Let go from LO cross-asset seat. How to position next move?
Recently let go from a long-only cross-asset research role after ~5 years. Sat between research / PMs / sales / tech (yes, aware that's a lot of different areas), certainly not a pure coverage seat alone. Background was more quant-focused (STEM undergrad) before taking my public markets role.
Role evolved a lot over the past few months and expectations shifted. Unfortunately, I had a few visible misses during that period. That, combined with both broader firm + team organizational struggles, ultimately led to the decision to exit.
Trying to be pragmatic about next steps:
1) Given this background, what roles make the most sense? Ideally would prefer to pick one or two of these and really dive in rather than spamming applications all over the place.
Considering:
-Equity or credit research (either LO or L/S) and ideally something with coverage
-Quant-focused data-driven investing roles, but I don’t have a PhD, which I am aware is typically expected for quant research
-Finance adjacent roles at corporates (e.g., strategy, IR, corporate development, etc.), which I have seen people move to after getting experience in LO.
2) How would you frame this exit externally?
Current thinking: I worked with challenged platform with shifting expectations and ultimately found myself in a place where I could not grow at my best. I’m looking for a seat with more exposure to true investment decision making.
3) Where have you actually seen profiles like this land successfully post-reset?
Trying to optimize the next move and avoid repeating the same setup.
Side note: just scored 715 on GMAT Focus couple days ago, and currently doing a late-cycle B-school but aware that likelihood of acceptance at top places is super low. Any thoughts there would be appreciated.
Happy to add any more context, but trying to remain somewhat vague as I am currently trying to remain anonymous
Based on the most helpful WSO content, here's how you can approach your situation:
1) Roles That Make the Most Sense
Given your background and experience, these roles align well with your skill set and career trajectory: - Equity or Credit Research (LO or L/S): Your experience in cross-asset research and working closely with PMs positions you well for these roles. Highlight your ability to analyze multiple asset classes and your quant background as a differentiator. - Quant-Focused Investing Roles: While a PhD is often preferred, your STEM undergrad and quant experience can still make you competitive, especially for roles that value practical experience over academic credentials. Consider smaller or mid-sized funds where the PhD requirement might be less rigid. - Finance-Adjacent Corporate Roles: Strategy, Investor Relations (IR), or Corporate Development are viable options. Your exposure to research, sales, and tech gives you a broad skill set that corporates value, especially in roles requiring financial acumen and communication skills.
2) Framing Your Exit
Your current framing is solid but could be refined for clarity and impact. Here's a polished version: - "I was part of a platform undergoing significant organizational and strategic shifts, which impacted team dynamics and role expectations. While I gained valuable experience across research, PM collaboration, and sales, I realized I thrive in environments with clearer investment decision-making exposure. I'm now seeking a role where I can leverage my analytical and quantitative skills to contribute more directly to investment outcomes."
This approach is honest, avoids placing blame, and emphasizes your desire for growth and alignment with future roles.
3) Where Similar Profiles Have Landed
From WSO threads, individuals with similar profiles have successfully transitioned to: - Smaller or boutique investment firms: These firms often value diverse skill sets and may be more flexible on traditional requirements like a PhD for quant roles. - Asset Management or Hedge Funds: Positions in equity or credit research, especially at firms looking for analysts with cross-asset experience. - Corporate Strategy or IR: Many professionals pivot to corporates, leveraging their market knowledge and communication skills. - Business School: While late-cycle applications to top programs are challenging, your GMAT score (715) is competitive. Consider targeting programs with strong finance or investment management tracks, even if they aren't M7 schools.
4) B-School Considerations
Final Thoughts
To optimize your next move: - Narrow your focus to 1-2 target roles and tailor your resume and pitch accordingly. - Leverage your network aggressively, especially former colleagues, mentors, and WSO forums. - Consider short-term certifications or courses (e.g., CFA, financial modeling) to bolster your profile for specific roles.
Remember, this is a reset, not a setback. With a clear strategy and targeted effort, you'll position yourself for a stronger next step.
Sources: Losing "The Edge" Post-IB, Advice On a Career, Q&A: Managing Director at Large Global Asset Manager, Fork in the road: Career path in Asset Management, Q&A: Multi-strat HF Analyst
Bump, good luck
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