twice, I've had several international friends (non-native English) ask me to look over their papers for grammar mistakes, and they would usually compensate me with dinner or alcohol. Alcohol was the preferred payment, as Systembolaget (Sweden's government-run liquor chain) was beyond expensive. When I returned home after the second stint abroad, I reconnected with a friend I had met abroad, and we decided that there might be a market for offering affordable editing services, as editing services are typically not within a student's budget. At the time, most base prices started at $0.02/word, so you can do the math for a thesis/dissertation that is over 20,000 words. No student wants to spend their paycheck from their part-time job on this kind of service. We figured if we kept expenses low, we could charge low and become the "student-friendly editing service." Here are the top seven things I learned about running a business:

#1. A lot of competition is never good.


AMA Big 4 TAS Senior Associate

Long time viewer and yet to post anything yet. I've got some free time today and thought I would give back via an AMA.

Background: I work for one of the Big 4 in the Transactions Services - Financial Due Diligence group as a senior associate. I mainly perform buy side due diligence for private equity firms and tech corporations.


McKinsey Who?

Stumbled across this Forbes article from 1999 (link at bottom of post). When reading the first few paragraphs, you could easily think it was written yesterday (aside from the salary #'s). Makes the dotcom bubble of yore feel eerily familiar....

" 7/26/1999 McKinsey who?
A June graduate of UCLA's Anderson School of Management, 27-year-old Seth Baum scored choice job offers from Deloitte & Touche and Diamond Technology Partners. Diamond promised e-commerce consulting work and stock options on top of a $140,000 salary and bonus.

He turned both down for a $75,000 job as senior marketing manager with Petstore.com, a one-year-old, on-line pet supplies retailer in San Francisco. Petstore offered him 50,000 stock options that could make him a millionaire when it goes public.

"The old wave is banks and consultants," Baum says. "The new thing is 20-person Internet companies."


Rewind - TMT Investing - Everything you need to know + Q&A

In case you missed our July 9th webinar entitled TMT Investing - Everything you need to know, have no fear. The full recording of the webinar will be available for free on the WSO homepage on this date: (free for only 24 hours and then it goes into our Video Library). Do you want to a 1 on 1 mentoring session with Sid? Click below:

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To see the original event page with a description of the webinar and read more information about the presenter click here.

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When: 
August 9, 2015 - 8:00am to August 10, 2015 - 8:00am
Event type: 
WSO Webinar