Advice: Potentially Going Back to IBD/Elsewhere
As title said, wanted some advice from the forum.
Currently doing PWM/PB at a top shop (GS/JPM/MS). I did an IB internship in college, but it was at a small shop, and the WFH setup during COVID made me not want to go back, so I decided to explore other areas of finance (I wasn't dead set on IBD to begin with either). Liked the client-facing nature of the role, especially after the experience with IB.
Fast forward, I've been in my current job for about 7-8 months, and I really don't like it. It's not just that the role itself is not very interesting, but the business model itself and my team that I have issues with. Basically, teams are "given" permanent analysts based on a certain amount of revenue they make (1 analyst for x million of revenue, 2 analysts if you get y amount), rather than in IB or other departments, where teams have multiple first years. On my current team, I am the only analyst covering six financial advisors. This means that I do not have any other analysts to help with any work that is given, and that all work is given to me which is becoming overwhelming. Two of my financial advisors are also a nightmare to work for, and have had numerous issues keeping analysts (a bunch have quit shortly after being hired by this team). Since my team will not likely cross the next revenue threshold any time soon, this will continue even as I reach my second or third year (i.e. none of the work I do now will ever be able to be "passed on" to a new first year when I become a second year).
Now, I realize that I have not done a full year yet, and that it is a bad job market to be making moves to other departments of finance, but I'm considering using some connections I have in IBD at other firms to try making a move. However, and this might be the silly part, part of me is also somewhat hesitant to do so given the market and given the opportunity to move internally to other parts of a top firm (which has been dangled in front of me before). It's the wrong mentality, but I also don't want to be someone who gives up the opportunity of having my foot in the door at such a prestigious firm.
How would you guys advise on such situation? I know the team structure is way different than many here who are in IB, but I figure there could be good advice here as I know many face similar thoughts of leaving during their first year. Any help is appreciated. Thanks!
Get the offer first, then decide. You're hypothesizing about a scenario that hasn't happened yet.
Do you think leaving after 7-8 months is not looked upon favorably? Obviously, gotta do what you gotta do, but sorta wondering how that would look to other offices
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