At an odd career crossroad. Need advice
Recently accepted a new FO job and left a Consulting role where I had a lot of goodwill. The reasoning for the FO switch was 1) level of seniority, 2) type of work and team are very strong and 3) did my HW and pretty much validated 90% of what I was told.
For the first 4-5 weeks everything was great, but we recently had significant attrition and—coupled with the market backdrop—the role has fundamentally changed. 1) type of work is shifting, 2) we need to spend our time across multiple product and industry groups (eg reporting to multiple bosses), 3) we’re acting more as brokers than bankers now (mass calls to investors for capital and taking placement fees over structuring/leading an investment) and 4) huge push for 5 days a week in office or traveling to clients constantly to reassure them of our commitment to them (I don’t mind this, but the role was pitched as 3 days in office max and the juniors to seniors confirmed this). I’d note that the floor we work on has had like 5 COVID exposure scares since I joined. Team members who’ve been there for a while tell me this is the most that’s happened and it all started when we got the unofficial (read: recommended) notice that FO should be in 5 days a week.
Basically, I feel as if I’ve been re-traded on terms. I know jobs can change, but these changes are mostly fundamental/material that I would have taken into serious consideration had I had known beforehand.
I’ve been here all but 2-3 months, but I’m wondering if I should just quit and look for something else, stick it out or—and not what I want to do—go back to my old job (which would be a disaster to my reputation/career prospects there).
Anyone else encounter this?
You should give rough details on what level of bank and consulting firm you’ve worked at.
it doesn’t sound like you’re at a BB/EB or reputable MM group. Consulting eagerness to leave implies it wasn’t tier 1 or possibly even tier 2
It’s a BB. I know. Shocks me too
Is talking to someone internally not an option? Why do you view leaving as your only option?
Because I’ve only been here for a minute, any conversation will likely fall on deaf ears. Tried circling with a couple SVP/Director level folks and didn’t have meaningful conversations/outcomes even though I provided realistic options forward that would minimize business impact. Figure any conversation with an MD would go even worse.
First of all, if you use phrases like "for a minute" then yes, you should move on. It's better for both of you.
Second, there's professional ways to handle something like that. What does your offer letter say? What can you tie back to your recruitment that supports you? You did get this in writing, didn't you? If you can't stand on consensus then you can attempt to stand on facts based on what they committed to you in that process.
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