Hi guys,
Need some advice here as i found myself in a real dilemma. My career was progressing really well. I never thought i would stumble into this kind of situation.
Apology my story is a little long.
A little background about myself, i work in Treasury and have been out for 3 yrs. Now i am a Treasury Manager in a large corporate.
At the beginning of this year, i have started a new job with a nice big promotion jumping two grades to the management level at a new company. It came along with a huge rise in my pay cheque along with added responsibility. But the learning curve proved to be steep for me and i was told that i failed to pass the probation at the end of the 6 month mark. My manager saw that i was making good progress and liked my potential so have offered to extend my probation for another 3 months.
I had a review with him last week where i have 1 month left of my probation. It was clear from that meeting that there is still a gap from my performance against expectation. So its looking likely to be a 50-50 call whether they are confident enough that i am growing at the speed that will close out the gap within a reasonable period.
BUT the main problem is...I feel like my under-performance is largely due to the fact that i hate my job. I have actually started looking out for other opportunities. There are a few lateral roles that are currently progressing well. My main concern, however, is that the interviews may not move quickly enough to come to an offer before my probation ends.
So the questions are:
- Should I resign to mitigate the risk of potentially getting fired/dismissed?
- All interviewers have not asked/therefore not aware that I am still on probation. What is the impact if they find out at the end that I have been dismissed due to failed probation?
Any insight is appreciated.
Thanks guys.
Judging by your efforts searching for a new opportunity and your disinterest, I think you should resign.
btw, i'm a first year analyst and i'm curious about treasury. How does it fit in IBD? I thought there were only product groups and industry groups. I have a friend working for Treasury Services at JPM, but i dont think its ibd
Thanks
Ostrich,
Treasury product groups only exist in a bank. They are salesman who try to offer product/services that Corporate Treasury functions will need. The real Treasury function involves raising funding for the business. This involves issuing debt/equity to meet funding requirement for whatever they need for. So we would speak closely with ECM/DCM guys when that happens. On that note, we are also heavily involved in M&A deals to make sure the appropriate funding is in place to purchase the company.
Hope this helps.
chronk
Treasury fucking sucks. Trust me I have worked in 2 treasury gigs. You do not want to do it. It is not challenging, it is not sexy, it has nothing to do with investment banking. It is basically managing the different bank accounts where a company keeps its money.
Sounds like its partly management's fault for setting you up to fail.
A 50/50 chance is worth staying around for. If you get through it gives you a breather to find a good role you will enjoy, there's no point resigning without a role to go to - it's just adding pressure to yourself. But yes, in the long run if you have already started looking to move then you can't stay there long after you get through.
You've got 1 month, think of it as working like stink for a month with the payoff being after you get through you can give yourself time to get the role you want.
Why do you hate the job? If the job really sucks that much you should quit. However, you should look for another opportunity right now as you tender your resignation. Quitting to unemployment isn't as devastating as most would put it out to be.
If you haven't even made it past the probation period AND on top of that you hate the job you should resign. I say that because it'd be an easier conversation for you to explain that you left vs. them telling you to leave with a recruiter. Regarding the interviewers, if they don't bring it up then leave it that way.
What are the odds of you finding your next job quickly if you resign? If they're pretty high, then definitely resign (i.e. you better be sure your odds of finding a new job are higher than the probability you're fired if you're going to preempt this -- math doesn't always work out but you get the point). If not, then I would stick it out, it's very possible your company may let you resign in the event they're going to fire you if you're on good terms. 50% chance of being retained is pretty solid grounds to stick it out for a bit longer while you job hunt. Are you sure it's fire or stay? Could it be a movement to another role or reduction in job responsibilities?
Also, if you're fired, other companies cannot ask anything about it during background checks. Companies can only provide your length and dates of employment, so you can say you resigned, even if that's not the case. I wouldn't advise it (being honest is better, and this isn't a terrible story), but it's a possibility.
Personally I would stick it out for the next month, if nothing else to keep the paychecks coming while you search for other opportunities.
If you still hate what you're doing next month offer to resign. This will allow both parties to save face and seemingly achieve a mutually beneficial outcome. I don't see much benefit to resigning early.
Hi guys,
Thanks for your feedback.
I am hating my job everyday because it is a materially different job to what i have been told during the recruitment process. I don't see it aligned with my long term career goal of progressing within Treasury. And certainly the longer i stay in this role the more distant i will become from Treasury.
Since end of august, hiring is starting to pick back up again. So i do have multiple opportunities in the pipeline and 3-4 interviews lined up. Some already happened, some more next week. Hopefully some will convert into final round. Fingerscrossed. Cant guarantee i will get offers but can say things are progressing well after a quiet/dreadful summer.
