Exits as AN1?
Currently an AN1 at a boutique IB based in a T2 city. Born and raised in a T1 city and have been looking for ways to get back ASAP since starting in July. The team is great and the work is interesting, but apart from some personal circumstances I haven’t been as happy as I am back in my home city (evident this thanksgiving). Anyone gone through something similar or have recommendations on finding IB roles and potentially even working at something like a startup ASAP? Thanks!
Quitting with less than 1 year on the job is likely to leave you in a worse position than you had before you took this role. Plan accordingly.
What is the threat here? Are people threatening to fire you? Do you just want to quit? Why? If you’re so sure you want to quit, are you sure this is the right industry for you? Wouldn’t you be in a better spot to recruit for a startup after a two-year program? If you’re unhappy, what can be made better? Is there a way you can improve your routine? Is there an additional project or hobby you could take on to feel better? Can you tactically use vacation to recharge? Do you need additional support from family, friends, a mentor, a coach, or a therapist?
There are two prayers you can pray:
1: “Lord, take this cup away from me.”
2. “Lord, grant me stronger shoulders to bear this burden.”
Does this also apply to lateraling or going for another FO role?
Yes. Think about things from the other person's perspective:
"This guy lasted like 6 months at the other firm doing basically the same thing I would want him to do. Why is he going to stick around any longer with me and give me a return on my investment? Does he really hate the other city that much?"
This thought process is going to eliminate a lot of your opportunities, so the way to mitigate that is by showing some durability in your current role.
Ignore my title - I left my job 6 months into it for a better buyside seat and have many friends who have left before the 1 year mark to buyside seats. Going from SS to BS after less than a year has seemed to have been fine in mine and my friends' case (learning the ropes and making mistakes before it matters), but I would not go from SS firm to SS firm after less than 1 year.
Unemployment.
Feel as if 1.5-2 years is the minimum to get an upgrade out of IB. Did you check out imagine dragon for their data on this
So I was in this exact situation a half decade back when I was an analyst. T2 city, great bank (UMM) that did interesting work, but I wasn't in the city I wanted.
I lucked out in one sense because an analyst role opened up *at my bank* and I moved out there in Jan of my first year (~6 months after starting). This was a fine outcome, but the mistake that I made was then only stayed there for about 9 months after that (~15 months total at the firm) before leaving for a startup. I worked in startups for 4-5 years before clawing my way back into the deal world last year (now I'm back in the sell-side at a LMM boutique.
At the time (~6 month mark into analyst stint) I also explored lateralling to another analyst role at a different bank. I had connections still from internship recruiting and it seemed like a very possible path. Someone else from my class successfully did that: ~12 months at the same bank as me, transferred and did another ~18 months at another strong IB in a different city, and since then moved to the buyside and has gone through two promotions in about four years (to Sr. Associate, then to VP).
Advice is rarely generalizable so I'd rather just share what I did rather than give advice, because there's so much I don't know about you. I *really* wanted to work on startups which was as much or more of a motivator for me compared to the geographic thing. I'm now back in M&A and so I naturally wish I would've just stuck around instead of taking the long route, but I also think I needed to scratch that itch, and if I hadn't it'd bothered me. Even though I'll have to wait 4-8 more years to retire compared to my peers who stuck on the path... well, I don't have regrets.
Dude just quit. I’m in the same boat rn. I’m a 1st yr and Im recruiting like crazy. The second I land another job (not IB) at a F500 or Tech company, I’m quitting. Can’t wait to leave
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