Resignation timing
Hi all,
When lateraling you typically resign after signing the offer letter or after background clears?
HR of the new bank wants me to resign now bc it might take 15 business days for background to clear.
I don’t think I have anything that will make the background check hard but don’t necessarily want to leave it to chance either…
Bump
No resignation letter until background check clears is what I would do
That's terrible guidance from HR at new bank. Best practice is to resign when any and all steps done, including background check completed, final offer letter received/signed.
I'd just say I want to make sure everything gets buttoned up before I resign. Let them know obviously there no issues, but things get delayed with references and processes, and that you want to avoid a situation where you're not in any seat for too long. Everyone would understand.
Thanks super helpful
Agree. Keep in mind, too, that the two week notice is purely courtesy. Typically banks will allow you to stay for two weeks if you’re going to a non-competitor (e.g, to buy-side). However, if you’re going to another bank, they will have you leave same day. If they have you leave same day, but you intended to stay on for two weeks, they often pay you during those two weeks
Please try to delay until background clears. Have seen instances when background checks take months. This probably won’t be the case but save yourself the stress.
Definitely not the smartest move but I quit the day I signed my written offer (a week after the verbal offer) and would 100% do it again. That said, I was confident I would pass, had the $$$ if something went wrong, and was burned out at my current bank. Plus my start date was only 2.5 weeks away and I needed a break.
How long did your background check take in the end?
I had to provide additional information so not sure when it cleared. But, it only took 3 business days to run everything (because they sent me a copy of the background check when they asked for additional info) and then I just provided my w2 and all was good. Also quit immediately because there was only 2.5 weeks between the day I resigned and my new start date. Was not about to do the quit in a Friday and start the new job on a Monday like some of my friends.
I got staffed on something brutal and said fuck it I’m going to the beach instead.
Somewhat related, but how do you manage the leaves earned but not yet taken? Would you let them expire?
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