I've made a huge mistake
I'm now a 2nd-year analyst in London at a BB in DCM. About 6 months ago, I lateraled over from an NYC office at another bank where I had spent 7 months. I went to Oxbridge and my friends from uni were all in London, whereas I grew up in [2nd-tier finance city: SF, Chicago, Boston]. Not to get into my likes/dislikes, but NYC was not for me and I got there without knowing very many people and never really felt settled which is why I jumped at a chance to move to London when a friend there referred me for an open analyst spot.
Anyways, there are some personal things going on (I also don't love my new group -- 15-hour days but way more facetime than at my old...I should be going home at 8pm most nights, not 11pm) and I've been thinking that I'd like to go back home and settle there long term. I'm looking to do that after I finish my 2nd year here, so basically I'd like to be back sometime between next June and September. I have a few concerns:
A) How flaky am I going to look? My story is that I wanted the NYC experience but it didn't pan out so I went to London where I was happier, and while I always wanted to come back home, personal reasons (don't feel I need to elaborate on this) have led me to return sooner than I expected.
B) How early should I be connecting with headhunters for a job? My ultimate goal is something on the buyside, specifically in distressed debt/credit investing/lending. While I don't need to be working at a megafund (I'm starting to realize that sacrificing my life for a few extra thousand as an analyst isn't worth it...I'd be perfectly happy making $140K at a small no-name firm) I know that might be tough out of cap markets and was thinking I should also look for lateral spots in traditional banking groups so I can get some more relevant exp.
C) I guess I can always try to transfer internally, though the office my bank has at home is relatively small, so how does one go about doing that without pissing people off? Keep in mind I've only been here a year so it's a delicate balance of signalling early enough that they keep a spot for me but not so early that they're like "WTF you just got here."
You mention you don't want to talk about the personal issues but that might be your saving grace if they are remotely reasonable. If it's something like you had your heart broken by someone in London, I'd say that's not legit. If you have family concerns back in the states no one will fault you. You can easily spin it like this:
"Although I have really enjoyed my time in London I have family issues, of which I don't really feel comfortable elaborating upon, and I really believe I need to return home. This was unexpected and obviously not what I wanted to occur but, ultimately, I need to do what is best for my family."
No one but a cold hearted sonofabitch would have a problem with that explanation. That's only if it's true, though.
Finish a year in London and follow the advice above. Should be good to go. Also, maybe you can soften the blow by lateraling internally in your BB; they like to keep you in the system.
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