3 Months in and entire Junior Team Quit Rant
Just venting here.
I hit the desk ~3 months ago and since then both associates and the senior analyst on my vertical have quit. Every single person on the team I interned with (~15 people) has left the firm.
The team has hired a new associate but they has 0 experience in the industry and don’t quite “get it” (They are a month in and still asking me where to find logos, how to build pie charts, and how to add rows/columns in excel). I get that they are an associate and don’t have to do analyst bitch work but they also don’t have a good enough grasp on the industry to bring in any ideas on how to execute anything or shell out any and any clarifying questions I ask get answered with a “you know more than me so just do your best.” and it ends up with me getting reamed by my vp and director on a weekly basis.
They are so behind (on what, I don’t know as I’m doing 95% of the work) that it leads to me getting jammed on a nightly basis by things that I could have been doing during the day. For example, senior bankers will send them an email on Monday morning asking for certain pages by Wednesday morning and they respond saying they will work with me and don’t have any questions. I get forwarded the email Tuesday night and they call me and tell me they don’t know how to do it but told the senior bankers it will be done and my entire night gets blown up. I then get pinged in the team group chat every 20-30 minutes asking how the pages are coming by my associate and the seniors love the associate because she is so good at communication. I send the deck Wednesday morning to the associate and let them know it’s ready for review (and I ping them too in our so the message doesn’t get lost and mention it on a call that I sent them). Wednesday afternoon my associate calls me and asks where the pages and I’m like wtf??? 10 minutes later my vp pings and asks where the pages are and I just send them to him and cc said associate.
They also work in a different office which I think adds to my frustration.
Thanks for listening to my rant. Any advice on what I can do in the meantime while I send out my resume and interview would be greatly appreciated. I’ve tried bringing up this issue with my vp but I don’t think he understands the extent of it and says that when said associate gets up to speed we will both have a lot less work. I don’t have time to wait for them to get up to speed, it’s been a month and the associate is still asking me what GS and JPM stand for and while I’m still very need to the industry and have a lot to learn, I really need some structure and someone to show me the ropes because after all, I’m just a first year analyst.
So are you guys hiring?
Yes, I can pm you the firm name
Please PM! Not looking but curious which shit firm this is.
Bruh people on here want to work at this firm even after everyone there just quit for a reason? Why not go work for a firm that isnt shit?
I mean this really is how it is sometimes. Also you have to realize that getting your foot in the door and killing yourself is sometimes 100x better than working a average job that won't help you achieve your goals.
It was an A2A associate who couldn't figure out how to add a row. Great question, MBA.
Hey bud, no need to be sorry. I posted a similar thing here called "Bad team culture: a vent".
HIGHLY suggest you LATERAL either in banking or out ASAP. You and I are in similar spots. Both your and my associates appear to be smooth-talking idiots who literally cannot get shit done. In my case the VP is too but that's not important.
Beware that you might encounter this at plenty of places. It's a common thing. Shitheads who pretend they are good at what they do sometimes do get their way.
As plenty have said here. IB attracts a lot of "look-good-on-paper" people coming from brand name schools and high GPAs. Remember the old saying that the education system is a failure because students are not prepared for the society? Well to a certain extent this is true, especially when the founding father of the IB industry is called Turnde Comments. Turning comments is essentially one of the most inefficient things in this world.
On talking to senior people, a.k.a your MD, no your VP doesn't count because s/he needs to think about his/her political capital in the team, the same does not hold true for an MD, at least to a much less extent:
I talked to my MD most recently, a typical year-end review talk, and he decided to promote me to Associate. Mind you, at my current bank --- I prefer to remain anonymous --- Associates probably get underpaid hugely compared to EB or even BB analyst pay.
Compensation aside, I spoke with my MD about the Associate, how incapable she is and how she deliberately tried to sabotage other people's reputation --- being a two-faced bitch --- and take credit from people. My MD responded by saying, taking credit is common in professional services, and somehow he needs this Associate's family connections for potential deals. I get it, connections & resources are important because that is what we rely on.
On the other hand, he sent a clear signal: from my personal growth perspective, this is NOT the place to be long-term.
Don't hesitate to do the right thing, despite the hesitance.
Judging by some of the earlier comments it looks like you might be able to replace the entire team that quit
change your email title in your signature to "VP"
if no one says anything, congrats, you self promoted yourself to VP from analyst
who knows maybe one of the MDs find it balsy enuogh
go big or go home
you have no one left on your team, so might as well fuck around