Rough Patch- Would appreciate any advice on the next step
Hey all- was hoping I could get some advice regarding my situation. To put it shortly, I have a new boss as of the past couple months. However, in the past 2 months he has gotten progressively, more and more critical of my work. Enough so that I received no bonus and poor remarks on my annual review. It is causing me a significant amount of anxiety on a day to day basis, and I'm worried I may lose my job. My plan is to leave this position and I have 2 offers likely coming this week. This is my issue: I am currently an analyst at a large bank (think GS/JPM/etc). However, I am coming from another well known bank in which I was an Analyst (senior). I am in a very tough situation because the 2 offers that are coming down the pipeline would be a lateral move (analyst). I feel this will be the most important move of my career and really want to make it a move that will provide some upward trajectory (at least associate role). One of the roles that I might get an offer for will pay me roughly 20% more, will be at a small firm, and still hold the analyst title (they don't have a structured promotion process). Would it be wise to expand my search substantially and try to land a position that will look good on my resume (associate/any title that sounds like it's not a lateral)? I am worried that I can be put on a PIP or fired in the mean time which will severely hurt my chances of landing any type of job in the future + come up in background checks. Any help is much appreciated, I have been dealing with severe anxiety regarding this situation and it's really causing me a ton of distress on a day to day basis. I feel very low mood going into the office now and just want this to end so I'm considering just taking a lateral position, killing it, and then getting promoted quickly. Any help is much appreciated guys.
Going to be straight with you. If you got 0 bonus you’re counting the days until you’re let go. Personally I’d rather take a lateral move with virtually no gap in my work experience than risking the potential of being let go. Bouncing around to three shops as an analyst isn’t ideal, but seems like the only logical option IMO
Agree w this.
What was the issue with your last bank? Was it a small shop and you wanted to move to a larger platform and took this offer? Was the work different? Is this something that you actually enjoy doing..? Tough to do something you dont find interesting regardless of which firm you pick..
These questions definitely helped me reflect. The last bank was basically a BO job where I was drastically underpaid and the move to my current bank was a massive upgrade (no brainer). I don't mind my job, however I don't like it in the current state I'm in/how I'm being overly critiqued in everything I do. Thanks for being straight forward. I don't find the job interesting. I feel I have pigeonholed myself because to move to a different industry I'd prob take a massive pay-cut. I have a very specific business idea I have wanted to start for 3-4 years (have had 2 friends who successfully left their jobs doing a similar venture). So I'm debating taking this new position and using it to fund my business idea. I'm kinda all over the place at this point, but I feel the most important thing for me to do right now would be to mitigate risk, land a new position (best one I reasonably can in the next 1-2 months), and the reassess with a clear mindset. I've purchased some books from HR execs. Basically in every book, once you are labeled a malcontent, underperformed, disliked, etc. there is very small % chance to recover and its best to leave positions. I started my current position as an extremely high performer, but dealt with a ton of personal stuff last year and it caused me to lose a substantial amount of interest. I'm hoping I know I can learn from this and be a A+ performer in my next job (I did it for a solid year at my current job before it fell apart).
I agree. Appreciate the advice and was leaning in the same direction. I am going to expand my search and go 100x harder into it and see if anything can materialize while I wait on these offers. This was very hard on my psychologically the past week but I'm getting more clearheaded now.
No it’s not my brother in christ. This is what’s contributing to your anxiety, like a high school senior thinking what college he goes to is the most important step of his life. No it’s not. This doesn’t define you or your career any more than the Lehman analysts in 08 were defined by the first job they got after getting let go in a recession.
This isn’t about “the more important step” or “your career”. This is as simple as you’re working with a new boss that’s not a great fit, now you need to find the best next job you can. Sure, it might be less than ideal, but you’re in a less than ideal situation and also in a recession, and the next step is more a reflection on these circumstances than you. Focus on crushing it in the next role. Your actions, contributions, impact, and professional accomplishments will guide your career, not the 3rd job you worked at after moving out of your mom’s house.
Thanks. I was making this a much bigger deal than necessary. I've kind of calmed down and am approaching my job search much more strategically and not over reacting. I received an offer yesterday. But, don't think I want to accept that specific position that was offered.
Great to hear man. I hope my post didn’t come off as critical. I’m rooting for you and want you to come out of this as best as possible
It was very useful. I appreciate it
The only thing I can add here, is make sure you're reflecting on the criticism you've been given. The last thing you want to do is move to a new role but experience the same issues as before, now with significantly less flexibility.
Is the critique from your new boss reasonable and eschewed to you by others on the team, including Associates, VPs and other MDs? If so, there may be at least some truth to it, and it may do you well to recalibrate some of your work habits so you can come in and make an awesome first impression at your new firm. If there are Senior Analysts, Associates, etc. that you trust, ask them for candid constructive criticism. I'm rooting for ya like everyone else, just don't want you to overlook anything simple you can do to improve.
I do think there are areas of truth. I know generally what to improve on, but will do a deeper deep dive on this after I accept a new position.
Absolutely agree with everyone else. This is not the most important move by any stretch of the imagination. Get out of this firm and deal with your title later - 1 extra year at analyst is nothing, even 2 extra years is not meaningful in the span of your long career.
Zero bonus is telling you to leave ASAP. I would not turn down offers just because they are lateral moves - pick whichever you prefer and GTFO.
Thanks. I think I'm going to decline my most recent offer and hit the pavement hard to find the best position I can within the next 2 months. It's a risk I'm willing to take (that I might get fired in the in-between time). I don't think I will, which is why I'm taking this chance but it is a big risk none-the-less
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