After You Sign, Before You Resign

For those in debt capital markets, bond counsel, public finance and such: this is how you deal with the time between signing with a new firm and resigning from your current one.

Today’s blog is going to be different indeed. I am going to discuss an area that is not typically talked about in debt capital markets, bond counsel or public finance. It is, however, one that needs to be addressed. It’s the interim period between signing an offer and resigning.

Congratulations! You have decided on your new firm, signed all the paperwork, and have given your commitment over.  Now what?  The waiting game is awaiting you.  It’s not the waiting game to get the offer anymore; it’s the waiting game to resignation day.  No matter how much you dislike your current situation with debt capital markets, bond counsel, public finance firms, etc.; it never becomes an easy task to walk into your manager’s office to tell them that you’re leaving.  But I am getting ahead of myself.  The real test comes as you await the arrival of your coveted day of resignation.  Let me share what you will most likely be going through if you are still employed.

2 Little Voices

First, you are immediately going to start second guessing your decision to change companies.  Let me say at the outset to all within bond counsel, public finance, debt capital markets and such: This is normal.  Everyone goes through this. It’s human nature to have buyer’s remorse or the equivalent when making a move.  The little voice in your head (the one we do not like to talk about) is going to be raising all these red flags.  You must quiet that little voice, and you know which one I am talking about. 

Secondly, after quieting that voice, another one is going to start getting you concerned. Can you accomplish what you represented in the hiring process that you would be able to do within that first year?  Again, for all that are in public finance, debt capital markets, bond counsel: This is normal.  I can personally say that 90% of the people I move are able to accomplish most, if not all, they represented within the first two years.  Sometimes it does take longer than you may expect, but that is also normal.  Firms are aware that this can and does happen.  Rest assured that you are getting hired for what you can do in the long run, not necessarily what comes in the door immediately.  Your little voice may also be questioning that you know the lay of the land, so why upset the applecart so to speak? This is all normal.  You must quiet that voice down.

How Do You Do This?

One example to help quiet that voice is to tell it that you will take it on a vacation, especially with all of the new opportunities you will be afforded in order to make more money.  Start fantasizing with that voice instead.  A rational voice it’s not, so take it to the limits with offers that are more exciting to think about.  Review with yourself and/or significant others your rationale for making this decision. Get their buy-in again and again until the time passes when you resign.  It is difficult serving two masters in any industry like debt capital markets, public finance, bond counsel, etc. Those masters being your existing firm and your new one. If you are aware of this, it is easier to cope with any increased stress, which will surely come.  Remember that once you tender your resignation, you are no longer an employee of that firm (even if you do not leave immediately).  Your old boss is just that – an old boss. Do not let them persuade you in any way to stay.  The problems that made you want to interview will not be gone simply because they say they will fix things. I have seen individuals decide to stay, and six months later they call me stating they made a mistake and should have left when they had the opportunity.

Don’t let this happen to you. Control that voice. Remember that on resignation day, they are no longer your boss after you say you are leaving!

Conclusion

If you would like to discuss your options, please reach out to me for a confidential conversation at 760-477-1284 or email me at harlan@hfriedmansearch.com.

About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all level Public Finance Bankers, Health Care Bankers, Municipal Financial Advisors, Compliance Officers, Issuers, and Bond Counsels. He can be reached on LinkedIn, at harlan@hfriedmansearch.com or 760-477-1284.

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