5/29/11

Hypothetically, let's say that someone quit their first real job out of college after one year? Would potential (second) employers look down on this? Does the reason matter? If I did something like this, it would be strictly for location reasons. The city I'm currently living in, I'm not a huge fan of. It's in the Midwest, and ideally I'd get back to the West Coast within a few years. The longer you stay in a place, the easier it is to get stuck there, so if I want to move back it's probably easier to do it sooner as opposed to later. But, I don't want to hurt myself career wise.

Apply to Top Wall St. Jobs

Comments (37)

5/29/11

No, just explain you had to seize opportunities in your best interest. Explain how you genuinely weren't satisfied at you previous position and whatever cirumstances led you to your choice

The WSO Advantage - Land Your Dream Job

Financial Modeling Training

IB Templates, M&A, LBO, Valuation.

Wall St. Interview Secrets Revealed

30,000+ sold & REAL questions.

Resume Help from Finance Pros

Land More Interviews.

Find Your Mentor

Realistic Mock Interviews.

5/29/11

I'm kinda sorta pondering the same situation - I would not leave unless I had an offer elsewhere. And better hope you stay at job #2 until at least one increase in title.

Still not sure if I want to spend the next 30+ years grinding away in corporate finance and the WSO dream chase or look to have enough passive income to live simply and work minimally.

5/29/11

It looks bad.

Stick it out 18 months; ideally for two years. Otherwise, it looks like you got fired.

5/30/11
IlliniProgrammer:

It looks bad.

Stick it out 18 months; ideally for two years. Otherwise, it looks like you got fired.

Depends on if you can adequately explain the circumstances and also make an upward career move. I found in my own search that many employers are understanding of this, especially if you accepted a position during the recession. Having said that, where ever you find yourself next, you need to be able to commit for 18 months - 2 years or at least a promotion.

5/30/11
Valens:

Depends on if you can adequately explain the circumstances and also make an upward career move. I found in my own search that many employers are understanding of this, especially if you accepted a position during the recession. Having said that, where ever you find yourself next, you need to be able to commit for 18 months - 2 years or at least a promotion.

Still disagree. I know that loyalty is dead in the current economy, but you do owe your first employer 18 months if things are going well. That's how long it typically takes for them just to make their money back after training you. Maybe not all generation Y doesn't take karma into account in their hiring decisions, but the baby boomers sure do.

Finally, of course, if I'm helping with a hiring decision, twelve months means I can't really take that work experience into account. It doesn't really tell me that you're not a screwup. 18 months gives me more info; 24 months is really what it takes. So if I'm looking at one candidate with 12 months of experience at Goldman prop trading and another with 24 months as a broker at Scottrade, the kid from Scottrade is actually going to be the winner at least on experience, all other things being equal. Not because he has more prestige, but because I at least know that a manager at Scottrade is OK with this guy's work. I also know he's not going to leave after 12 months.

Getting an amazing job offer may be a good excuse for a third employer. It might not. What I can say is that your second employer won't really be able to take your first job into consideration for your second job and that puts you at a serious disadvantage. It also looks bad to some hiring managers on the team player and loyalty fronts.

Best Response
5/30/11

I agree with IlliniProgrammer, one year does look bad, especially if its your first year out of school. Even if you come up with a good excuse, people will still question if you're telling the truth. If you don't have an immediate need to leave (family issues, health issues, etc.), then I highly recommend sticking it out an extra six months.

I know someone that left his BO tech job for another BO tech job after one year out of school. His boss was quite upset and said that he should never bother looking for a reference. The world is extremely small and you should never burn any bridges if you can avoid it.

CompBanker

5/30/11

I left my first FT job after a few months because I got a 40% salary bump from my new company that poached me out. People on WSO unanimously told me to take it and not worry about the short tenure at my first firm.

-MBP

5/30/11

If its purely location I would try to stick it out (obviously easier said than done), if it was for a better position (MM-->BB) there's no reason you shouldn't take it. It will be obvious on your resume that you didn't get fired from the MM.

5/30/11

I'm in the process right now. I graduated in August 2010 after all the BB analyst classes have already started, so I had to wait until the next recruiting class to apply. So I accepted a position in corporate strategy for a fairly big retail bank knowing damn well if i got into a wall street bank I would be leaving.

Well I did get an offer and accepted in January, but i didn't tell them I was resigning until last week. I worked for 2 diff managers (2 diff groups) during my time there. My 1st mgr who hired me was GREAT, she thought I was a god send, fresh new college grad with new ideas and new skill set. She and her boss (senior vp) would do anything to make sure I would succeed there. Half way through they asked me if I wanted to accept a position in another group for some time so I can become knowledgable in diff areas of the bank. My new mgr was a dick! He was stupid, had no power, and thought since I was a new grad i wasn't smart enough to do certain thing.

