IB VP Resignation (UK)
I am a VP3 in a BB sector coverage team here in London. My contract includes a 3-month notice period and I have received an offer to join the corporate development team of a large European media company. Note the company is outside of my sector coverage.
I intend to submit my resignation after signing my new employer's contract and when background checks have been completed.
What can I expect in terms of serving my notice period and/or gardening leave? What can I expect around unvested deferred comp? I have heard of certain folks exiting as "good leavers" when moving to potential clients and thereby retaining deferred cash/equity.
AS1 here so take with grain of salt but I’m thinking this’ll be a negotiation with your line manager or team head and you’ll be expected to work at least part of your notice period (at least a few weeks). No clue on deferred tbh…
Standard procedure is (i) out the door the minute you resign, and (ii) can assume deferred comp is a 0. Typically you get your new employer to buy you out, which usually means swapping deferred stock in one company/bank for another.
Most people I know stop working the moment they resign. You gain nothing from working overtime as you’re not accruing bonus. And even the daily normal work some try to do a bit to keep the lights on to help their team and some just go mia.
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