Life after the Buy-side?

September 9, 2012, 9:30 pm

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I currently work at a prominent investment fund (public equities) as an analyst and find myself increasingly… bored. While the pay and the lifestyle (read: hours) are great, I’ve found that the learning curve has flattened out substantially after 3 years on the job and the investment process has become a repetitive quarterly process – earnings release/call, meet with management, update models, decide if investment thesis has changed, buy/sell/hold.

I realize that leaving the buy-side is a rare occurrence, but does anyone have any experience moving on to a new career path after the buy-side? Any stories of regret related to leaving a buy-side gig?

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Switching jobs after short time at entry level (consulting to IB)

November 10, 2012, 1:00 am

≫ Next: Using vacation days after putting in 2 weeks notice?

≪ Previous: Life after the Buy-side?

I graduated last May, which means I've been in my current job for about 5 months. Suffice to say I hate it. I'm at a boutique consulting firm in a pretty small town (not super small but definitely no NYC or Chicago or even Boston/Houston). Dealflow ("engagement flow"?) isn't bad. But...
--consulting wasn't my top choice (ultimately not what i'm really interested in)
--I dislike the work environment (not much interaction with colleagues, career advancement prospects are low, etcc.)
--I would like to move out of this town asap

I have always been trying for investment banking (summered at a boutique) but didn't get an FT offer so I accepted my second choice (consulting) thinking that I would like it, I tried it for nearly half a year, and I really want to go back to ibanking.

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Using vacation days after putting in 2 weeks notice?

November 15, 2012, 11:00 am

≫ Next: Anyone ever burnt bridges on the way out? Let hear it...

≪ Previous: Switching jobs after short time at entry level (consulting to IB)

I was accepted to a new job that begins on the 14th of January. However, before I was accepted to this job, I requested off the whole last week of December. Now, I am in a weird situation because I don't know if I should put my 2 weeks notice at the begining of December (and lose out on 3 paid holidays) OR put the 2 weeks in towards the end of December, take my paid vacation and paid holidays, and come back and work a week in January before going to my new job.

How should I handle this?

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Anyone ever burnt bridges on the way out? Let hear it...

January 9, 2013, 1:00 am

≫ Next: Pulling the Plug: When to Give Up on Your Career Goals

≪ Previous: Using vacation days after putting in 2 weeks notice?

So I've officially accepted a position with a BB's IBD, but due to scheduleing and paperwork I don't expect to start prior to March.
In the mean time I'm going out of my skull at my current ER position. I don't want to take a month off in between gigs, and being my cautious self I don't want to drop that I'm planning on leaving yet, just in case something goes wrong prior to actually starting.

Basically, it's beautiful to be sitting here knowing that I'm done before we get hit with the next big reporting season, and I'm looking forward to giving notice to see if they throw me out or want me to stay and train my replacement. On the other hand it's killing me to wait and keep grinding on the models. Worried I might rage quit next time I get asked to do something stupid.

Currently, I'm fantasizing about different ways to quit, wordings for the final email etc.. Anyone ever quit in a great way?

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Pulling the Plug: When to Give Up on Your Career Goals

January 23, 2013, 8:47 am

≫ Next: quitting investment banking to start own business after 1 analyst year?

≪ Previous: Anyone ever burnt bridges on the way out? Let hear it...

Morning Monkeys,

I had a rather interesting experience over the weekend that has me thinking about something many prospective monkeys avoid in their day to day thought process. If worse should turn to worst, and you've failed to enter IBD/PE/ER/S&T (or whatever the case may be), at what point do you call it quits and stick with what you have? Is there an age where you should stop? A particular collection of personality traits that's doomed you from the start? Or perhaps, a point in your life when career success inevitably plays second fiddle to the responsibilities of family? I ask because I'm worried that I've done a friend a tremendous disservice by not telling him to stop looking, to give up, and that his dream of IBD have long since become irresponsible, if not utterly foolish.

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quitting investment banking to start own business after 1 analyst year?

February 1, 2013, 10:50 am

≫ Next: Thinking about quitting? Read this

≪ Previous: Pulling the Plug: When to Give Up on Your Career Goals

I'm sure this is covered ad nauseum, but just wanted to see in general what people thought.

I'm 6 months into my first year analyst stint in IBD, and I haven't particuarly enjoyed it thus far. Don't get me wrong, I've learned a ton, but my true passion doesn't lie in finance. Although it's nice to have a steady paycheck right out of college, I think this is the perfect time, while I don't have any true huge obligations (I graduated from college debt free), to venture out on my own. I am planning to leave after my first year bonus hits the bank.

