Resigning and notice period

Gini's picture
Rank: Orangutan | 267

Hi all,

Quick question for anyone who has been through this. I am going to quit my job at a major BB at the end of Feb. I just don't like it and have always wanted to take a few months off to travel. My notice period is 60 days...do you think they will make me serve my notice period or will they just ask me to leave right away? I really hope it would be the latter...it would be super awkward to sit there for another 2 months and I would have nothing to do after I resign. I know if I was leaving for another job then for sure they would make me leave right away, but since I am just quitting to take some time off, I am wondering if anyone has an educated guess of what will happen.

Thanks in advance!

Comments (21)

Jan 30, 2014

If you're in FO within the IB division of a major bank you can tender your resignation and cease working the same day. In fact, I've never seen an unannounced departure happen any other way. Obviously there may be positioning you want to consider (how will your teams react, etc.), but if you want to leave tomorrow, all you have to do is say so.

Jan 30, 2014

Good to know, I have never seen someone resign just to take time off, so I have no idea how they would treat it. I am in an FO position in IBD at a major BB, so I definitely hope I can leave the same day and don't have to serve my notice period. Nobody will see my resignation coming and I am sure they will try to talk me out of it, but it wouldn't really impact anyone's work really. I just want to make it quick and get out, I have thought about this for a very long time, so no second thoughts on my part.

    • 1
Jan 30, 2014
Gini:

Good to know, I have never seen someone resign just to take time off, so I have no idea how they would treat it. I am in an FO position in IBD at a major BB, so I definitely hope I can leave the same day and don't have to serve my notice period. Nobody will see my resignation coming and I am sure they will try to talk me out of it, but it wouldn't really impact anyone's work really. I just want to make it quick and get out, I have thought about this for a very long time, so no second thoughts on my part.

To the extent you don't care, just make up a reason. People quit without near-term jobs lined up all the time, you'd be surprised. I've seen people leave in the middle of their second year just to take 6 months off before going to the buyside or another role. I've never seen or heard of anyone asked to serve out their notice period.

Jan 30, 2014

Yes, I have been thinking of making up some reason why I am resigning, like a better personal reason than just that I want to go traveling. I don't want them to try to talk me into taking a leave of absence or something, I just want to quit. I have worked for 5 years and just want to take 6 months or until the end of the year off to travel and do some other things that are important to me personally. I am pretty confident that I will find a job again after that. But I have a feeling this reason will not go over too well, lol, and I really want to avoid some lengthy discussion. But if it's just for that one day and then I don't have to come back, that would be ideal.

Jan 30, 2014

i feel like this is a terrible idea.

but ya. fuck the reason- all you have to do is tell them you quit and they will escort you out.

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Jan 30, 2014

Tell them that you've always wanted to travel and you've never had the chance since you started working. You've started doubting yourself and what you want to do with your life and because of that you feel that its starting to leak onto you work ethic. If you level with them, they should understand. Explain to them how you know it can have severe consequences on your career and that you dont want to appear selfish by leaving the group, but you need to do it for you.

Jan 30, 2014

I think you're overestimating their reaction. People come and go all the time in this industry. I've never heard of anyone having their superiors trying to talk them out of leaving in this industry.

Jan 30, 2014

That's probably true. I hope I am. I have never resigned from anything, so this is kind of freaking me out. But probably I am over thinking the whole thing and it will all be super simple.

Jan 31, 2014

While this is coming from a recent college graduate who hasn't even been able to land a full time job, I just recently left an internship to go to another internship (due to better long term opportunity). It kind of put the previous internship in a shitty place because it was a small shop but everyone, analysts up to managing partner were really courteous and understanding. I'm sure if you have a good working relationship with your coworkers it will go smoothly. I can definitely relate to you with regard to freaking out but the feeling after you quit is just 100% relief. Just look forward to that lol..

Jan 31, 2014

bump

Jan 31, 2014

I don't see the harm in disclosing it if asked, whereas if you lie and they find out that would look bad

Jan 31, 2014

It that like a governmental-policy? R u international student?
I'm kind of in the same situation -- what I heard is that this normally is only part of the procedure, meaning you don't need to worry to much. Don't know if it applied to Business sector

Jan 31, 2014

Very common. Usually they pay you your base salary during this time period and make you sit at home. Also called 'garden leave' or 'gardening leave'. Just a little something for them to recover after you leave, have you on call if there are any questions, and make you just a little less attractive to future employers. If you're in a non-client facing or trading type role, they may make you work during that time frame. The more you deal with things that can cost the firm money the more likely you are to be sent home immediately. But you still can't start your new job until your garden leave is over.

You can often get a waiver if you are leaving the industry entirely. It's done solely for competitive reasons.

Jan 31, 2014

What level are you? Very common for more senior people but analyst/associate level that would be very strange

Jan 31, 2014

The position is for an Analyst role; however, it is a unique scenario. This bank is growing this group and I am being brought on close to the ground level... I think I might be the only Analyst for two offices once I start.

Jan 31, 2014

.

Jan 31, 2014

I was a buy side trader and my company required 90 days notice but also had an employed-at-will clause. The day after i told them i was leaving they cut off my trading privledges so i couldnt do any work. the next day they told me there wasnt much use for me anymore and i could go home. They would continue to pay me for the next month and pay my upcoming bonus. They very gracious in my departure and i feel i was treated very well, that was just their process tho.

In conclusion, i think the rule isn't something they really enforce unless absolutely necessary. They dont want someone with another job lined up sticking around to do shitty work for them for 2 or 3 months.

Jan 31, 2014
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