Quitting without an offer?

Let me get this straight (based on post history). You worked in ratings agency at one point, presumably joined a BB because you were asking about "should I join boutique or BB," people said BB, and you didn't respond on that one. Now you've been working for over a year, are in your second year, and feel burnt out. Let me know if any of this is invalid, because I'm going to operate off that framework.

First of all, if financial considerations are material to you, a lot of those boil down to when bonuses are paid. Were bonuses just paid in December, January or February because of some calendar-year construct? If so, you don't have to worry as much about your behavior now blowing up your bonus, because that check has presumably already cleared. If that's still outstanding until the summer or something, then it may be worth it to keep up appearances until then and not let people know the jig's up.

It also helps to dig in on what burnout we're talking about here. Is it interpersonal because you have to deal with a sucky coworker? A sucky boss? Don't like the clients you're dealing with? Boredom? Overworked? Most of the interpersonal ones can be somewhat addressed by zoning out a bit and either avoiding people or phoning it in more. Same with being overworked. Boredom is generally fixed with a mindset shift. if only temporarily, that not all things necessarily have to be interesting. 

Depending on the answers to the stuff above, the strategic calculus then becomes two things: 1) how reliant are you on needing a reference from these guys? and 2) what sort of runway do you have / can create through positioning while you get a new job?

On 1, if you're recruiting for a new job, you can always point people in the direction of the ratings agency if they want a reference, no? And tell them that your old bank doesn't know you're recruiting yet, so you can't hand out their information. If you're not trying to go for IB/HF/PE, the reference is also less likely to be useful anyway. Secondly, depending on whether you're at a BB or a smaller boutique, the BB is likely to be more boilerplate about the references they give anyway if you're going through HR. You should also consider if you have any ally Associates or especially VPs or Directors who could go to bat for you even if the MD relationships get dicey through the other stuff you end up doing. This will give some operating flexibility, but you need to be good at reading how much people like you.

On 2, how much are you willing to dip into savings to support yourself? Are you able to move back in with your parents? Is that something you want to do? Do they live in the same place as where you work? What lease payment structure do you have? Can you either sublet the space to someone or come to an agreement ($) with the landlord on ending the lease early? Does the landlord have an obligation to mitigate damages by finding a new tenant quickly, taking the burden off you? How much of a gap are you willing to take on your resume? The synthesis of these questions is your runway, generally measured in months. Then there's your emotional runway. If you coasted and didn't do 100% of your job and phoned it in, how many months could you emotionally tolerate that? At what point would someone end up firing you? In your legal jurisdiction, what forms of paid leave are there? Is there paid medical leave (PFL/FMLA) for attending to a chronically ill family member? Is that something you could justify with a doctor's note? In some jurisdictions, that can give you an additional 3 months at 2/3rds pay, and it is illegal to fire someone over it. Could you continue phoning it in for a stretch past that paid medical leave? What amount of vacation do you have? How much does your employer value not paying unemployment insurance premiums, and how much would that pay? That's worth another 6 months potentially. 

I know I've asked a lot of questions, but that's because I tend to think strategically, and there's quite a bit of a stall-out game here. Quitting is also often strategically inferior to getting laid off and being eligible for unemployment in many cases as well, as employers can sometimes be slow to pull the trigger even when people are seriously slacking. Basically, phone it in time + 3 months leave + phone it in time + unemployment = really long time in many instances, with only the last 6 months being not working on a resume, giving you a long, long time to find another position.