For someone who has no interest in pursuing a career in finance and is just in it for the initial learning curve / training it provides, what do you all think about foregoing the second year?

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Thinking about quitting? Read this

March 27, 2013, 7:30 am

≫ Next: Dropping out of Analyst program after 1.5 yrs, MBA impact

≪ Previous: quitting investment banking to start own business after 1 analyst year?

Mod note: This comment was originally posted in
Quitting Investment Banking and thought it deserved to be re-posted again. Enjoy! Click here to see more top rated comments.

It really blows my mind the griping that people do about banking as an analyst. How hard have we worked to get these stupid fucking jobs. People weren't saying "the hours are rough and you'll literally sleep under your desk some nights (which isn't too bad long as bring a decent sleeping bag)," just to try to scare you out of applying. I could maybe see being disillusioned/caught off guard about the job if you're some savant 4.0 triple major from Williams that Goldman swooned out of going to Namibia with the Peace Corp. But other than that, you know what you're getting into, and if you're stupid enough to fake your way into a very serious two year commitment without ACTUALLY wanting to do it, go cry to a wall or some shit.

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Dropping out of Analyst program after 1.5 yrs, MBA impact

March 20, 2013, 8:49 am

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≪ Previous: Thinking about quitting? Read this

Been searching around the forums, cant find much discussion around this topic.

I'm trying to determine if there is a stigma attached to working as an Analyst at a boutique bank for 1 year and 6 months rather than a round two years. I'd be dropping out in June, taking a month or so off, and then starting with an "interesting" position (think a start-up incubator) for a year or two both to relax a bit, and hopefully look better for top 25 MBA's.

Any thoughts on this? Before the "stick it out for 2 years bro", it makes sense for me to drop. Small boutique, waning deal flow, no room for expanded responsibility etc. Basically I'm wondering if it will look super negative not to have finished out the two years.

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Worst response from your boss after quitting

May 19, 2013, 8:12 am

≫ Next: Repayment of sign on bonus?

≪ Previous: Dropping out of Analyst program after 1.5 yrs, MBA impact

I just quit this week. It is a French firm and they wanted 3 months notice. I told them that I could only give them a couple of weeks notice. I accepted an offer from another firm and they wanted me to start as soon as possible.

The response from my boss was lots of yelling. He told me that I could never put the firm name on my resume. I should never come back. And I am a jackass. And it seems that he would not let the HR finish my paperwork for leaving.

I am justo interested to hear from you guys about the worst response that you ever received.

And btw, some of the posts were really helpful. Keep up the good work.

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Repayment of sign on bonus?

June 30, 2013, 9:00 am

≫ Next: Quitting BB IBD after 1yr to start over in corp dev - is it crazy?

≪ Previous: Worst response from your boss after quitting

I have a dilemma I'm hoping to get some advice about

I started my job July 2nd of last year. There's a clause in my offer that states if I voluntarily quit my job within a year of my start date I need to return the full amount of the signing bonus. I have accepted a job offer elsewhere now and am trying to figure out how to quit without being on the hook for signing bonus.

I want to give 2 week notice because I know that's the standard. But if I give it on say today that I'm quitting on july 2nd, I am afraid my manager would say that my submission of quitting was today and therefore I voluntarily terminated my position today and I need to repay the bonus.

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Quitting BB IBD after 1yr to start over in corp dev - is it crazy?

July 4, 2013, 8:22 pm

≫ Next: Anyone regret quitting?

≪ Previous: Repayment of sign on bonus?

I'm in a good group at a top BB (MS/GS/JPM), and I decided early on that I hate IBD (so PE is definitely not the way to go for me). It wasn't just the hours, stress, and overall terrible lack of control over my life - it was also that I felt I wasn't learning about how to analyze companies/businesses/investment ideas in depth. I'm really just a number cruncher who gets the assumptions from others (usually management teams or consultants).

I've received an offer from a top corp dev job (e.g. Disney, Amex, GE) and I am planning on quitting the game to live a better life.

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Anyone regret quitting?

August 10, 2013, 2:52 am

≫ Next: Prime Brokerage Stories: Expect No Favors

≪ Previous: Quitting BB IBD after 1yr to start over in corp dev - is it crazy?

About 5 years ago I discovered finance and started learning about i-banking, ultimately diverging from the other paths I was on to start gunning for the money and prestige that came with with a career on wall street. After a lot of legwork, interviews, disappointments, all-nighters and more stress than I thought possible, a few weeks ago I finished my first year as a banking analyst at a NYC bulge bracket. Something I considered the holy grail a short time ago. Don't get me wrong, I enjoy finance and thinking about economics, but as any other monkey knows, there is a lot to hate as well.

