Consolidation often results in new leadership and policies, observes Nella Barkley, career consultant at Crystal-Barkley in New York, and if the new regime brings conflicting goals or personalities, it might be time to consider a change of your own. For example, one of Barkley�s clients, whom we�ll call �Al,� was a West Coast municipal bond trader who saw his early success turn sour after a merger. His desire to service clients exclusively with rated bonds clashed with the agenda of his firm�s new leadership, who wanted to �increase sales at all costs.� Al moved back to New York to head the municipal bond group for a German firm.

Financial Issues

Consolidation breeds redundancies: Cost cutting due to overlapping responsibilities or the loss of a significant client may signal economic stress on your firm or department, says Deborah Brown-Volkman, career consultant with Surpass Your Dreams, in New York. In such circumstances, you should keep your options open.

Vanishing Workload

Being overlooked for meaningful assignments, such as important projects or a pitch to high-profile clients is an ominous sign. It usually means you're out of the e-mail loop, too.

Change in Sector

Roles in brokerage or research have taken a back seat to prop trading and structured debt products. Revenues from credit derivatives and mortgage backed securities have shifted profit making to CDO and CDS specialists. If your focus has slipped out of sync with your firm�s, it�s probably time to talk to a recruiter.

Inadequate Rewards

Failure to earn a raise or promotions (especially if others do), doesn�t bode well for your future at the company.

While company culture and market cycles are beyond control, you can still take action. Talk to colleagues or a mentor. And stay informed of company developments and industry trends. This way, says Barkley, �you can make the decision to leave before they do.