How stupid would I be...

Hello

I work at a mid-sized investment bank, nothing spectacular, but if you work on the street you have heard of the bank. I have had some OK deal experience (2 M&A and 1 Debt offering), nothing spectacular, but for being a first year in this environment I am not one to complain. I actually received my bonus number and it was $65,000.

I work in New York, but I HATE my group. I do not mind the company, but my group is the worst and is always the butt of every joke. What I mean by this is: my group is 4 people (MD, VP, Associate and Me). The MD is the biggest joke but has 7-10 great connections, college buddies from good ole NYU and milks them. We never have any new business ideas or cutting edge, like the other groups I see on a daily basis. My VP is really nice, but my Associate is a fucking retard, end of story.

I perform really well, top tier, I would say top 2-3 of my class of 10. The only problem is I just want out, I know the market sucks, but I will do anything for 1-2 years for some experience and then head to B-School. I know I should just suck it up for another year, but I just do not forsee us doing any deals, we have not even done a pitch in the last 60 days. My MD has exhausted all of his options from his network and has no other way in, while other groups are doing deals, they are not flying out of the door, but shit is getting done.

My entire group, even the really cool VP, all went to state schools and only the Associate has an MBA from a 50-100 school, and I would not ask him to write my recommendation unless it was required. I am not sure he has formed a coherent thought since I have been there, and I actually would not be surprised if he gets the axe very soon.

I have voiced my opinion to a Director, who actually helped me get the job, and he said if it was not for politics he would just take me onto his group or swap one of his analysts for me. We both know that would not fly and my MD would smell something in the air. He has even, begrudgingly, said to me, "I do not want to see you go, but I do not think I can convince you to stay, and I apologize for your situation. You can always find yourself back in IB or buyside with a good MBA. Do what feels right."

I am no whiz kid but I went to a good school, nothing too fancy but performed well with a 3.8 GPA and took my GMAT last week, yes that is how slow my group has been, and scored a 740. I know that more is looked at than just a GMAT score but I know it will help.

So my underlining question is: due to the market conditions if I make the jump to the corporate world for 1-2 years while I get in some leadership positions to help my application while learning something new and trying to be an all star there will I hurt myself after B-School. My goal for B-School is Top 5, if this is attained, I know it is somewhat of a crap shoot, can I get back to IB or even PE? Also, would asking my VP to write a letter of recommendation be out of line once I left?

Thanks