Leaving bank after <6 months stint

I joined a well known boutique in LA about 3 months ago with what turned out to be an incredibly toxic culture as a lateral. Aggressive seniors, heavy emphasis on facetime, and 0 junior culture. Before the move, I spent ~2 years as a highly underpaid analyst at a regional boutique.

I definitely did not do proper diligence on the group, otherwise I would not be in this position. For context on my decision to move, I was attracted by the pay increase, but was driven more by the awful culture at my old shop. I was miserable in my previous role (combination of bad culture and terrible comp) and was desperate to take anything that would get me out of that position. Basically, I jumped out of the frying pan and into the fire as far as poor work environments go.

My mental health has taken a nosedive as a result of this whole experience, and I'm seriously considering quitting abruptly to reevaluate what I want from my career. Given my past 2 banking experience, I'm now pretty confident that IB as a whole is just not a great fit for me, and I have no interest in PE exits, although I would love to keep the door open for earlier stage investing which is another reason why I considered making a move to a shop with a better brand. I realize that leaving would probably jeopardize my shot at the best "exit ops" but I also question whether many of those exits are a good fit for my personality/work interests/etc. 

My question for the group: does it ever make sense to quit soon after starting a new role, and does it ever make sense to accept a resume gap while searching for a role that's a better fit? I'm guessing the answer is "no", but I have found that recruiters for things like corp dev and strategic finance are icing me given short tenure at my current firm, and I also am pretty unhappy with the idea of struggling through a year with my current firm. Would appreciate any advice or experiences you guys have had with with this type of decision.

Comments (4)

Most Helpful
  • Associate 3 in IB-M&A

How long were you at your first job? I would say 2 very short stints (under 1 year) is a pretty big red flag. If you got to 14-18 months at the old place, I think you have more cred.

What is your financial situation? I would budget for 6 months without a job, potentially even a year "worse case scenario" given the economy and the fact that your resume needs some explaining. If your parents are willing to help out or you have a lot of savings, you might be okay with this. But lots of people who quit think they'll have a new job in 3 months, that is rarely the case even in a great job market.

I would try to make it to 6 months in this job, and start thinking about what is next in the meantime. If you can figure out the financials and mentally just need out of there, you will recover but it may just take you a while to find a new spot. Sounds like IB is not for you, perhaps corporate (FP&A, IR, strategy) would be a better fit. They also may be a little more understanding of the short stints and the story for wanting better culture would make sense.

  • Incoming Analyst in IB-M&A

Is this Moelis?

  • Analyst 1 in IB - Cov

Brother please listen - do not under any circumstance quit. I know you're hurting. I can see it in the way you write. I know you want to find air and let the storm pass for a reset. Unfortunately, you can't do that. You did ~2 years at a regional boutique which is ok but leaving 3 months in for current role is not a smart choice. An associate just posted his " to the analysts who are thinking of quitting" advice and you should read it. Deals exactly with the situation you are in. It's trending right now. Would recommend doing the following

1) read that post because it answers all of your questions about mental health and survival. 

2) Watch an interview from Nando Parado (check my spelling). He's a survivor from Andes mountain plane crash where (long story short) he and friends who were junior soccer players survived 72 days on a snowy mountain by resorting to cannibalism. In his interviews, he's a normal guy. But his whole thing now is motivating people to be stronger and braver. He said no one he's ever met has made a decision like him. Put your problems into perspective. You said comp was better. You have a job in this economy and you're closer to associate. You need to close the bunker door and lock it in. Once you hit associate then I recommend finding alternatives or switching to a product group.

If you leave (and it sounds like that's what is going to happen when the molding breaks here) please remember a 9-5 is not the life you dreamed of. That is not an escape to banking. It brings new problems not diminishes them. Good luck

  • Analyst 1 in IB - Cov

Qui ipsam unde qui odit autem cum dolor. Et ipsum vero laboriosam fugiat neque ullam suscipit. Accusantium velit et distinctio aliquid ut.

Itaque aut omnis voluptas rerum fugiat sed ut. Illo repellendus commodi laborum est optio cum. Adipisci ex et est quasi.

Rerum in accusantium nihil neque laborum qui. Veritatis fugit omnis nam quod culpa. Aliquid voluptas aut quos et.

Consequatur in ex quis eligendi quos. Et similique molestiae quod dolorem.

Start Discussion

Popular Content See all

Getting Crushed is Paradise
+591IBby Corner Jump Capital
+192IBby Analyst 1 in IB - Cov
+158IBby Analyst 2 in IB-M&A
Taking 10+ vacation days as an Associate?
+130IBby Analyst 3+ in IB-M&A
Truist: Sweatier Than Ever In 2023
+83IBby Associate 1 in IB - Cov
Friends vs Competition As Analysts
+75IBby Analyst 1 in IB - Cov
Christian in IB
+69IBby Intern in PE - LBOs
Stop The Awkward Networking Calls
+68IBby Analyst 1 in IB - Cov

Career Advancement Opportunities

January 2023 Investment Banking

  • Lazard Freres (+ +) 99.5%
  • Jefferies & Company (▽01) 99.1%
  • Lincoln International (▽01) 98.6%
  • Financial Technology Partners (▽01) 98.1%
  • William Blair (▲08) 97.7%

Overall Employee Satisfaction

January 2023 Investment Banking

  • Canaccord Genuity (▲04) 99.5%
  • William Blair (▲04) 99.0%
  • Lincoln International (▲09) 98.6%
  • Jefferies & Company (▲06) 98.1%
  • Financial Technology Partners (▲09) 97.6%

Professional Growth Opportunities

January 2023 Investment Banking

  • Lazard Freres (▲15) 99.5%
  • Financial Technology Partners (▲09) 99.1%
  • Lincoln International (= =) 98.6%
  • Jefferies & Company (▽03) 98.1%
  • William Blair (▲01) 97.7%

Total Avg Compensation

January 2023 Investment Banking

  • Director/MD (6) $592
  • Vice President (24) $418
  • Associates (136) $262
  • 3rd+ Year Analyst (9) $194
  • 2nd Year Analyst (80) $172
  • 1st Year Analyst (257) $171
  • Intern/Summer Associate (42) $166
  • Intern/Summer Analyst (185) $91