Well to make a long story short, It was very hard to break it to the managers I loved. I actually kinda lied and said I was moving to NYC because i hate driving and miss my family. So they understood and said it would be a great opportunity for me, and that after I learn the skills from my new job i was welcome back anytime! To the manager I hated I just told him i'm leaving, and he's trying his best to make my last 2 weeks miserable. I'm literally printing and sorting thousand of paper. I was there a little less than a year.

You give me a gift? BAM Thank you note! You invite me somewhere? POW RSVP! You do me a favor? WHAM Favor returned! Do not test my politeness.

5/30/11

I did ops for about 5 months before quitting. As long as you have another offer it doesn't matter. Just be honest when you interview. I always ask a lot of questions to make sure the company is a right fit for me. No sense taking a job that doesn't work with your expectations or personality.

As far as a boss being a dick to you because your leaving. Well my ops boss tried that and my 3 week notice to him became 1 week and a trip to Florida. You gave notice and were professional. Zero reason for him to be an asshole about things.

The WSO Advantage - Land Your Dream Job

Financial Modeling Training

IB Templates, M&A, LBO, Valuation.

Wall St. Interview Secrets Revealed

30,000+ sold & REAL questions.

Resume Help from Finance Pros

Land More Interviews.

Find Your Mentor

Realistic Mock Interviews.

5/30/11

The only reason I have just said F this and quit is because I have too much respect for my previous manager. I don't want to look bad to her.

You give me a gift? BAM Thank you note! You invite me somewhere? POW RSVP! You do me a favor? WHAM Favor returned! Do not test my politeness.

3/1/15

Let me put it this way: I know a guy who within a year of finishing grad school is now on his 3rd job. I don't know exactly what happened, but it seems to me that he made a conscious decision to leave each one. Obviously this looks bad, but not bad enough that he didn't get hired at the last place.

So: it's definitely not best practice, but it seems entirely possible to do without it *really* hurting you.

"There's nothing you can do if you're too scared to try." - Nickel Creek

3/1/15

It's definitely not rare for analysts to leave after 6 months - not to sure another opp, but just to get the hell out. The next wave is usually after year 1 bonuses to pursue an opportunity with a small shop elsewhere. This is usually a decent size group, but the biggest group departs after year 2 bonuses - usually the analyst begins to really mentally check out after the 1.5-year mark (doesn't mean they work less, just know what is on the horizon), once the next opportunity is locked up - generally a P/E or other buyside/corp gig, and then leaves after 2nd year bonuses. Regarding specific figures, that definitely varies from bank to bank, and, honestly, group to group. Suffice it to say that the number leave after year 1 is definitely less than the number of analysts leaving after year 2, but is definitely not a rare occurrence either.

3/1/15

Thanks for the info - yea I figure it's more group related. My firm is significantly smaller, so the numbers don't really help.

Thanks

3/1/15

bump

3/1/15

Bump--follow up question--

How hard is it to get into PE after only one year?

3/1/15

why did you make this thread?

are you real life?

Man cannot remake himself without suffering, for he is both the marble and the sculptor. -Dr. Alexis Carrel

3/1/15

leaving during 2nd year

3/1/15

You don't want to burn any bridges

XX

3/1/15

2nd or 3rd year. you want to have at least a reference/recommendation from your MM PE gig

3/1/15

sure why not. if you signed the contract and talked with the pe

3/1/15

Yes, there are sometimes people who go to HFs or whatever after only 1 year. I don't know if it's recommended, though...

3/1/15

One of the better 1st year analysts left after a year to join a prop desk at a diff BB

3/1/15

What sort of prop desk?

3/1/15

Ever read Monkey Business?

You talking about the analyst of the associate level?

3/1/15

im thinking analyst.

3/1/15

I know three who did it. They went to top PE firms. It is possible and is a good out in this market. More money with a better life style.

**they were first yearish analysts. One got the job pre bonus payout, left after bonus and the other two got it around last October (about 2 or 3 months into the second year).

3/1/15

it was a statistical arbitrage prop trading desk

3/1/15

Was he in IBD, not S/T, before he jumped to that desk?

3/1/15

I guess this kid realized he did not like IBD and wanted something a little more quantitative.

3/1/15

i know ppl who left to do entirerly different things...like going to grad school, other careers...

3/1/15

do resignations count because they don't like the job?

3/1/15
3/1/15
Add a Comment
WallStreet Prep Master Financial Modeling