If my company will give me the option to resign at the end, then yes i will wait out. Its just that my manager himself never invoke this process before. He told me he wasnt sure himself how the exit process will be but if on the last day, the decision was made not to take me on, then i have literally one day to be asked to leave the office. It sounds like a very cruel process. I am just not clear what will happen with this particular company when we get there. Anyone has been in similar position?
Cheers
You should check in with your boss in 2 weeks or so to take the temperature / see how it's going. If he's still sending negative signals by then you could offer to resign at the end of the probation period. Obviously, if he thinks you're making great progress then don't float the resign balloon.
If they end up firing / terminating him it could really hurt his future employment chances. A lot of applications ask if you've ever been fired. Background check firms can also call and ask "is the employee eligible for rehire?" Depending upon how his employer terminates him it could create a real problem down the road. Most companies won't f- you over as long as you go quietly/respectfully, but you never know.
Personally I would rather leave on my own terms than be escorted out the door, figuratively or otherwise.
yes it's a good idea to touch base with your boss. It shows both your devotion to improve as well as your understanding of the situation. Normal managers hate to fire people, so if things didn't turn out to be good eventually, he will be glad that you offer to leave by yourself on good terms.
Resign?
Do what every other working person does. Show up and give it your best every day until you find something better.
What do you have to gain by resigning?
Quitting 9 months into a job looks worse than being let go 9 months in. There are many reasons someone can be let go and if your boss likes you its not likely that she/he will fire you, escort you out the building by security and then shit on you every time they get a phone call from your next potential employer.
Similar situation dude, just quit my job and was mulling writing an AMA for 2nd year analyst dropouts.
If you hate your job, just quit - especially if you don't see where it's going and it's affecting you in life (depression, energy-levels, etc)
That said, unless money isn't going to be an issue, I would wait until being like 80% sure of next steps (progression to an advanced interview stage, job offer, admittance to an elite benedictine monastery etc) before taking the plunge.
Best of luck mate.
Is there any way for you to get more frequent catch up / touch base sessions with your manager? That would allow you to get better clarity on where you stand as you approach the end of the probation period.
Either way, definitely keep looking for roles. It's easier to find something if you're employed generally speaking, and if you have more clarity you could choose to leave if they decide not to keep you instead of being let go.
One thing though - you said you hate your job and you're looking at "lateral" roles. To clarify (and apologies if it got covered and I missed it) are these lateral treasury roles at other firms? If you don't like your job, would you really want to go back to something similar? I think if you're going for non-treasury roles, then resigning might not be so bad because you're making a statement about pursuing something different that you DO like, and want to dedicate the time to find the right company and role. But if it's a lateral treasury role, then it's probably better to keep it going for a bit. But even if you resign, you could just say it wasn't a cultural fit, there was a clear difference in the role as pitched vs reality, etc.
If you haven't found a job by the last day of your probation period, quit then. You'll have a better idea of what your situation is then, but from reading your post it sounds like the odds are alot worse than 50/50, and the 3 month "extension" was likely just your manager intentionally drawing out the process because he feels bad firing you so quickly. Especially if your overtime period is 2/3 over and he's saying you're still not meeting expectations, it's time to open your eyes and face the music - burying your head in the sand and thinking it could go either way is not going to help you.
No one is going to know you were on probation or that was the reason you were dismissed, if it's a big corporate then all they will confirm is your title, dates of employment, and potentially salary. But generally it's better to quit, rather than be fired, unless you need the severance. Just make sure it's not recorded as being fired for cause.
Hey there Chronk,
Sounds like a pretty tough spot.. I understand what your going through though. I can definitely relate. I was working for Triumph which is an aviation company contracted through Boeing.
Anyway, I was offered a higher lead position which of course came for way more responsibility. The only problem with this though is I wasn't happy what so ever.. I was working 12 hours a day 6 days a week leaving me with no time for anything. & while this was awesome money.. I realized it was time to make a change.
Something told me there was more to life than working my life away.. I set my sights towards that of internet marketing. I've since been in this profession so about 3 solid years.
Sorry for the long typed reply but I guess the grand subject of all of this is follow your heart! if you aren't jumping out of bed in the morning because your happy about what your doing than it's evident something is wrong.
If you're more interested in learning about my line of work my team & I have opened our doors. Feel free to check it out if you have some extra time!
shoot me a message & i'll shoot ya a link
Best of luck to you !!
Regards,
Lewis
How did you go from finance into internet marketing?
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