2 Weeks Notice
I am getting ready to hand in my resignation. No one has left my group since I joined - do all large banks make you leave immediately or do some make you work the two weeks? What’s the policy at your bank?
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Read your contract. 2 weeks notice is a formality. There is no such thing as a 2 week notice as you understand it. You can quit today and never come back. 2 weeks is what people say is a standard period from telling your employer you are leaving to when you actually leave.
Depends on where you are, how big your team is, and if you have a good relationship with your manager, MD, and those above you. Some may be okay with it, but others will just have you escorted out. Before you hand in your resignation, put together a transition plan in order to make sure that everything you are doing is documented so whoever picks up your slack can jump in without any problems. Even if they tell you to pack your shit up, having that done, so you can hand everything off will help make sure you don't burn bridges and show that, even when leaving, you're a "team player". It's small things like that which leave a good impression.
Do you recommend telling my staffer first then sending a formal email or send email first and offer a call to go over a transition plan?
What I did when I left my last job was have everything prepared first because you don't know what the immediate reaction is going to be. When I drafted my letter of resignation, I said something to the effect of:
I would advise against telling your staffer first because you don't know if your staffer will just go right to HR or your manager and see you get terminated faster. I would approach your manager first and explicitly state that you have drafted a transition plan in order to ensure that everything is taken care of properly and even offer to stay during the next two weeks to help with it. I would attach the transition plan to the email as well and make sure to CC your personal email on the resignation letter. That's more for proof in case anything bites you in the ass. I would also explicitly ask about looping in your staffer in order to help facilitate this. Pursuant to your manager's decision, I would reach out to the staffer, inform the staffer you are leaving and that you have put this plan together. To clarify here, for continuity purposes, if the manager terminates your employment immediately, I would email your staffer from your personal email, CC your manager in order to keep continuity, let him know that you are leaving and have been terminated, that you are enclosing a transition plan, and would be willing to schedule a time to discuss it in order to provide clarity if needed. If your manager lets you stay on, it's the same thing, but you don't need to say that you're terminated - just say that your last day will be whatever it is, and offer to help in any way you can to ensure a smooth transition.
Bump
Depends on where you are leaving to. Another bank? Gone that afternoon. Buyside or corporate? Probably will be kept on for 1-2 weeks.
do you think if you're going to an investing role at another bank (say lazard or gs's PE arm, etc) this would be counted as a bank or buyside?
Bank.
Do all major banks do that?
I can't speak for every bank but that is generally how it is done.
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