Health Issues and Bad Reviews - Time to Leave?
Has anyone had to take medical leave / had a medical condition that impacted their job performance? Last week I found out I might need surgery that would put me out of work for 1-2 months and simultaneously got poor reviews / bottom bucket.
I was encouraged by the senior bankers that my work related problems would be easy to fix, but it’s clear I’m better off lateraling to another bank or moving to something more laid back on the corporate side. Would it be better to take the medical leave at my current firm and risk getting axed (later this year after my leave is over) before I have another job lined up, or try to make a move now and hope my next employer is okay with me taking a leave of absence early on?
My firm doesn’t have a great brand name and it seems more difficult to get a job once you’re unemployed, so I’m worried about the risk that I get cut in 6 months and can’t get a new position with how the job market is.
Any advice would be helpful here, haven’t told anyone about my health situation yet.
My advice is to take what medical stuff you need now. You already know that these guys are not going to retain you, so it's kind of house money at this point. I would go full bore on recruiting for your next role and doing the medical stuff you need right now. Why take a bath on the medical stuff with the new employer when you are trying to make a good first impression? Take care of yourself now, and hopefully you'll be in a position that you don't have to ask favors of your new boss and can just focus on impressing.
EDIT: Lateral market is also pretty healthy, so I don't get your point about market being bad. There are lots of roles out there.
Based on the most helpful WSO content, here's what you need to consider:
Taking Medical Leave at Your Current Firm: If your health condition requires surgery and time off, it’s crucial to prioritize your well-being. Taking medical leave at your current firm might provide you with the time to recover without the immediate stress of job hunting. However, as you mentioned, there’s a risk of being let go after your leave, especially if your reviews are already poor. This could make lateraling more challenging if you’re unemployed.
Making a Move Before Taking Leave: Transitioning to a new role before taking leave could be a viable option, but it comes with its own risks. Starting a new job and immediately requesting a leave of absence might raise concerns with your new employer, especially if you haven’t built trust or proven your value yet. Transparency about your health situation during the hiring process could help, but it’s a delicate conversation to navigate.
Job Market Considerations: You’re right that it’s generally easier to find a new role while employed. If your current firm doesn’t have a strong brand name, it might be worth exploring opportunities now, especially if you’re considering a move to a more laid-back corporate role. However, ensure you’re not rushing into a new position out of desperation, as this could lead to further dissatisfaction.
Strategic Approach:
Ultimately, your health should be the top priority. If the stress of your current role is exacerbating your condition, it might be worth considering a move sooner rather than later. At the same time, having a clear plan and financial cushion can help you navigate this transition more confidently.
Sources: When would you quit?, Quitting due to health reasons, Burned Out - Quitting w/o an offer?, Quitting IB in 2023 - Burnout, https://www.wallstreetoasis.com/forum/private-equity/leave-pe-early-or-stick-it-out-2-years?customgpt=1
Seconding what was already said by the other commenter. Take advantage of the health insurance and benefits provided by the firm while it's still available. I was severely injured in an accident a number of years back in my first role, and it was so bad that I was unable to work and knew it was only a matter of time before the firm would look to let me go for performance issues. Thankfully I was able to get treatment done while I still had coverage (nightmare in the US if you don't have coverage), although in hindsight I still waited way too long to actually get treatment and let my condition deteriorate first while trying to look for solutions to keep my job.
Yeah the job market has been kinda crap for a while now but ultimately health is what comes first, you only get one body and as long as your body is still functioning then you can keep going. Don't be like me and put off treatment until it's too late, I regret it to this day because it limits what I can do my day-to-day life and has restricted me from pursuing certain career opportunities due to permanent lingering health issues.
Thanks, this is the advice I needed to hear but still feels strange thinking about stepping away from the grind and potentially getting pushed out because of it.
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