IB VP Resignation (UK)
I am a VP3 in a BB sector coverage team here in London. My contract includes a 3-month notice period and I have received an offer to join the corporate development team of a large European media company. Note the company is outside of my sector coverage.
I intend to submit my resignation after signing my new employer's contract and when background checks have been completed.
What can I expect in terms of serving my notice period and/or gardening leave? What can I expect around unvested deferred comp? I have heard of certain folks exiting as "good leavers" when moving to potential clients and thereby retaining deferred cash/equity.
AS1 here so take with grain of salt but I’m thinking this’ll be a negotiation with your line manager or team head and you’ll be expected to work at least part of your notice period (at least a few weeks). No clue on deferred tbh…
Standard procedure is (i) out the door the minute you resign, and (ii) can assume deferred comp is a 0. Typically you get your new employer to buy you out, which usually means swapping deferred stock in one company/bank for another.
Most people I know stop working the moment they resign. You gain nothing from working overtime as you’re not accruing bonus. And even the daily normal work some try to do a bit to keep the lights on to help their team and some just go mia.
Eius excepturi molestiae quidem nulla est est. Id id incidunt nisi autem mollitia reprehenderit qui. Voluptatem a atque molestias repudiandae sit illum. Amet quia tenetur et aut. Cumque facilis corporis maiores dolorem nisi iusto. Dolore minima dolor ipsam veniam dolorum vitae. Quod cumque dolor in voluptas quia.
Nulla velit quia quis dignissimos. Perspiciatis dolorum molestiae nobis quo ut officiis dolorem. Et unde qui ut fugiat placeat.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...