deleted

Cheer up bud... it's not the end of the world. Whether or not you're let go, you'll look back at this experience with a smile. If I was in your position, I wouldn't quit but kickstart your lateral recruitment into high gear. Get LinkedIn premium, start setting up calls to speak with recruiters, and make an excel tracker for the positions you apply to, the people you speak to, and when to reach back out to them. In this market, it will be very tough to find a job immediately if you quit especially in your position so my best advice is to start looking for roles in corp dev, investment banking, private equity, strategic finance, etc. You will take a pay cut most likely but you can always come back to this industry if that's still what you want. Please don't harm yourself. The feeling goes away. My 2 cents.

Been in a similar spot. Just be honest with yourself when you reflect on your past year - if you’re actually good but got an unfair review (which happens), spend your time looking for other jobs. 
 

Just don’t waste your time on projects with a group that doesn’t want you working with the team anymore. 

I’m really sorry to hear that man. It is times like this where we realize that our employers are unpredictable. They will always do what’s best for them, and what’s best for them can change day to day with market conditions. These are the same guys that gave you top bucket before, and they’re the same guys making you miserable now.

I just want you to know your time was not wasted. You are an intelligent, competent, competitive, industrious, dangerous individual. All those sleepless nights and completed projects were not for your company, they were for your own development and experience. You will still reap all the real rewards, since we are the sum of our experiences. Furthermore you have a top bucket performance review in hand and nobody can take that away from you. That is the reality, that is factual. Both in the sense that it’s in writing, but also in the sense that it is the truth.

Nothing I say can make this better but realize that you can use your experience and high performance reviews to lateral annd grow much beyond this setback and remember that better men than us have found themselves in this position. Steve Jobs got shitcanned from Apple, his own company, and then turned around and created Pixar, sold it to Disney, later rejoined Apple, and lead it to become the most powerful company in the world. Jamie Dimon got shitcanned from Citi by his own mentor and business partner, and later became the CEO of J.P. Morgan. These men wren’t stopped by catastrophic late career setbacks, rather they grew much beyond them. You will not be stopped by this early career disappointment, and you will grow much beyond this.

Honestly best bet is to keep looking while you have a job. Quitting=no severance, etc. whereas if you were laid off or fired you'd likely get something as well as unemployment (it's actually rare that an employer would say you were flat out fired). It's a shitty position to be in tbh given how the current market is but at least if you keep looking while you're working you will have a better shot as interviewers tend to view those currently employed more favorably (sad but true). 

Just find a new job bro, they don’t want you working there anymore

Sometimes reviews are a factor of headcount - if your firm is downsizing, your managers may have seen it as an “it’s either him or me” scenario, and you know how that ends. Would split the time between improving and looking at another shop

There’s no need to be salty about your situation. 

I know it’s rough but just find another job, you have 2+ years of IB so you can definitely land something good, at least another IB analyst 2/3 job or stay til associate then move after  

Btw there is some few things to clear out here - just because you work hard does not mean you will get top bucket. Your work *product* must be great as well.
 

It potentially seems like you were focused on spending a lot of hours working but not efficiently working on the important stuff. I was in the same situation as well - worked multiple all nighters and got middle bucket. So I took care of myself (not working all nighters so I can actually focus on the next day generating quality product) and pushed away things that are not important, but absolutely killed the ones that were (modelling, board presentations, etc.) this will get you top bucket.

Or it could be politically someone does not like you well - but usually in the banking space if you are outputing good product, ASO/VP will absolutely want you as it saves them time.