I've seen a lot of posts on 1st years who started June 2020 either quitting or lateraling. I'm considering the same at 9 months in, due to a surge of opportunities and the ease of interviewing virtually. Any updates on those who have made the move or considering doing so?
Would love to hear about any 1st years, who have worked entirely virtually, that made the switch.
| +130 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 59 | 2d | |
| +49 | Intern Ettiquette | 14 | 15h | |
| +47 | Ranking banks that went under | 34 | 13h | |
| +39 | Relevance of A-Levels for U.K. London recruiting | 29 | 3m | |
| +39 | Burnt Out M&A ASO | 22 | 1d | |
| +26 | What are hours like at BBs in London? | 48 | 20h | |
| +26 | 2024 new grads who didnt get return offers update | 12 | 23h | |
| +25 | NEED NY RESTAURANT RECOMMENDATIONS | 21 | 1h | |
| +23 | PSA to gymcels: focus on the summer internship | 9 | 1d | |
| +20 | IB Career Guideline | 12 | 3h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Where do you plan on moving to?
Made the move from MM to top BB. Lateral market seems very hot rn as I was in several processes with other firms / groups.
The guy next to me who quit after 6 months left for a VC firm, $200-$400mm AUM. So not exactly the greatest opportunity out there (based on WSO standards) but he seems way happier so more power to him. I'm in the unfortunate position of wanting to leave, but now am 8 months in and really want to get my bonus if I've suffered this long.
BAML LEvFin?
Not OP but what does it matter? Stop trying to DOX the kid...
No, not BAML or a product group.
Same - lateraled from mid BB to top BB. Was involved in a number of processes, seems like it's a really hot lateral market right now. Virtual transition is definitely weird, but also have no basis of comparison. Definitely looking forward to getting back into the office
Have you thought of buyside opportunities? I’m in the situation (in mid BB and offer from top BB) but not sure if to move if I aim for PE
Also - if you SB me, I'm happy to PM you and walk you through my thought process. That or just go off anonymous. Definitely a conflicting situation, but made sense from my personal perspective
Is it worth making that move? Assuming you didn’t intern at the new group aren’t you instantly discounted relative to the class?
Yes - have thought about this extensively. For myself, the process made sense as I was going to a top group at the top BB and given the timeline of the PE cycle, I had some time to get deal experience before it eventually kicks off. That said, you're definitely discounted relative to the class on a standing perspective / bonus side of things, so take those tradeoffs as you will. New bank will pay for lost compensation at old BB due to me losing my bonus at my old shop. Hope this helps!
Been on the desk for 3 months now and have already started applying and interviewing for non-IB jobs. I’m looking to leave the industry entirely and have no interest whatsoever in lateraling. The work’s fine and the pay is obviously good, but the hours are brutal and I now realize I’d rather take a pay cut to have peace of mind that an email won’t come in at 11:00pm or later during the week or that I’ll have my weekend blown up. Some people are able to make that sacrifice, I thought I was one of them, but I’m not ashamed to admit that I’m not. IB is not for everyone, I value my free time, hobbies, and social life too much for this job.
I’m not going to shit on the industry, we all knew this going in, but for some reason undergrads that have never worked a day in their life in IB have perpetuated this “prestigious and glamorous” ideal of what IB is that couldn’t be further from the truth. To any prospects that surf this forum religiously (I was one of you not that long ago), take a minute to reflect on why you actually want to be in IB. Not everyone ends up hating it like me, some people truly love it and make a career out of it, others are neutral and make their way up the ladder until they’re pushed out for being mediocre. I’m not here to dissuade anyone from recruiting for IB, but please consider the mental and physical sacrifices the job demands and evaluate whether the pros outweigh the cons for your specific situation
Hey there, I am almost in the exact same position (started early this year in banking) as you are and have been just truly hating the job - would you mind PM'ing me? Would be great to connect. Thanks
What percentage of analysts that go into BB IBD end up "loving it?" -- Genuine question. I imagine it's around 10%. The rest are doing it for compensation, optionality/exits, and percieved prestige.
Honestly, I have no idea. It probably isn’t obvious until the VP level if someone actually loves the industry or if they’re just doing it for the money. But I would agree with you that it’s only around 10% (if not lower) of analysts that actually love the job and make a career out of it. No matter what level you’re at, there’s a ton of bullshit you have to deal with, so you better love the job if you want to deal with that
I totally understand why some analysts are looking to move rn. Enormous workloads, WFH etc. make the job less and less enjoyable and suddenly the usual perks (brand, experience, money, future opps) do not worth the effort required but ffs you're 3 months in..are you freaking kidding us? It's like quitting an internship length-wise. Don't like the hours, got it. You have to SUCK IT UP b/c you clearly do not understand you've taken the role from someone who would likely be more determined and driven than you. Again, 3 months on the job, doesn't smell like a workload problem. People quitting so fast are defo bad hires regardless of the intensity of your group. I'm honestly shocked that someone didn't see that in you while interviewing and come to think of it..do quit please. Let someone else get your job.
