Leaving IB after 1 Year
I have decided to leave IB after I receive my bonus, it just isn't for me. What options do I have job-wise? I don't plan to leave until I have something lined up. What should I be looking for / expect?
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Also planning on leaving! I've already started interviewing at a few places. I might stay though if I'm able to switch groups otherwise it's goodbye.
Is it the hours, group dynamic that’s making you want to leave? Sorry to hear but I would imagine you’ll have plenty of opportunities.
It's the group. Culture sucks.
Wait, you've been in IB for a year and don't have much of an idea as to what your exit opportunities might be? Hmm...
Corp dev + corp strategy are pretty common at 1 year, also see a lot of people doing "strategic finance" type jobs at startups. Other ideas are asset management, commercial real estate, investor relations, FP&A, generic corporate finance.
Assuming you don't want to do PE but PE analyst/early associate at a MM is also out there
If you have time until bonus, start looking at job postings now / maybe do some informal networking calls if you can find any alums, just to get their take on the career path. Lots of these will run through LinkedIn job search from a company posting, not recruiters, so don't wait around for it to fall into your inbox. Look for analyst or lateral analyst jobs, the associate jobs are aimed at people coming out of a full banking program. You can still apply but your traction will be lower.
Also prepare yourself for a healthy pay cut, your total comp will likely be $100-125k in all of those roles except PE, maybe a little higher in an acquisitive corp dev but still not near banking.
I would also add on Corporate Banking to that list. The pro is much more relaxed working hours and great work life balance. The con obviously is that one would be taking a significant pay cut over their career.
Definitely agree. Just avoid any banks that bucket corp + investment banking together, CB tends to work close to IB hours there
Lovely username man
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