How do you let your firm know you are leaving?
I work for a very small firm and we are a very tight knit group.
I received an offer for a larger firm in a nearby city.
How do I let my current firm know that I am leaving? Do I offer a 2 week notice?
I don't want to burn any bridges and value their relationships very much
Reasons for leaving are: Higher comp (Current firm is smaller so can't pay as much), larger team, fast growing fund, better brand name
I would assume that the best advice is to be honest with them (maybe not mention comp) but do I offer to stay on for an additional 2 weeks to sort things out? Or would I just offer to be reachable through email? New firm wants me to start soon, but I would like some time to take care of personal stuff / travel.
Much appreciated
If you work for a small and tight-knit team, (and assuming you like the people) two weeks is not enough time IMO.
Understand with recruiting you don't always have the best visibility but I would generally give a month so they have enough time to back-fill your position. Hopefully your new firm is understanding enough that you can still take a couple weeks off + the one month notice.
I appreciate the response, thank you
My last job I worked for 4 weeks after giving notice. Whether or not to give 2 weeks notice at the minimum shouldn't even be a question in your mind. All new jobs want you to start right away- you make a better long term impression by being professional and giving the minimum notice of 2 weeks.
Were the 4 weeks just very awkward? Were you expected to do something different? Did you create some sort of transition plan or were the other associates able to pick up your work?
Thanks, I appreciate the response
The 4 weeks were not awkward as I had worked there for 19 years so I had a lot of respect for my coworkers as well as they did for me. It took time for me to wrap up what I was working on and I left on very good terms out of respect for myself, my coworkers and the clients in my portfolio.
DO NOT offer to be perpetually reachable, they're not paying your salary anymore.
I have always typed up a short "letter" saying I'm giving my notice effective on this date, thank you for the opportunity, and signed it and handed it at the end of a conversation. This gives something for the file if they need it and doesn't allow for miscommunication.
Grab your manager and tell them you'd like to chat. Tell them you're giving your two week notice and thank them for the opportunity or whatever. Before you go in review your employee handbook to see the relevant policy and type up a transition plan (so you look like a team player). During the conversation, say you have prepped a transition plan and are willing to work with whomever to make sure they understand what you've been doing prior to you leaving. Don't say too much, they're not your friends.
Be prepared for them to counter and have a response. Be prepared for them to tell you to pack your shit and get out - it happens and it shocks people sometimes.
Remember, even if they're cocks about it (once had a manager tell me he "never wanted to hire me anyway" - he was a little bitch) you're on to bigger and better things.
Good luck.
Since the received the most bananas, I am guessing this is the best /standard response?
I understand cutting things off and that I am moving on to bigger and better things, it is just hard to leave them hanging considering they are stretched thin and no one can really pick up my role. Like I said, I really enjoy working with them and they treat me very well, I am just moving on, but would like to keep in touch with them and have them for references in the future.
Were you expected to stay a minimum of 2 weeks before you officially left? How were those few weeks?
Depends, for the two back office roles I had I was expected to stay the entire two weeks. One was very friendly and it was just sitting with people and showing them my processes. The other was very contentious (they wanted 4 weeks at the associate level, I told them to fuck off), so no one spoke to me outside of showing them where to find files. This place was a well known bank, super toxic culture.
For the front office role, I stuck around for a few days in office, then handed in my laptop and told them they could reach me by phone until my notice period was up. I was still friends with the guys there so if they needed anything they shot me an email for the next few months and I helped them out.
Where I'm at now, if people are going to a competitor, we show them the door. If they're not, we let them hang and transition stuff quickly. It doesn't make sense to make someone stick around and half ass work.
My best advice is to be confident. It sounds like these people have been good to you, but you've also done good work for them, so don't feel like you owe them anything.
Sorry, title not updated... to be honest if you're an ASO 1 or ASO 2 someone will definitely be able to pick up your role almost immediately as you won't have proprietary senior relationships driving returns, carry (most likely) to worry about, etc.
I would just do what's best for you and not worry too much. Focus on that + long term relationships above the short term
Personally I once gave a 4 weeks notice and got a lot of respect from my former employer and co-workers for it. Definitely helped to keep relationships alive. I previously worked in Europe where 3 months notices are standard, which is extremely long. But I honestly think 2 weeks is not enough, need at least a month to show someone else all the stuff you’re doing. My advice would be to do 2 weeks at a minimum, but would recommend 4 if you want to keep relationships past your time there. If it’s tight knight maybe some co-workers have become personal friends by now
I am at a European firm in a US office and we have the 3 month notice period. What does this kind of mean in terms of when you should start searching for new roles?
Like when applying to new firms do you need to say, I have a 3 month notice period and a 6 month non-compete? What is the notice period really. It is defined in my contract but it’s unclear to me when I should start searching for new roles with such a long notice period as I don’t want to leave without having something lined up.
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