Work for Free
Hey all-
Quick question. I recently resigned from a BB wealth management department. I really hated the sell-side work along with other conflicts.
Anyway, I have been in contact for a few months with a hedge fund. They made it clear to me that they were going to try (keyword) and hire someone by the end on January. That has come and gone and I know that they have not hired anyone.
I live in a non-finance hub. There are very few hedge funds around. I have always wanted to break into this space. However it seems that hiring is not at the top of their to do list at the moment.
Before I pursue other ventures, what do you guys think about me sending one last update email and telling them I would be willing to come in and work for free to prove my abilities for the chance at a career opportunity?
I am in my early twenties. Have enough cash to get by for a while, no wife or kids. Does anyone see any harm in doing this?
Also interested in hearing thoughts on the probono offer
If you offer to work for free, unless you really make an impact I doubt they will hire you (and it's hard to make an impact at a junior level). Why would they start paying you for something you are doing for free?
That being said, if you wanted to get the experience, work for free there and then begin searching for other HF opportunities.
I see what your saying. But this is a small shop, we have been in regular contact, and I am offering to do this because I would like to get my foot in the door before I accept another on deck opportunity. I have been given about a week to decide on moving forward with my other ventures.
Because it is such a small shop, less than 10 people, having an impact/getting noticed would happen. For better or for worse.
If you have nothing else going on, consider asking to work for free 'part-time'. Allocating all your time into a HF that has no gaurantee of hire and that'll decrease even more after you offer to work for free would not be wise. Use the rest of your time to network etc.
Curious, what aspects of the sell-side WM job did you not like?
Where I worked, it was very restrictive on how I was able to run and grow my business. There were also many investment platforms my firm was pushing that I did not like and I did not think were best interests of my clients.
Throughout all of my full-time and intern experience I worked with both independents and then transitioned to work at a BB. The BB made it hard to conduct business in what I thought was a timely and efficient manner.
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