I don't have to suck anything up, that mentality is why IB is becoming so toxic. If you're willing to work inhumane hours for a job that gives 0 fucks about you, all the power to you, but I will not subject my health to this any longer than I need to. It's laughable that you think I took the job from someone else. If the other candidates did better in their interviews or the other interns did better during their internship, they would have gotten the offer over me, but it's not my problem that they didn't. I hope you enjoy the rest of your Analyst stint and whatever you decide to do after (I'm sure you'd make a phenomenal MD that every Analyst would want to work for).
I'll gladly quit and enjoy going out whenever I want without having to worry about getting an email from my MD reprimanding me for a misaligned logo or whatever bullshit comments they have. Like I said, I'm not ashamed to admit this job isn't for me, I have no problem swallowing my pride and admitting I'm wrong, something you seem incapable of doing
No, you don't HAVE to do anything in life and admitting this job is not for you is certainly not a reason to be ashamed. It's just so weird that you thought you wanted to do this 3 months ago and that you did not see any of these signs. Also, IB in the analyst level is not so much about performing, it's more about working the hours. Certainly not your problem that they hired you instead of someone else, but that doesn't make you a less bad hire. Quitting 3 months in means you never tried to understand whether you want to do this job or not which is a known problem of the industry with crazy recruiting timelines etc. and just to close this subject from my side, I know plenty of 9-5 workers who say the exact same thing ''they don't give a shit about us employees''. Anyway, wishing you luck with your future endeavours.
What a shitty and terrible take. Truly hope you are some prospect and not an actual analyst on the job. Would be insane to find out that a bank could hire you without seeing these terrible signs in you..
This is such a bad take lol. I think at some point in the past, people were taught that Grit is honorable or something, but there is no honor in being an investment banking analyst. We are literally the toilet water of the financial industry, the lowest of the low. Like there is probably pond scum that outranks us. Putting in the hours or "getting it" or whatever other non-sense you are spouting doesn't mean anything other than you are willing to trade-away your personal life for marginally more money than your peers.
People need to make personal decisions based on the trade-offs that they find to be meaningful. The job / "track" does not get better at all. It probably gets worse until maybe you are a Director, most VPs seem perpetually stressed. PE is really stressful too, the lateral market for PE is on fire right now, think there was an article recently about 7 people leaving Apollo in the last 3 months and this is also happening at the "better" PE firms too.
Hot lateral market right now. Big chance to build your brand if you’re at a tier 2/3/4 shop. I’d do it
Expedita et quaerat quam eos ab asperiores impedit. Tempore officiis magnam illo dolor odio. Dicta dicta quo velit soluta. Assumenda odio soluta ratione suscipit beatae. Blanditiis aut dolores qui fugit voluptatem quisquam minima unde.
Dolorem explicabo a harum nesciunt autem quidem ut itaque. Labore necessitatibus ea consequatur quo debitis. Consequuntur mollitia et ut voluptatem ipsa excepturi alias amet. Sed sed ratione numquam sed assumenda illum ut voluptatem.
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...
Aut aspernatur omnis exercitationem ipsam et quae officiis molestias. Provident quas similique doloribus aut repellat tempora. Delectus maiores optio sunt et expedita. Minima hic amet eaque sed ipsam. Minus iusto et in repellat nihil.
Illum voluptatibus architecto hic qui dolore impedit est. Sunt qui aut hic sed. Est sit rerum autem deleniti qui itaque aliquam.
In reprehenderit omnis explicabo et. Omnis voluptatem quibusdam sit. Natus sint et aut autem labore voluptatem dolor sed. Quis exercitationem ex asperiores neque unde. Aliquam voluptatem velit doloremque illo. Enim impedit omnis blanditiis repellat quia et. Nobis praesentium sint quia aliquam.
Perspiciatis amet provident repellat consectetur. Libero deleniti in sit possimus quia hic. Accusantium doloribus reprehenderit non culpa eveniet. Nihil cum et repellendus incidunt magni ratione fugit laudantium. Molestias nihil placeat ab. Aut impedit ut error rerum.