Thinking about Quitting current job to lateral to IB
I currently work as a real estate AM analyst at a boutique. Our PE clients' portfolios are being wrapped up and the firm is not profitable and pretty much going out of business because we don't have any other clients lined up and the company is in debt. My boss recently told me that it will all be pretty much over in January and we will be out of our jobs.
I am taking the CFA Level I in December and thinking about quitting early in November to focus on passing CFA I and lateraling to IB (Interview prep / Technicals / Modeling). I have been networking but I am not completely sure if I can land the offer before January.
If I quit early I will still have an exec support that can reference me that I was great at my job but the business was closing and had to lay me off. and if I don't have any offer after passing CFA I plan to go super aggressive and ballsy in searching/networking and also start visiting firms in person with work samples.
Is it a good idea to quit early in November?
or should I just wait until I am actually laid off in January or until I land an offer?
Can this employment gap for studying for the CFA impact me lateraling to IB?
I don't think the CFA will really help you with a move to ib as you already work in the finance industry. In my personal opinion all that time would be better spent aggressively networking etc
I plan to become a PE portfolio manager in 10-15 years so I believe this is necessary. Also, I don't have a finance degree so it is a good way to hedge.
My plan is 2-3 years banking top 10 MBA and then PE placement
Instead of just quitting with no job lined up, why not try to get an IB job while still working? That way when/if you do get laid off you can still get your unemployment checks! ha
Because I don't know if I can pass the CFA without quitting and I do need quite a lot of work on ib interview preparation. I don't want the hundreds of hours of spent studying go down the drain.
What at work is going to eat up your time if the firm is going out of business? Won't you be able to spend all your time studying or no?
Exactly. If you bust your ass day in day out from here until December, you're still out of a job. Do some studying/interview prep on the job.
If it were up to me I'd rather get paid to study.
Very valid points.. I have been doing it but just been finding a way to look busy and actually working because they know I am taking the exam. Nothing to lose I guess I will just go all out hardcore study on the job.
attaboy.
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