Starting IB next Monday

Hey all, need some advice here. Incoming analyst at a global IB firm starting next Monday. Very stupidly have yet to quite my current job for various reasons. The first week at the IB is pre-study/ pre-work time that is remote and in my head I would love to give my two weeks on Tuesday and finish out my day job after spending 9-5 doing the pre-study time for the FINRA exams without telling the Investment Bank. Does anyone know what IB typical employment rules are? I am assuming that you have to run other business activities by them, but considering I am not on the desk I am wondering if I can somehow get away with this without asking HR or stiffing my current employer on short notice.  I know I am an idiot for putting myself in this situation in the first place but anyone ever run into something like this or have any advice? Would prefer not getting HR involved unless I have to but also do not want to get fired from the IB for violating policy once I quit my current job.

Comments (16)

  • Intern in PE - LBOs
Jul 4, 2022 - 11:17am

What was your damn need to do that...

I, personally, don't see a way around talking with HR - unless your current job requires ~20 h/week.

  • Incoming Analyst in IB - Cov
Jul 4, 2022 - 11:20am

I can do my current job in a few hours after work it's fairly easy and low stress. Do you know if this is legal within a banks policies or if that won't matter until I hit the desk?

Most Helpful
Jul 4, 2022 - 12:00pm
Smoke Frog, what's your opinion? Comment below:

I understand your desire to try to earn every penny you can as a young kid, but this situation has small upside vs massive downside.

If you're bank finds out you have not quit and are working another job, it could void your contract, be cause for dismissal or at the very least cause your team to think your sneaky and underhanded.

Your best course of action would be to simply tell your current firm you're done and abruptly leave. Your just an analyst so it's not like your integral to their operation and they can't overcome your unexpected and quick departure.

Yes, you may annoy them and potentially burn some goodwill. But that's a much better downside scenario then getting fired from your IB job before you even really start.

Trust me, the upside here is a few pre tax dollars and the downside is much more ruinous.

  • Incoming Analyst in IB - Cov
Jul 4, 2022 - 1:06pm

At this point I just want to avoid burning bridges with my current employer without my IB job getting canned. Do you think it's worth bringing up to IB HR and phrasing it as I need to finish a project that will be wrapped up by the end of week 1? The entire first week is remote so on my end this is completely doable but just don't want to get canned.

I could either see HR not really caring or could also see them rejecting the idea

Jul 4, 2022 - 4:04pm
IncomingIBDreject, what's your opinion? Comment below:

You've waited too long to have both your cake and eat it too. Listen to Smoke Frog here his advice is very good.

Array

  • 2
Jul 5, 2022 - 2:15am
The EBITA addback, what's your opinion? Comment below:

You'll be in violation of one or both of their employment agreements if you do this. You need to quit your job. Banks don't let you work for 2 shops at the same time and I'm sure that info was included in your onboarding. 

Like the unadjusted- only with a little bit extra.
Jul 4, 2022 - 5:51pm
JRswede, what's your opinion? Comment below:

It's standard in each contract that all professional / extracurricular activities that might interfere with your job must be approved by the bank. Hence you give your bank straight up cause for being fired.I had this somewhat happened to me (despite telling my bank about it 10 months ahead). I was forced to leave despite 3 managers on different levels fighting for me. Compliance / HR was ruthless.

EDIT: even if you would seek approval you probably wouldn't have time to get an answer + you would look very irresponsible to your new team.

Jul 4, 2022 - 10:43pm
Isaiah_53_5 💎🙌💎🙌💎, what's your opinion? Comment below:

Yo dude, reduce your anxiety levels and drop this other job before you start. It's not brain science. 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

  • 1
Jul 5, 2022 - 2:03am
johnny-mnemonic, what's your opinion? Comment below:

You're gonna have to sacrifice your rep at the old job to make sure you don't start your new one on your heels. Yeah your old boss might be a little pissed but he can't force you to work. Your new job needs you to be available and definitely don't want to know about any obligations that you shouldn't have.

  • Analyst 1 in IB-M&A
Jul 6, 2022 - 10:33am

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