I think my MD is an idiot, should I walk?
Title says it all. I don't trust my new MD to be our leader, but I've been at the bank for less than 12 months. He talked a big game when he interviewed me and it sounded promising, but now that we're working together I've come to the unfortunate realization he is all talk and does not know what he is doing (has made it to the MD level by peers quitting, not his success). I do not think I will learn anything from him that I do not already know.
How long should one wait until making a lateral move, considering I joined 12 months ago? Or is this a crazy thought? Feels like I made a huge career mistake
I know of atleast two MD's at a top BB that don't know how to use Powerpoint. Not a troll. They get paid millions. Your MD's job is to bring in clients so you guys can all get paid. If they are succeeding at that, ngl nothing else really matters.
I think OP is questioning the MD’s ability to bring in business - if not, would echo the above and would add that in my experience, it’s a happy bonus if an MD is able to mark up comments in PPT or Word.
OP, I’ve been in a similar situation in terms of trying to move firms with a few years of experience under my belt, but only a few months of experience at the current firm. I would expect a lot of focus on your reasons for leaving after such a short amount of time, esp.
Aren't like 80% of the MDs incompetent in MOST areas? Many might be good at sales but most I know fall short in everything else (e.g. leadership, deep understanding of finance, etc.).
Well in tech my MDs have a pretty good understanding of their focus areas. Know all the different players, trends, past processes, etc. Have a pretty good ballpark guess of almost anything you could ask in their sectors
wtf how do they make mds than
Banks drive around a van on the street and pick up anyone they see.
MDs are there to bring in clients. They might know jack-shit about the kind of work that you do. He might not even know what to tell you to do, but it doesn't mean that he's not good at his job. Stick it out. If you think that this man is truly that incompetent and it is really so negative that it is affecting your career, then consider a lateral. But I would think very hard about your premise, not just assume your MD is some total incompetent asshole.
WTF? The MDs who were from Analyst -> MD should be super sharp.
You all must be working with rookie MDS
The cream of the crop moves to the buyside
If there was a WSO for MDs, right about now there might be a post that reads 'New analyst thinks he knows it all. Should I fire him?'
you're closer than most of us to MD, time for you to start making threads like that !
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