Hey everyone. Current 1st year at a top BB looking to exit ASAP. Been reading through the other threads on how rough the 1st year analysts have it, but can anyone comment if they have actually quit (what your experience was like doing so) / what type of jobs you're leaving for?
Would be very helpful to hear other people's experience in this, as I am too looking to exit soon. Thank you!
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You literally can't even have a pet dog in IB, going by the most recent thread on the subject, and this is when y'all are working from home. The situation seems to be complete garbage.
That's not why you can't have a pet dog lmao. You're not going to work from home for the next decade but the dog is going to need someone that will be able to spend time with them for the next decade.
Makes sense though since bankers and medical workers are both equally valuable to society.
Goddamn that is depressing AF
Business analyst, FP&A, strategic finance, corp dev etc. I've come to realize that I really don't give a shit about the rat race of prestige and money anymore (COVID and WFH has only accelerated that mindset I believe) and I just want something that I don't feel like shooting myself in the face over, pays decently, and provides a decent work life balance.
Haven’t quit but know of people who have also gone on medical leave (mental health) and plan on leaving as soon as the paid leave is up.... first years have it the worst now. Having an associate you’ve never met scream at you over email for work we were never properly ramped up or trained for is another kind of crazy
not sure, but i actively tell everyone that hits me up for phone calls/networking chat that I don't reccomend my BB or the industry, and to use all their efforts to either
1. study CS/learn to code and go tech
2.try and go direct to hedge funds or PE
3. do consulting
4. start out in corporate dev/strategy (you will likely exit there anyways based on this thread...might as well pull the band aid off now and not even sstart in IB)
5. go to medical school
Does anyone feel like they’re not actually learning much / not really getting good at the job .... that’s probably the #1 factor for why I’m looking to quit.
It may not feel like you are learning, the same way it doesn't feel like you are growing as a kid until puberty. But you are. You are picking up things every day about how to do the job, what people like, how to generate a good quality work product, etc. Yes, you may not have the modeling experience right away, and maybe you should ask for that, but there are skills you are picking up.
By way of example, go back and try to do some of the technical interview questions that were super hard. You'll find they aren't really so difficult any more.
Hate to be that guy but would someone mind noting which firms/groups have lost first-years? Trying to lateral rn and this would save a lot of time lmao
Hi, I'm a reporter looking to cover how covid and WFH are affecting IB analysts. I'm hearing that some of the promises of a job in IB, like culture, mentorship and feeling like you’re part of a team, simply aren’t the same with working remotely. Also hearing that with people quitting and record dealflow and market activity, desks are understaffed and analysts are bearing the brunt. I think it's a really important story. Happy to talk without attribution -- I won't name you or your firm or compromise your identity. PM me here or on twitter @rossmatican -- you can find more of my contact info there (email, Signal, WhatsApp etc).
kinda sus
Very slick Carole from Compliance...
Maybe I'm missing something, but don't we want broader awareness on these issues? Or just complain about it on wso?
Because journalists are the scum of the earth and deserve every ounce of the hatred they receive. Here's how this "story" will go. You will volunteer your time to the reporter. He'll say something like "we're just here to get your side of the story. Don't worry, we won't publish your name!". He will have a veneer of kindness. You will spend an hour talking through what you've dealt with, how your classmates are quitting, how you've worked 100+ hour weeks with multiple all-nighters, how you were chewed out for mislabeling a footnote at 1am. The call will end. "Thanks for your time, this was extremely helpful and I hope things get better for you!"
Two weeks later you'll read a headline that's something like "The Trust Fund Kids Who Hate WFH". The article will be about spoiled rich kids (that's you!) sitting comfortably in their homes "making three times the median family income" while the pandemic "ravages poor families, especially in minority communities". Instead of mentioning any of the all-nighters where you could feel your heart out of proper rhythm or the times when you wondered if that weird pain in your head meant you were about to stroke out, they will write about the one off-hand comment you made about dinner not being comped during WFH or how you missed out on a Christmas party. Oh, and your real name will be printed. Oops!
Fuck these people, say nothing.
What is currently taking place is sickening. It started as fairly relaxed and refreshing when covid first hit with wfh, then shit hit the fan, quick. We all assumed this was temporary with the drastic need for Redacted transactions, but it transitioned into the new baseline. MDs were basically shitting gold bricks during covid, now that flash is over and they are cozy with that new golden throne, they are aggressively defending that environment as the norm.
I can't describe the current working situation as anything but suicidal. We all want out, but we don't even have a moment to breath, let alone think about our resumes, or applying anywhere. If we were to interview, we would make fools of ourselves because of how utterly exhausted we are. 110 hours a week is the baseline as of now. We cant go offline. I don't care about the money, losing my bonus, but a cold quit is our only option, management knows this and it destroys all prospects. Bed to desk at 8am to bed at 3am has been my existence since the summer. There is no comradery, there is no nights out with coworkers, there is no mentoring. I don't know what happened to this industry, how it could have possibly gotten worse, and of all things by not having to go to the office, but MDs are now contempt with a suicidal existence of analysts because they don't have to look us in the eye anymore every morning and see the suffering. We are not even treated as humans anymore because there isn't human interaction.