Manager fired, debating to exit

Hey all, dealing with a crossroad in my life to which any advice would be much appreciated.

So I work at a BB IB within ER after c.3 years following time at the B4 auditing and gaining my CPA/ACA. Prior to this week I had mentally checked out, hated the nature of sell side ER the way it’s going and the firm. While I love analysing companies, we are moving towards a call centre approach to clients while I also naturally do not enjoy the marketing elements of the gig. Separately, while I can see the sector around me (retail) does not have the legs for growth/carve opportunities and if I’m ever going to switch sectors - better while I’m young.

This week my manager (D) was let go with a month notice. He was a mentor to me and while he held all stock coverage, he dealt with all of the noise I hate (clients, sales floor etc). The subsequent picture looks bleak as I’ll be replacing an analyst with 20yrs of experience, covering an entire sector - although I imagine I will be spinning plates and holding the fort at an extremely busy time while also no extra pay/promotion (currently Associate @ c. $120-150k). Effectively we will be in hedge fund mode with research shorter than a few pages and no deep analysis (which I enjoyed) while running around on client outreach.

I am considering resigning in the next few weeks - based on my hatred for the trinity of; I) Sell-side ER - do not have it in me to flog weak 3 page reports to the buy side/sales, ii) the firm (well publicised in the news) and iii) Retail sector (limited growth, naturally not as exciting as elsewhere). While I was keen to take a few stocks under coverage to extend the learning curve where I have plateaued in the past year, effectively doing a D’s job I hate is not a step in the deep end of the pool but the Mariana trench.

Anyways, never had a chance to travel and built up some savings. Considering quitting, taking a few months to travel before returning and having a crack at the market after. Aware it’s a weak market but speaking with an ex-associate from another BB IB who was in the exact same position made a move to VC after travelling, which sparked something in me. Along with a move to buy side, with my CPA/ACA, the CFO track is equally a path I’m considering via FP&A. While mindful of the golden handcuffs and will have to take a cut, rather rebase now before fixed costs rise later in life.

All I know is that, it cannot be this and debating timing of the resignation. Sooner makes it easier as I’m not being stuck midway in the rebuild and a hectic earnings season but equally later (+1/2 months) gives me time to apply elsewhere and plan travels.

Completely lost - any help would be much appreciated! Checking in if I’m crazy or not while advice on timing exit also super useful.

 

Completely a truism. That being said we do not want to drop coverage so there is always a role to cover these names. Question is whether to walk away from the money or rebase and try a new sector and gig

 

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