Getting screwed - what are my options?
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Career Resources
An MD that you grind for when the going gets tough will be a solid reference for the rest of your life. Leaving after a few months (sometimes even a full year) because it didn’t seem fair or you were overworked will appear as a red flag to other firms. However, if there is zero motion to expand your team then you do need to pivot out. Work very smart and fairly hard. Automate/template as much work as you can. It’s the key to being able to fit in more work. After a year if by some magic they haven’t restocked the team then start the process of looking.
Can I PM you
I went from IB to Corp Dev 6 months after my AN1 stint…..
Hated my group, super sweaty pulling 100 hours a week, weekend work every weekend (didn’t get a single Saturday to myself) and bonuses were known to be on the lower end. Team had huge turnover and ANL class was already weak to begin with due to so many departures.
I dipped after 5 months technically (but on paper it looks like 6) without anything lined up and landed a corp dev role 2 months later.
Old pay was 110k base and then IB bonus say 40 - 50k in NY
New pay is 105k base with 10% bonus…. (Low but it is corp Dev) but my hours are gonna be 40 - 45 a week with WFH flexilbity and also in a LCOL city (I cut my rent from $2200 in NY to $1000 lol)
Taxes are lower too: net my take home is higher and I have an extra 1k a month to invest and spend here than I did in NY…. Thinking of buying a small house for $150k.. I can pay it off in like 3 years. Things are good
My point is, ur not a slave to ur job and it’s ur first job. People won’t hold it against you. Everywhere that I interviewed asked me why I left and I said culture and work life balance and explained my situation: 100 hour weeks, high turnover, toxic environment.
I’m so much more happy now. I don’t work for a prestigious company or a financial institution, but my team is super active with M&A, are chill, and my quality of life is so much better !
My point is, dip if you don’t like it, don’t feel obligated to stay
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