Quitting banking

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  1. #1

    Quitting banking

    I've been working on the markets side at a large IB for a few years and have come to despise my job. The crazy hours, the rudeness, the endless need to churn out nonsensical "analysis", making repetitive calls and presentations, dealing with jargon-spewing egomaniacs all day who don't realize how ridiculous they are.

    I want nothing to do with it anymore, but need to figure out where to go from here. What have ex-markets people gone on to do outside the industry?

    Problem is, I've already suffered 10 months this year and might as well hang in there for my bonus. Except bonuses won't be announced till Jan, won't be paid for another month... then I have to give notice --which would take me to March! Does it even make sense to begin job hunting right now?


  2. #2

    Join Date
    Jun 2005
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    Hong Kong
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    To start in March? No. The world could be quite a different place by then. And, who knows, your bonus might be big enough to overcome your principles (as, I assume, it is for many IB people).


  3. #3

    Join Date
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    Quote Originally Posted by PDLM:
    And, who knows, your bonus might be big enough to overcome your morals (as, I assume, it is for many IB people).
    Sorry PDLM, I had to fix your post
    Last edited by wayland; 13-10-2009 at 06:14 PM.

  4. #4

    Join Date
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    Hang in there. March is not that far away. December always flies by as done Jan where not a lot happens with everyone away.

    You should try and get a new job whilst employed. So much easier than trying to find a job when unemployed.

    As for having enough of the egomaniacs spewing jargon, good luck in finding a job where people don't do it. I've come to the realisation that only a few people in the world don't take themselves over seriously (and we're mostly all guilty of it at some time or another) so you're bound to get it wherever you go! Those working in marketing are in my opinion the most full of crap so avoid that industry!

    Last edited by aussiegal; 13-10-2009 at 06:46 PM.

  5. #5

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    I'd say hang in there till March! Until then, think of what will make you happy or at least something that you will not despise later on. Then go for it.


  6. #6

    Join Date
    Jul 2009
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    Stick at it sunshine - think, the good times are a few years away, then the 36 months bonuses will be back - then you can take a break


  7. #7

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    epochina - are you an Analyst working in IBD / M&A?


  8. #8

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    Are you his boss?


  9. #9

    Join Date
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    Agree with Aussiegal that it's much tougher to find a job when you are unemployed, and especially when you are an ex-banker. And if you have the finances to support yourself for few months, then its a great time to think about starting something on your own. Especially as the reasons you mentioned which make you hate your job, they are ubiqutious. I know a few of my friend's who were in banking, left it and went their own way.


  10. #10

    Join Date
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    I should have read the original poster more carefully!

    Mat: nope - not his boss!

    epochina: what you described sounds more like M&A / IBD than the markets side typically, but appreciate the frustration!


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