Lateral analyst in trouble
Hey all, I recently lateraled to another bank focusing in a different product group after finishing a year at my old bank. I’m quickly realizing that I’m in over my head, my previous role moved at a much slower pace and was no where close to as technical. It’s been 3.5 months and things aren’t getting better.
Thinking about starting to recruit for a role in the same product group I was in before but at a different bank. I know it’s early but I think I need to get out fast. Has anyone been in this situation before? Looking for any advice.
FailedLateral, hey, look at the bright side, at least you didn't get a ton of monkey shit thrown at you...here is my best guess on threads that might be helpful:
Maybe one of our professional members will share their wisdom: Pitbull Class Tucker.Cross runNYC11
Hope that helps.
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I'd think another lateral move should be a last resort. You'll have some tough questions to answer about why you want to move again so quickly, and even if you succeed your resume will show three different analyst positions in under two years. It'll scream out that you don't stick around and/or couldn't hack it.
Feeling overwhelmed after 3.5 months doesn't mean you're forever doomed to fail in this role. How bad is it really? Are you way behind your peers? Getting negative feedback from managers? Or is your team ok if you struggle early as long as you show improvement? Finance isn't rocket science. You can learn technicals on the job if you grind at it. Your life might suck for a bit while your job kicks your butt, but taking your medicine now could save you a lot of pain down the road.
Words of wisdom here. I would hope that, after some time, at least one of your peers would be receptive to a heart-to-heart discussion on why the job isn't working and you can discuss what can change or what Antiaverage said with switching to something more suitable.
If you're going into the same industry, I'd hold off for a while.
I second RobberBaron's advice. It's rare and refreshing when someone who is struggling admits it instead of trying to hide it. Find the most sensible person in your group, whether associate or VP (or even more senior, in the rare case where a senior person stands out as very understanding compared to the associates/VP's). Tell them you're committed to getting stronger technically, and are willing to sacrifice your already-limited free time to get there. Don't ask for any favors . . just tell them you want them to understand that you do realize it's an issue, and you're hell bent on fixing it.
Look at it as a growth opportunity and grind until you make it.
I'd bust your ass, find an Associate or VP who is willing to give you no-BS feedback, take it to heart, and try to make it work at all costs.
Worst case is lateraling, but it can add 3-4 months of runway for you.
If you're failing because you're just not able to do the job physically, then consider busting your ass and asking an MD for a ref for a good corp dev job. If you prove you're mentally top-tier but your body isn't holding up, people will get it. If you're just slacking, no one will care.
End of story - make sure everyone sees that you're putting your all into it.
Second what HighlyClevered said. First off - assess the situation. Is it noticeable that you are behind the curve, and how is it taken by your team - is it just matter of fact statements (like “hey, we need this faster”) and everyone is just busy chugging along or have they shown any annoyance/ frustration with your speed or work quality?
If it’s the former, I think there’s an understanding that you need time to ramp up (but you are expected to do so soon). If the latter, they felt you should have gotten the hang of things by now or there is a misunderstanding of your technical background coming in.
I like Antiaverage’s idea of finding someone that will provide you constructive feedback, and making sure people know you’re busting your ass to improve/ramp up. I think in either scenario you’re asking for how you can improve faster, but the tone would be different. If they haven’t said anything about your speed/output, it could be a way to show that you’re observant: “hey x, I’ve been here ~3 months now, and I’ve been getting great exp/exposure... but I recognize it’s a faster, more intense enviro than my prior bank. I want to make sure I’m up to speed, do you have some tips, areas I should focus on...”
If they have shown annoyance at you not being up to speed, it would be a similar discussion, but you are owning up to it: “Admittedly, it’s more intense vs my old role and I haven’t gotten up to speed yet, but this is what I signed up for, and I want to get up to speed ASAP. I’m willing to put in extra time & effort. [then ask for constructive feedback / where to improve]”
Interesting you say this. I get the perception that this is actually more common then people think/realise based on thoughtful response ITT.
I think its a multitude of factors - firstly who you work with and how they are in terms of wanting to help you out/help you learn/ability to get on on a personal level with you, then what you are actually working on e.g. if you are doing the marketing vs doing some bespoke analysis.
I think even c. 3 months is too long to wait it out for issues to be resolved, by then damage is done. I would start to ask after 1 month, 2month, 3month. Having saidd that you create a bit of a dynamic where you then are really emphasising the distance between you and your associate e.t.c
Keen to hear what others thinks, how others coped
In reality, the best time to ask questions and establish a relationship where there’s open communication and follow up / feedback loop to improve, is the start/earlier in the new role. Because that way you set a precedent for someone “asking thoughtful questions” and it’s easier to ask “stupid questions” because you are given a grace period to get up to speed. It’s much harder to do this 3 months out, because you haven’t set the precedent and questions you ask could be seen in a different light, like... “this is something he should have asked earlier” or “he should know this by now”. Conversely, if you have established yourself as asking questions and following up with improvements / greater responsibilities, then you asking questions would be seen in a positive light - “he is intellectually curious” or “she’s not afraid to ask questions, and follow through”.
But given he hasn’t, you gotta make do with the situation you have. I think it’s still possible to change the narrative (just harder because changing first impressions is harder). But if he can find someone that can provide no-BS tough love but still be supportive, and he also busts his ass (and make sure others can see he’s putting legitimate effort), he can definitely turn it around.
I generally agree with the comments above about approaching someone. But I wouldn't exactly pitch it as "asking for feedback" as many have said. That's close, but to me it's a tiny bit different . . you recognize there is an issue, you have an initial idea of how to deal with it, and you'd like to let them know. If they have feedback on that, they'll give you feedback. I'm sure I sound nitpicky but my concern is that if you just say "I'm asking for feedback" it could come off as you not being proactive enough. Like you want everyone else to do the thinking for you.
Yes, I did say that you’re trying to be more proactive and get ahead of the situation, but the “ask for feedback” piece is really more to have a conversation on areas you feel you can do better, and you’re seeing if they have suggestions on top of your obersvations.
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