What’s the shortest stint you’ve ever seen in Banking?

Title says all. What’s the shortest stint you’ve seen or heard of where the individual leaves banking for a ‘better’ job in terms of pay. 1 month? 3 months? Just the internship? (With a return offer) 

60 Comments
 

Just the internship + return offer is pretty common. Lots of people realizing IB is not for them and leave for something with more WLB, different industry, etc.

Have seen someone leave after 2 months. Also a guy who was actively telling people in week 2 that he had decided banking wasn't for him and was trying to recruit elsewhere... think he stuck it out for a year.

None of these were for better paying jobs, all for better WLB. I would be wary of leaving super quickly just for a higher paycheck unless it's massively different, a short stint will get questioned. 

 
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6 days. Was at an MM and we hired a lateral from Deloitte (audit I think). Despite him saying that he knew banking hours were tough, he was confused when he was asked to come in on a Sunday. He quit Monday never looked back. I know for a fact he didn't get crushed the prior week either, maybe 70 hours.

An MD that originally interviewed him said the guy said in the interview "I have no family or freinds in this city, i'm here to grind".

 

6 days. Was at an MM and we hired a lateral from Deloitte (audit I think). Despite him saying that he knew banking hours were tough, he was confused when he was asked to come in on a Sunday. He quit Monday never looked back. I know for a fact he didn't get crushed the prior week either, maybe 70 hours.

An MD that originally interviewed him said the guy said in the interview "I have no family or freinds in this city, i'm here to grind".

This is awesome. Big 4 laterals have all been duds in my experience as well

 

This is awesome. Big 4 laterals have all been duds in my experience as well

Agreed. I worked with an ex-Deloitte guy who was very technically proficient but just did not understand the concept of being staffed on multiple deals at once. I guess he was used to working one project & one client at a time. He literally just could not cover two things at once and would immediately try to push anything else he was staffed on to an Analyst or other Associate.

I was the one who found him (he reached out to me via LinkedIn before we put an official job posting up) and he basically became my problem. I remember having to explain to him, dude, everyone here is covering multiple deals at once and we all go into each day with a backlog of stuff to do across multiple deals. You cannot just push everything off to someone else besides the one deliverable that you are immediately working on, because whoever you're pushing it off to also has other work to do. Dude was an Associate 1 delegating like a VP staffer. 

 
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No joke, an Analyst quit after 3 days.

Not because of work but i think the hazing were bit much even on IB standards.

I know the first 3 hours of sitting on his desk, the VP sarcastically commented on the fact he sat on his favourite analyst spot (the firm doesn't have a fixed seating) and he said "Wow, first day and already sitting like you own the place huh?"

Then i think on his 2nd day another VP cursed at him and threw a printed deck literally towards his face because of some number doesn't add up.

And i think the last straw was when he left office at 2am and decided to be late for about 30 mins to the office (we start @ 8.30, he arrived shortly after 9am) and the VP commented that if he couldn't handle being on time after working super late he would happily show him the door. The analyst straight up said "Thanks, i already knew which way to go."

 

This firm is THE largest and most prestigious IB in my region (GS/JPM equiv.).

Ratting them would mean the death of your finance career since they pretty much knew everyone in a FO position in every major institution. And everyone thought it was just "paying your dues" so for those who are able to take the abuse just kept their head down, and for those who can't simply quits. I myself took the 2nd route.

 

Have to be anonymous because it would instantly doxx me, but I quit literally 5 weeks in to lateral to a large T2 MM bank (not in the US). The boutique I started at was small, brass-heavy, and the deals sucked ass. Also, I had to do a huge exam meanwhile so basically already didn't give a shit about the job. So, when the MD from the bank called me and said "I want you", I squeezed him a little bit on wage and bonus and then quit that shit show as fast as I could. The faces from the partners were gold, tbh. 

 

Have worked for guys younger than me, and it totally depends on their attitude. If they are respectful and trying to teach you, their feedback goes a long way. If they are super condescending and tell you, "I couldve done the work much faster, and at a much higher quality", it can be really tough. I have worked with both types, more the former than the latter. While I never quit despite being ridiculed regularly by someone younger than me, it made me question my own intelligence and work quality, which was already in question as I held myself to a higher standard as I was older. 

 

I had the same feelings in CF- thinking that I would be building these forecasts that are highly dependent on economic indicators, marketing data, and gut feel and would directly drive business decisions and investments and such. But my first role was essentially cost accounting- refreshing reports (just dropping in new data sets) and pricing hourly forecasts from the engineers into dollars. And then in my FP&A roles the forecasts were just rolling up the hourly forecasts from engineers.. simple, simple stuff.

 
marketMergerMaddie

I have to ask, how bad was this guy? Did he literally not show up to the job?

Showed up late and left early every day. Did not go through a normal process because his dad was a big shot. He had prior banking experience but could do nothing. He couldn’t pull comps or make a ppt slide. He’d just say no when asked to do things. Just a zero effort kid so all the VPs and associates went to the partners as it wasn’t going to change. 

 

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