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Thinking of leaving. Your thoughts?
 
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Thinking of leaving. Your thoughts?

 
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#0 Thinking of leaving. Your thoughts?
 
David
25.08.10 00:00
 
Hi,I have recently had two offers for jobs, one a consultancy (not a Big 4) and other with an investment bank.I took the one with an investment bank and after two months in the job I get a feeling that I have made a wrong decision and this is not where I want to be. The reasons dont matter much for now. the only good thing is the money.The dillema I have now is, - Should I look for work now and try getting the roles similar to the one offered by the consultancy. But then what reason would I have to jump ship so soon?- Should I stay on in IB for say atleast a year and then decide ?- Should I get back to the consultancy who offered me initially saying I am interested in their offer now (I had declined it earlier). Or would it look bad.I have 4.5 years exp in FS.Eager to listen to your thoughts
 
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#0 RE: Thinking of leaving. Your thoughts?
 
Bob
25.08.10 00:00
 
Re. your third option: what's the worst that could happen? If you don't ask, you don't get. The worst that could happen is they say no. So then you are left with your two other options. As for reasons, be honest with them. As far as I can tell from your post (and considering what an accurate representation anonymous postings are of peoples' character) you sound like a sensible person, so you probably have sensible reasons. People make mistakes. That's how they learn. And if you'd never taken the IB job, you'd have never learnt that it wasn't for you.
 
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#0 RE: Thinking of leaving. Your thoughts?
 
Mars A Day
25.08.10 00:00
 
I second Bob's good advice.
 
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#0 RE: RE: Thinking of leaving. Your thoughts?
 
David
25.08.10 00:00
 
Thanks for your Bob and Mars.The only issue I have with option 3 is that when I said no to them, I said that the role with the IB is more challenging, at a higher grade and has more salary and that it meets my career objective. As you know you have to give reasons when you say no to an offer.I was not happy with the grade they had offered me and I felt it was one level lower for my experience level. If they had offered me a higher grade then perhaps I might just have taken their offer. They had declined my request for a higher grade but they didnt knew I had another offer and I didnt tell them till I said no. If I go with option 3 then I dont want to accept the role at the grade they had offered . I can possibly ask them to offer a higher grade, but not too sure how they would see it coming from someone who rejected their offer.Also, among option 1 and 2 what would you all suggest is the best one ?
 
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#0 RE: RE: RE: Thinking of leaving. Your thoughts?
 
Dan E
25.08.10 00:00
 
You are worried that you may have burned your bridges, or that by backtracking and accepting their original offer you will look bad. However, as Bob and Mars said, what have you to lose.Looking at the other options, I would say sticking it out for a year is generally the way forward. However, why not start looking now and be picky - if the perfect role comes up, then leave and count your blessings. If the perfect role does not come up quickly, then you don't need to worry.
 
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#0 RE: RE: RE: Thinking of leaving. Your thoughts?
 
Mars A Day
25.08.10 00:00
 
The problem, as I see it, with waiting and looking, as Dan E suggested, is that you will position yourself in a no man's land - if you knew the role was not right why didn't you leave? If the role is right enough to stay, why are you looking to leave? Etc. You could stay 6 months and explain it away as a contract or interim position while you were looking for your next big gig perhaps.But there is an underlying issue here - you declined the consultancy as they didnt offer you the grade you want, so you took what you thought you wanted (the IB) and realise this was potentially a mistake. I'm concerned that you are simply disaffected and will be unhappy with whatever choice you make. The only reason anyone goes into IB is money. The work is repetitive, stressful at times, and very linear. Some parts can look very sexy, say M&A, but the reality is it's those areas that will break your back and burn you out. You took the IB for the money and the higher grade (read title, as reality is seniority comes only with deep expertise as an SME or revenue generation in a bank) and the money. Let's ditch the pseudo talk about challenge. What you want is the title and the money in consulting and the company that offered you won't give you either because they dont value that way - yet. You could go back and say you would like some reassurances about promotional track, or try to get the grade/pay you want in another MC, but you might be chasing rainbows to be honest.Think hard about what you actually DO want most - if it's money, stay with the IB and accept the compromises. NO ONE goes to IB because it's interesting, and only raw grads delude themselves they have an interest in finance. It's all about the money. If you want varied work, interesting travel, accept that you are not at the grade you want in consulting yet and try to get that offer back on the table. If you won't take the offer you have, I strongly recommend staying put: you probably have buyer's remorse and will settle down into IB in a little while. and if not you'll be making the money to blot it all out with drink each weekend, like any self respecting banker.
 
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#0 RE: RE: RE: RE: Thinking of leaving. Your thoughts?
 
David
25.08.10 00:00
 
Thanks DanE and Mars. Mars, very upfront and pragmatic reply. Super !Well I have thought about it and I am now more inclined to a combination of option 1 and 2. I dont think I will go back to my previous offer as I feel it was too junior grade and they showed to capacity to negotiate. Further they were not the best MC firm out there.For now it will be sticking to the IB job and looking for a good opportunity out there and at then after 6-8 months look out more aggressively to get back into consulting. I do have my reasons if asked and I think they are very compelling.
 
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#0 RE: RE: RE: RE: RE: Thinking of leaving. Your thoughts?
 
Gunslinger
26.08.10 00:00
 
I would agree with your latest post and give the IB a bit more than just 2 months...id say min 3-6 months, then if you are really unhappy, leave and explain it as a contract gig for 3 months ( might be a challenge in its own right).Generally, employers want to see that you were there long enough to:a) learn something, and b) contribute to the companyOnce you can show these things, then you are in a much stronger footing to leave.
 
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#0 RE: RE: RE: RE: RE: RE: Thinking of leaving. Your thoughts?
 
Shoe Polisher
26.08.10 00:00
 
Right choice. You can't go back to the 'not the best MC out there' and give them another opportunity to see how great you are; either accept what they offer or not. They didn't want to negotiate then, they won't now. Someone said IB is all about the money, spot on but that's ok. It is what it is.
 
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#0 RE: RE: RE: RE: RE: RE: RE: Thinking of leaving. Your thoughts?
 
Polish Plumber
26.08.10 00:00
 
I would stay in IB, earn f. you money and retire. F. you money is enough money to tell your boss and your landlord to f. off. Yes, you have to suffer before you earn it, but you won't have to work for the rest of you life like many of our generation (born in 70s-80s). Besides, you may be unlucky with your colleagues, but the more time you spend in IB the better options you can choose, maybe with a different bank or a different team within the same bank.
 
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#0 RE: RE: RE: RE: Thinking of leaving. Your thoughts?
 
Leo the lion
06.09.10 00:00
 
What a sensible no nonsense chap. You must be a management consultant.
 
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