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Prime Brokerage Stories: Expect No Favors

August 20, 2013, 9:30 am

≫ Next: Quitting while applying to b-school

≪ Previous: Anyone regret quitting?

This is the fourth in a series called “Prime Brokerage Stories,” real life experiences from a close family member who worked in this area of the Street for 30 years. For an introduction to PB so it all makes sense, see here: http://www.wallstreetoasis.com/blog/what-is-prime-...

Back when jobs were much more plentiful on Wall Street, I decided to take a common course of action: jump ship and try working for another firm that offered an increase in total comp to boot.

First of all, let’s dispense with ‘career opportunity’. There is no such thing. It’s all about the comp and what you are worth to your bosses.

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Quitting while applying to b-school

August 20, 2013, 2:58 pm

≫ Next: How Bad Is It To Leave Your Job After One Year?

≪ Previous: Prime Brokerage Stories: Expect No Favors

Is this ever a good idea?

I fully committed to applying by the December deadline just a few weeks ago. The problem is that my current position is very demanding. There is simply no way that I can work the hours that I do while giving serious time to GMAT prep and my bschool apps. I need to either quit and give it my all starting NOW or stay for another year. I am in a very good spot but I am really not happy currently and I don't believe that staying makes any sense at all. However, I have heard that applying to school while unemployed is not a good idea.

How much does it hurt to be unemployed while applying? Is there anything that I could do in the free time that I would have if I quit that would look good to the admissions counselors?

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How Bad Is It To Leave Your Job After One Year?

May 29, 2011, 7:06 pm

≫ Next: Quitting while applying to b-school

≪ Previous: Quitting while applying to b-school

Hypothetically, let's say that someone quit their first real job out of college after one year? Would potential (second) employers look down on this? Does the reason matter? If I did something like this, it would be strictly for location reasons. The city I'm currently living in, I'm not a huge fan of. It's in the Midwest, and ideally I'd get back to the West Coast within a few years. The longer you stay in a place, the easier it is to get stuck there, so if I want to move back it's probably easier to do it sooner as opposed to later. But, I don't want to hurt myself career wise.

Apply to Top Wall St. Jobs

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Quitting while applying to b-school

August 25, 2013, 2:30 pm

≫ Next: Top M&A Group: Quitting Early

≪ Previous: How Bad Is It To Leave Your Job After One Year?

Is this ever a good idea?

How much does it hurt to be unemployed while applying? Is there anything that I could do in the free time that I would have if I quit that would look good to the admissions counselors?

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Top M&A Group: Quitting Early

December 4, 2013, 1:54 pm

≫ Next: Do you ever feel bad quitting a job?

≪ Previous: Quitting while applying to b-school

Thanks

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Do you ever feel bad quitting a job?

December 19, 2013, 4:39 pm

≫ Next: Job searching while consulting

≪ Previous: Top M&A Group: Quitting Early

Hi All,

Just a general question - do you ever feel bad quitting a job? Let's say your Company likes you, pays you decent, treats you well, and goes out on a limb to fight for you - for comp/bonus/promotion....but you just don't see yourself doing it long term (or think you can make more $ elsewhere). How do you get over the guilty feelings of quitting on them? Is it difficult for you, or do you just feel "well they would/could fire me etc etc."

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Job searching while consulting

January 28, 2014, 12:14 pm

≫ Next: Leaving the buyside

≪ Previous: Do you ever feel bad quitting a job?

Hello again WSO,

Is it a horrible idea to quit one's consulting job before searching for other jobs? The reason I ask is because I'm on a terrible engagement that involves very long hours, traveling Monday-Friday and a team that is not very quick or agreeable when it comes to approving personal time. As such, I really have no time to search for new jobs, much less interview for them!

I'd prefer to leave before this engagement ends (another 7 mos or so), and I think I could have good hiring prospects elsewhere based on my credentials alone. I just don't want to completely screw up my candidacy by voluntarily becoming "unemployed" then finding out that nobody wants to hire an "unemployed person".

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Leaving the buyside

February 23, 2014, 8:53 am

≫ Next: URGENT! Quitting without two weeks notice

≪ Previous: Job searching while consulting

So everything comes full circle. I've been coming on this website for 7 years now. It was a huge source of information when I was first learning about the industry. I was super eager and literally read every single post from a few of the contributors that I respected (big shout out to Bondarb). Over time, I became more of a contributor, under a few different screen names, and eventually my participation faded out. There seems to be a pretty high correlation between my level of WSO usage and the passion I felt for what I was doing.

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