I am on a 4 person team consisting on a VP, two associates, and an MD. One member of my team recently quit and another just gave notice, however I also been interviewing and just received an offer which I intend to accept. I had no idea the others were also considering leaving. If I were to quit that would leave just my MD, who is not capable of doing the job alone (he can barely use a computer). I feel bad putting them in this spot but wondering if anyone had any advice for how to handle it?
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Everyone for themselves. People come and go in this business, your MD should understand this.
For the last time, you don't work in ER anymore. Go post in the AM forum about beating your benchmark by 100 bps. Your takes are cold, bordering on downright shit.
OP, everything is a lot more nuanced than this. It partially depends on your exit opportunity. If it's buyside, your analyst will be happy to accommodate whatever they want given you'll now be a client. If it's sellside, however, a lot of analysts take this personally (I know you've never been one, Dick, so no need to comment), so if you leave them high and dry, it compounds. In this situation, I would try to stay on until at least you've helped hire a new associate
I've interviewed for buyside jobs, and they called up an analyst that I worked for five years ago to get their thoughts on me because they respected that analyst. ER is a small industry, so the reputation you have will follow you, so make sure you do what you can to make your egress smooth.
awwwwwww did your analyst quit on you last week?
Its neither sell-side or buy-side, would be leaving the industry and I plan on taking it. No idea how the transition will work, they would have to hire someone within a week for me to be able to train them, or try and get someone from a similar sector to come over internally.
Seriously?
Most banks cut you off right away and how do you train the new associate which may take months to hire..
Agree with the poster above. Do what’s best for you, always. If you can accomplish that while also not screwing over others, then go that route, but if not possible, you gotta do what you gotta do.
No one gives a shit about your career more than you. For all we know, the MD could be jumping ship next month. Just take care of yourself
Do what's best for yourself. I'm in a similar situation and felt that way initially, but at the end of the day these are all large firms that need to have the risk of people leaving built into their business model. Congrats on the better opportunity! DM me if you'd like to discuss.
Do you. Fuck em
Been there! I received an offer early this year for a new job where I was going to learn a lot even though the pay increase was not that big. My team was also short staffed since 2 analysts resigned 1 month before I received the offer. At the end of the day my company increased my pay and I decided to stay in the team. Today, 6 Months later I regret not taking the opportunity, I feel like I'm stucked, and the 2 positions were never filled, so Fuck em!
Damn! Was this for another sell side ER role, buyside, or leaving industry all together?
It was for an equity research role on a newly opened Family Office. The PM was building the team and I was going to be part of it.
If you jump I’m sure your boss will be irritated, however it’s not like you’ll get any kind of special reward for not jumping.
If the job is better I’d do it.
I was in the same position this past winter. My tiny boutique lost about 6 people in the span of a month after bonuses were paid. That amounted to about half the team. I was the last the give notice, but was leaving everyone else pretty stranded. Didn’t care though, fuckem. They aren’t paying you enough to stay so that’s their problem to solve, not yours.
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