How to respectfully quit
Hey everyone, I hit the desk back in June out of school and like many quickly realized IB wasn’t for me. Extraordinary long hours and found a gig that I’d enjoy more with way better WLB. I have a great relationship with my MD, VP and most of the junior team. Is there a way to quit without bad blood here? I would stick it out but I really need to get out of this industry. I am lucky to have a great working environment and do not want my co workers to resent me for my choice to exit, but need to do what’s best for me and my career here. I’m worried that not only are they going to be blindsided but also be upset with me for my short tenure and effort helping me ramp up. Curious if anyone has had similar experiences with this
While I am eternally grateful for the folks that have dumped time and energy into me, this job has really taken a toll on my wellbeing that I really thought I could handle when I signed my offer after the internship
Good for you. Seriously. Overarching point would be don't worry too much about the others at the bank. You're miles ahead of others by even thinking of them. This happens pretty regularly and they will almost certainly harbor very little ill will towards you for leaving for one of the purest reasons around (and if they do, that isn't someone you want in your network anyway.)
What opportunity did you land? I’m interested to hear.
Lmk what bank I'll cover your seat
Tell them the same thing you said here. Provide reasonable notice and don't phone it in during notice period. It's just business, people get it.
To add to this, there is often a lot less "bad blood" when you are exiting the industry.
Stand tall and explain that the role was not the right fit for you personally, but that you really enjoyed the team. Seeing as you have good relations with most of the team I wouldnt expect much bad blood. Offer to help out as much as possible and try and pull each person who made a strong impact aside and personally thank them.
This! What I did and it went as good as it could have in that situation. Everyone was disappointed but very understanding and was even able to keep the relationship
Just tell them that. It's been a great experience, you appreciate the opportunity, but found something that you think is a better long term fit so it's just business.
They're grown ups and will be just fine. People move around jobs so you're not doing anything unusual or weird.
People get it, happens every few classes that someone quits in the first year. Just be respectful
Remember to smash a few good looking chicks at your bank before you depart.
*all chicks, especially cougar MDs.
Fixed it for you.
I quit my first year and went to another bank and just did what was standard in my group. The night before I called all the analysts and gave them a heads up that tomorrow (Friday) was going to be my last day and emailed my staffer to put time on the calendar to catch up. Called my staffer at 9, he told me I needed to tell the group head so I asked him to chat, he told me to send him an email that he forwarded to HR and took care of the rest. Spent the next 2 hours calling various people I’d worked with to thank them for the opportunity to work with them. Did some HR stuff and then it’s over.
I ended up quitting a week earlier than I planned after getting staffed on a terrible deal. Once you tell the first person you’re leaving there’s no going back and each conversation gets a lot easier.
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Say fuck that shi im out lmao
They would only harbor ill will if you left to do the same exact job at another bank. Since you are exiting the industry due to health reasons they won’t care.
Echo what others have said - if you’re not lateral-ing to another bank, or taking a traditional exit opp (IE PE) early, usually there’s no hard feelings. If you have a good relationship with the team, do be sure to give a reasonable heads up so they can plan ahead and restaff projects
How to handle leaving in the middle of very busy live deals? I’m well aware that my departure will be a PITA for a couple of processes that I’m on when I quit in a month but honestly when I picked my starting date months ago I didn’t really care about what deal flow would be looking like. I guess besides writing up a robust transition plan before I dip, what else?
im going to a hedge fund so hoping they’ll kick me out (tbh I don’t even want to tell them where I’m going out of fear of retaliation by those I’m leaving my deals with…) but if they don’t, is it a bad look for me to still mail it in during notice and just punt it to the rest of the juniors? They’ll have to learn regardless when my two weeks are up…I just don’t want to burn any bridges in case of b school but also I’m just trying to give sit on a beach for a few weeks haha. I’m a senior ASO and this will come as a big surprise to my deal teams so not sure how dynamics change in that case (expected vs unexpected, more senior vs analyst).
This is the problem with banking lol, you're literally leaving the job and the expectation is that you're going to write a robust transition plan. You're moving to a new job, you don't need to worry about making everything perfect at this one anymore
From your deal team’s perspective, I think just getting a reasonable amount of heads up is probably the most important, in addition to the transition plan. Just so they can start the transition process in terms of staffing a new associate on the deal, but also having some overlap with both of you on the project to ease the transition. If you’re not looking to burn bridges, I wouldn’t immediately punt it all to the juniors, but yes as you get closer to your leave date the other associate really should be running with it by then (otherwise there’d be a noticeable break in continuity).
I wouldn’t worry too much about retaliation - leaving this industry is common, and so as long as you didn’t do anything that felt malicious, most people want to keep good connections with others. After all banking is a relationship driven business. It’s possible in an equity deal in the future a hedge fund order may be needed in order to get the book over the finish line, so people aren’t looking to cause issues if there’s no reason
Send out a simple email
Thank you all for the opportunity:
Buy the Dip
Short the VIX
FUCK Bitcoin
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