Who’s Quitting?
There was a post like this for analysts over the summer so I thought I’d make one for the Associates and VPs. Who plans on quitting after their bonus hits? What are you planning to do next?
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Quitting. Comp is embarrassingly below market at current bank, moving to another bank that actually understands how to incentivize their people.
Are you at a BB or MM?
Yup
I am - putting in my 2 weeks soon
What are you going to do next?
Probably apply to jobs but I’ll take my time and at my own pace. The IB environment fucked me up so much that I need to readapt
Stub associate, trying to leave asap after either 1 year mark or Feb/March 2023. This job really sucks, maybe it's better on a capital markets group, but coverage and M&A are pretty bad. There are no redeeming qualities, it's super administrative and the inefficiencies are mind boggling. I feel like I'm a graphic designer and executive admin rather than a finance professional.
Trying to recruit for asset management, even if it doesn't pay as well, who cares. Job's a lot more interesting.
I agree. What type of firm are you with? Why not recruit now post-stub?
Lots of money in graphic design. All those guys are millionaires after minting some NFTs
I am a first year analyst at an MM. I've started to hate this job the past couple of months and see myself giving my 2 weeks soon. I don't have another job offer yet, so would it make sense to stay in IB even though I am miserable?
2nd year associate (about to be a third year in a week or two).
Leaving M&A. This sucks. It's 2am and Im grinding on model; people won't stop calling me at 2am...tired of people thinking thats normal behavior to have a phone call with a subordinate at 2am. In my previous career pre banking, if someone called me at 2am its because someone died.
Really disappointed with my bank. I was told the first two years would be hard but it would get better. It's not getting better. It's getting WORSE!
Add to the fact that several of my close associate friends have been fired/pushed out of the bank for super minor mistakes that most new people make, and I have realized there is NO ONE looking out for you. I'm still in good standing with the firm, but its all fleeting, never know when I'll be next!
What type of firm? BB/EB/MM?
bb (update my post above to be associate 2)
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Making a similar move, altho from CB to DCM. How was the workload/pay at your shop's CB team?
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Leaving for the buy-side after bonus hits. Comp has been embarrassingly low across the board, and no salary bump last summer was the icing on the cake.
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