Question - Quitting 6 Months In
I'm currently in the first year at a private equity firm. Did the whole two years of IB.
Sadly, it's been an absolute professional and personal wreck. I have never witnessed a more dysfunctional team but even more so a dysfunctional direct manager. The manager possesses a unique combination of being able to micromanage while being passive aggressive, negative, belittling, and condescending. The majority of my time at work is having to read through her step by step emails she thinks "may be helpful" because God forbid I stray from her instructions that doesn't impact the work and I have another stream of her emails belittling me. If she's in a good mood, I have listen to her verbally complain about how other firm employees don't deserve to be there. I've tried everything including managing up, communicating what I'm working on, politely nodding, changing the conversation topic to the work at hand and none of it has worked.
I have been networking with great results for positions that are hiring that would fit within my specific interests, but the processes are bespoke and teams are currently in no rush to immediately hire. I feel like I am stuck. Am seriously considering quitting in a few weeks and take the summer off.
Thoughts? Any and all advice, comments are welcomed as I'm losing a grasp on any form of professionalism at this job.
Not what you want to hear, but it's always easier to get another job if you're still employed (vs. unemployed/on break). As someone who has done a fair amount of lateral hiring, I look at unemployment as a red flag (granted maybe that's just me).
On top of that, off-cycle/lateral opportunities aren't always immediate start, so I'd rather hire someone knowing that they'll get a bit more experience before they leave their current gig (and stay plugged into the industry) vs. get rustier while we wait to onboard them.
Where can I send a CV?
If you're serious, (unblinding myself) PM me.
OP here. Thanks for your comment. Unironically I love hearing things I don't want to hear (I love supportive friends who will support no matter what but don't have industry context leading to poor advice). So this is very helpful, just to read this advice.
Think I stand somewhere in the middle. Going to last as long as I can but be okay with leaving especially if I start considering non PE opportunities
There’s this Bain consultant on TikTok that quit PE after 4 months. Noted that it was a good decision so take that for what it’s worth.
Can you link this, I want to see. Thanks.
@lepomjames on TikTok
I would not consider quitting unless you want to exit PE all together. If you want to stay in PE, I would consider lateraling as it sounds like your firm has shit culture.
Hopefully not, but I just may. This team has left such a bad taste in my mouth. I hate to admit it but I hate the person I see myself becoming because this is my first, real work experience in PE and starting point of reference. I would have to be convinced otherwise a team has a homerun culture
You’re definitely not stuck. Never seen a hotter market for laterals. You feel stuck because you are depressed and burnt out, and that’s how that feels. But you can definitely get another gig at a better firm.
Thank you for those words. Definitely burnt out. I find myself becoming very short tempered and more stressed to do the most basic of work tasks. Hopefully I can last until I line something up...
This is why I refuse to work for women
I've worked for more terrible men like in OP's description than women.
Men are the norm in banking and a rising tide lifts all boats, so plenty of deadweight VPs and SVPs. Never seen a woman who couldn't carry her own weight. Might be hell to deal with but at least competent. Can't say the same for horrible men.
It's terrible. I feel like so many companies have lost their souls and company culture by way of covid and return-to-office, less the original culture. I had a different, although similar experience.
I left, want to return to Private Equity, but never want to experience these things again. It's not just typical bureaucracy anymore, its like a permanently frustration-embedded culture though cultural shifts starting with covid and labor shortage, and lack of willingness and short-fuses on investing in professionals due to everyone jumping around. More often than not, through corporate speak and self-defensive work-stream assignments.
It has tainted what I am passionate about to its core and I struggle to see a happy life, growth, and advancement in these new cultures. I'm not ignorant or oblivious to the demands of the field, but participating in these new zero-sum experiences leave me extremely hesitant to even return. Honestly, I don't trust anyone anymore... Lost now as a result, which leaves me with a now useless skillset.
Thank you for sharing. This summarizes how I feel about investment banking sometimes. I absolutely loved the work but never want to go through the experience I had again due to what you eloquently summarized above. Godspeed
Hi OP, I wanted to let you know I can relate. I recently joined a lean Corp Dev team and since then it has been a bit of a nightmare. I wont bore you with the details of how are situations are similar, but long story short, I knew the broader team would not be successful, and therefore neither would I. Similarly to you, I was able to get the ball rolling with interviews at just the four month mark, and am now on my last week before switching to a much better team / role, Honestly it is a tough decision, but right now there are plenty of firms hiring for Corp Dev / PE Associates, so I think pursuing a better role is the only option. Your manager sounds like a psycho, and the type of person who doesnt get better with time. You have 2 years at the same IB I would assume, so one six month switch does not reflect on you, but the firm you joined.
If helpful, I was candid in my interviews that the role did not meet my expectations and certain elements were completely different than what I had discussed in my initial interview. I also politely said I did not believe in my current Corp Dev team, and explained how mentors advised me to consider roles that were a better long-term fit. Hopefully you can use my approach as a data point to craft your own answers.
Good luck, and remember with how hot the M&A market is right now, you should be able to lateral within the next year relatively easily.
Appreciate the thoughtful reply. I think you summarized my thoughts towards the role nicely that can be shared in interviews going forward... hopefully the next place will have some more sense of professional development!
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