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How many of you always feel on the verge of being fired?
 

JJP1234's picture
RE
 
Points)
 on 10/3/11 at 12:36pm

I am not talking about working at MS or something, because we all know the chances of out-right being fired there are fairly slim.

But what about those of us who come from non-targets with limited backgrounds and work at true boutiques?

By boutique I mean far from NY, $5-50M deals, hires 3-4 analysts (most from out of state) and has fairly decent local reputation.

I have been in for a few weeks and continue to learn a lot. I cannot help but to feel that when I take too long to do something (mostly because I am learning new models) or input a wrong date or something that my job is on the line.

I am just wondering if it is me or if other people constantly feel like they are on the verge of being fired.

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IlliniProgrammer's picture

This was a common feeling for

ST
(Almost Human, 9,244
 
Points)
 on 10/3/11 at 12:57pm

This was a common feeling for me for my first two years, especially my first couple months. I mean there is always that risk, especially in a long-term secular bear, but that is why you save money like crazy.

As a junior employee, you are probably a fairly good deal relative to the guys earning 2-3x as much as you. It's just important that people see your work as generally high quality and that you do produce something. As long as you're in that camp and you're cheap, you have a dramatically lower risk of losing your job. Ironically, the folks less concerned about getting laid off- the ones with 5-10 years of experience and clocking bigger pay- are the ones who have the highest risk of getting culled.

TIP: Don't plan on having kids while working in this industry until you own your home outright and have the ability to cut back to 60 hours/week.

Work hard, play hard.

Flake's picture

I'm also paranoid. I'm about

ER
(Neanderthal, 3,597
 
Points)
 on 10/3/11 at 1:03pm

I'm also paranoid. I'm about 10-11 months in and I don't make mistakes often...but when I do something stupid, I feel like my analyst is disappointed and he's going to ask for a new associate lol.

That feeling is slowly going away but it's still there. There is one thing that makes me feel better, and that's the fact that analysts hate training new associates and having to waste months on getting you up to speed. So unless you're making excessive mistakes, I wouldn't worry (given that your shop isn't going to do lay offs or close down).

Also, I liked what Illini said.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

Nobama88's picture

I used to always feel like I

RE
(King Kong, 1,676
 
Points)
 on 10/3/11 at 1:15pm

I used to always feel like I was on the verge of getting canned. I think when you are new in any job or industry, you are putting pressure on yourself to perform at a level you THINK those around you expect of you. So, when you fuck up, you get into your head that you have to be doing a lot worse then everyone else when they first started.

I think this will go away once you are familiar with the the work you are doing and the people in the office. You will finally realize that you were worried about stupid shit for nothing.

Need to Land a Job? Click Here.

Vancouver Canucks 2011's picture

I think most bankers can

IB
(Orangutan, 305
 
Points)
 on 10/3/11 at 1:22pm

I think most bankers can relate to this feeling and people in investment banking tend to be a little neurotic, overly-competitive, never satisfied and always a little in fear. Honestly, banks try to attract and promote this type of personality... If you observe senior bankers a lot, they exemplify this trait the most...

Conceptually, bankers are salesmen who generate fees on the deals they broker. So you actually should prefer bankers who are toned-down versions of Patrick Bateman (i.e. American Psycho's business card scene) - always competitive and afraid to be outdone by his peers... The positive of this is that bankers are always hungry and competing for deals. Their fortune and fame are intricately connected to the last deal they bring in so if you don't bring in fees, you will be gone... This is the culture: you can never be satisfied and you must always be fighting for the next deal...

darkmagician383's picture

I felt the same way when I

IB
 
Points)
 on 10/3/11 at 1:31pm

I felt the same way when I started if my senior caught an error, and still do sometimes when the deal flow slows down. The feeling tends to go away as you become more confident about your work product and start realizing what to keep an eye on.

Try to triple check your models and avoid making the same mistake twice.

JJP1234's picture

Thanks everyone. As sad as it

RE
 
Points)
 on 10/3/11 at 2:00pm

Thanks everyone. As sad as it may sound, these responses made my day. I was starting to think I had some sort of personality disorder or something because i am pretty sure I make up 99% of it.

Vancouver Canucks 2011's picture

JJP1234 wrote: Thanks

IB
(Orangutan, 305
 
Points)
 on 10/3/11 at 2:31pm
JJP1234:

Thanks everyone. As sad as it may sound, these responses made my day. I was starting to think I had some sort of personality disorder or something because i am pretty sure I make up 99% of it.

