Inferior Group Placement: What To Do?

1) Be happy you have a job and you aren't getting your offer rescinded.

2) Why do you seemingly hate this particular group? is it the people? If it's the product/industry, give it a chance...you might grow to like it. I'm sure someone else can offer insight if the problem is that you can't stand the people.

3)I wouldnt angle for another job right now (if that's what you meant). And, i think your options on the analyst are limited. You have no real skillset that would be beneficial in another job and I wouldn't leave your offer on the table if the only reason is because of group placement. I think the best idea would be to stay at least 6 months to a year, build a good foundation in terms of technical skills and maybe either try internally moving to another group or maybe lateral to another bank.

My issue is a combination of the people and the industry. In short, I got my least desirable choice. Are internal moves particularly feasible in this market?

just a matter of how good you are at selling yourself; i know ppl who have switched regardless of conditions, etc

my recommendation would be to always stay on the lookout for another job; it can never hurt right, as long as you are disciplined about it. but in the meanwhile, start at this bank if you have to, and be really nice to everyone, your group, go out of your way to make friends with HR, network with other groups and just make people aware that you want to move, not because you dislike the group, but because your future plans are not in line with the skillset you will gain in the group you are in. be low key about it, but also remember, no one really cares if you want to switch groups, as long as you do a good job for the people you are working for at the time; i know i wouldn't give a hoot, i mean why would i? that would just be malicious of me for no reason.

Honestly, in this market, I would just suck it up. I didn't get the least desirable group a couple years back, but I did end up somewhere I didn't want to be (2nd- and 3rd-years working consistent 120s, very uneven staffing, weird politics). I think if I had made any noise about it, I would have been frowned upon.

There are some groups where there is no such thing as "doing a good job" as a first-year analyst. It's practically binomial: it's either "I haven't seen enough to know how good he is," or "We need to hurry up and fire that guy." I think someone who comes in complaining (even subtly, even with good reason) is going to get squished. Malice doesn't even come into it; it's simple expedience. If someone isn't 100% thrilled and happy to be there, if he's shopping for a job in a different group or bank, get him out and bring in the next guy in line. Even if they don't go that far: it will almost certainly affect your bonus. I don't personally know of anyone who got top bonus without doing a decent amount of grinning and drinking of Kool-Aid. And people who openly look for different positions (whether it's at the bank next door or one floor down) tend to get smacked down in one way or another.

Not all groups are like this, of course. If you're at a small firm, a non-traditional firm, or a small group, you may have a better shot at getting what you want. The conservative move, however and the one I recommend, is to suck it up nonetheless. Not only will your job be a lot safer, you'll be in good company. Let me tell you: we aren't all out here working in a recession with our banks closing down around our ears and still trying to find the ultimate job that will fulfill us and make us happy. Sometimes you gotta love the one you're with.

Assuming you haven't started yet, then you really have very little idea what you are talking about. Personally I was placed in my last choice, in a weird industry, with (what I thought at the time) shit people. However, I made some lemonade, worked hard, learned, found the people weren't so bad and leveraged it into a decent exit opp (albiet after a year).

The best way to keep all your options open is to work hard, talk to senior people, and make yourself into a top analyst at WHATEVER YOU DO. Otherwise, you'll end up with everyone thinking you are the worst analyst who they couldn't sell to another group. Wait until you actually have done some work in the group to make these decisions.

Unless its ECM, then you are just screwed.

"Unless its ECM, then you are just screwed."

Would you mind clarifying what you mean with this sentence?

I have to disagree with this. I don't think you should make it known to your group that you are looking to move, especially before you even give the group a chance. It seems like your mind is made up for you already, and that's an attitude that you have to be careful doesn't show through in your work. People definitely DO care if you want to switch groups, I had a personal experience where after a deal I did the Sponsors group was actively recruiting me to their group and went over my head to proactively talk to my group head about it - people were very unhappy, and rightfully so. If you're a good worker, people definitely want to keep you in the group - it's a pain in the ass to have to replace an analyst that you know is good, and there's never a seamless transition.

So, I was wondering if anyone would comment on that, obviously no one actually in the business would. Its a semi-joke with regards to the work, exit opps, and general quality of ECM. As a broad generalization, ECM analysts are completely worthless, do no work, hate their lives and can't get a job in PE. In addition, the hedgies would kind of rather you actually did S&T as opposed the hybrid role of producing daily market updates, shareholder runs, and printing out documents for more senior people.

Obviously anyone who reads this can disagree, I don't really care, it was one of those snide remarks that is fun to work into generally helpful posts.

Well said PowerMonkey. Don't think you'll find too many that disagree. Even more funny once you realize how often the "unless you work in ECM" comment is dropped.

I have to agree. I know a few kids who truly wanted to stay in banking (or maybe couldn't find anything better) and didn't get third year offers from their industry groups, so they hopped to ECM.

Generally the work being done out of the ECM group was terrible and the analysts were gone by 7PM. So if you needed backup for a graph or excel chart to reformat (almost every time), you had to call down there before everyone left or you were screwed for the night.

What about DCM? I know it's not incredibly prestigious, either...