Exit Opps/Next Steps
Good Afternoon Everyone. I hope you all are having a great day. I am an asset management analyst at a REPE fund in the Mid Atlantic (<$6B AUM). While the job is a great opportunity and pays well, It's starting to become a drag on my personal well being with 60 hour work weeks. Many mentors have been told to stick it out because the firm is growing and the pay is good, but I'd like to hear everyone's thoughts. I have been in this role for a year and about 8 months. What are the possible exit opps at this time? Additionally, I'd like to get into more of a development and acquisitions role.
Exit opps are what you said you want to get into and portfolio management most likely. I would tell you to stick it out as well and hit that two-year mark since you're close to it and start applying to target roles in about a month or two.
But if you are worried about 60-hour work weeks, I'm not sure acquisitions or development will be any better. These are the roles, including AM, where people can expect to work anywhere from 50-80 hour weeks. So if it really is a drag on your well being, then I might reconsider what you really want from your career.
Stick it out for 2-years. 1-year and 8 mos is a blip. Also, great not great roles out there, and social life is non-existent because work from home. So, you really aren't losing out on parties or anything.
i can't believe you are complaining about a 60 hour work week....what the heck?
that's only 12 hours a day (8am-8pm) mon-fri
weekends free..time for dinner at home and a full nights sleep....the nerve
If this is the biggest/only complaint (I am not sure you actually meant to focus it that way tbh), then I would probably not even contemplate looking elsewhere or sending resumes until the magical two year mark. Even then, I am not sure I would rush it regardless.
But, you are close to two years, so if you wanted to jump, its not the "worst" time. The fact that "many mentors" are saying to stick it out makes me think that you perhaps have a pretty good job from a firm/role/title (and I guess pay from own words) perspective, thus a jump could sub-optimal. Better to get recruited away for something with better title/pay/responsibilities (even if a notch down in firm, but you don't need to settle) than to lateral at this stage of your career.
In fact, you are at the point in a career where a lateral (the most likely offering you would get today) could be insanely sub-optimal. Here is why, the first few years (I say 2-3) of a career just plain suck. You will overworked, under appreciated, and not get the types of duties/assignments you have dreamed about; some is legit because of you (like you take more hours than needed since you are still sorta new to the industry) and some is because of them (easy to toss stuff to most junior person and/or they don't yet get what you could do because you are still new in their eyes). If you "lateral", you could actual reset the counter and have to relive the shitty part; at best, you may delay/push back your time to a promotion upgrade. If you jump, that next job will need to be a 3+ year one for risk of being labeled a "jumper". So net on net, that means you are risking being behind at year 5 or so than had you stayed the course.
I think you can always work to build your network, learn new skills, and prepare for the next job. Just make sure the next one is true upgrade. You stand a far better chance of that 3+ years into a career than at sub-2. Plus, if you can get promoted where you are, then you probably get some improvement overall and are most absolutely setup better for a jump (and get more attention from HH firms).
Final point, 60 hours a week isn't terrible. You could easily find yourself with little improvement if you stay in this field unless you really want to downshift (still most working professionals are probably averaging 50-55 hrs in all reality in any corporate type field). Look for ways to build/get (or even take) more flexibility. If you manage your time (and maybe just assert you need to leave at X'oclock some days) you can probably improve your social life and overall wellbeing. I would focus on improving work/life balance where you are, you probably just need more development in that area to be happy (and I'm afraid that issue could easily follow you to next job).
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