You probably do have a personality disorder compared to the average person but this is also the type of personality that investment bankers love. Imo, a great analyst always has that certain insecurity and anxiety in him/her so that he/she is always going to triple check to eliminate mistakes and looking to improve to stay above the rest of the class...

I will always prefer the worried and self-conscious analyst over the confident one. The former will always be worried of mistakes and still triple-check work at 6:00 am whereas the latter will most likely piss someone off at some point...

UFOinsider's picture

Agree with Illini, it does

O
(Human, 10,349
 
Points)
 on 10/3/11 at 2:49pm

Agree with Illini, it does get a little better as time goes on. Sometimes, when it's crazy busy, I do worry. The best thing is to always be looking around for possible exit ops / laterals so that if it's apparent you might get axed, you can jump ship with minimal pain.

This industry isn't about security. Personally, I like trying to outdo myself and push harder to do better, but mistakes are still pretty painful. Most of the time, you really have to f*** up royally to get canned, and as long as you recover from mistakes gracefully you'll be ok......just don't make them again.

Anyone can get blindsided and make a mistake and the senior guys know this. Just keep improving and keep your options open.

YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...

yellowpunch's picture

Guys, similar question - I

 
Points)
 on 10/3/11 at 3:24pm

Guys, similar question - I still have that feeling and it doesn't feel great to be honest... I'm pushing myself toward the limit every time I'm doing some work for the team, and if I continue doing this it will slowly build up inside until I eventually burn out.

The fact is, I think this is really the maximum a junior can do on my desk given the time and effort one can reasonably put into, and I don't complain about them at all. But the team is still not satisfied. Like, they are calling for a ridiculous time schedule for my future projects. What's wrong in here?

UFOinsider's picture

yellowpunch wrote: I'm

O
(Human, 10,349
 
Points)
 on 10/3/11 at 3:51pm
yellowpunch:

I'm pushing myself toward the limit every time I'm doing some work for the team, and if I continue doing this it will slowly build up inside until I eventually burn out.

Maybe. You also might build up your ability, not unlike lifting weights. When you first start, benching half of your body weight is tough, and then you keep going, keep pushing, and next thing you know you're lifting stuff heavier than you are......same principle.

Just get sleep whenever you can and keep your mind sharp. Keep the drinking to a minimum, eat good food, excercise when you can, hang out with people that you like when you can. You'll get better at this.

YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...

jack_donaghy's picture

JJP1234 wrote: Thanks

IB
 
Points)
 on 10/3/11 at 4:18pm
JJP1234:

Thanks everyone. As sad as it may sound, these responses made my day. I was starting to think I had some sort of personality disorder or something because i am pretty sure I make up 99% of it.

Agreed!

Working9-5's picture

I remember back when I worked

ST
(Gorilla, 613
 
Points)
 on 10/3/11 at 5:09pm

I remember back when I worked part time. I was on a three month rolling contract and was always pissing myself if the MD found a mistake I had made. Not having the job security made me into a better employee, because I double checked, triple checked and learned much more than I had too. Took me a full year to relax a bit, but looking back it was all worth the pain and anxiety.

Don't worry, be happy.

CNBC sucks

"This financial crisis is worse than a divorce. I've lost all my money, but the wife is still here." - Client after getting blown up

JJP1234's picture

A rolling 3 month contract?

RE
 
Points)
 on 10/3/11 at 5:43pm

A rolling 3 month contract? F-me. That is crazy stressful.

Working9-5's picture

JJP1234 wrote: A rolling 3

ST
(Gorilla, 613
 
Points)
 on 10/3/11 at 5:50pm
JJP1234:

A rolling 3 month contract? F-me. That is crazy stressful.

Started in the fall of '08. I was just glad I got the experience and insight.

CNBC sucks

"This financial crisis is worse than a divorce. I've lost all my money, but the wife is still here." - Client after getting blown up

Argonaut's picture

I am more worried that the

(King Kong, 1,762
 
Points)
 on 7/3/12 at 11:02am

I am more worried that the other people will drop the ball and the firm won't be able to properly monetize the value I created (and in turn underwhelm me at bonus time).

Thus far I've heard "don't work that hard" rather than "yeah, I'm gonna need you to go ahead and come in on Saturday, too. Mmmkay? I need those TPS reports... ASAP" lol

More is good, all is better

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