(Help) To tell or not to tell
Hey. Currently at a single FO that failed to scale. $150MM-ish AUM. Run 50% net. 6yoe at SM HFs. My performance has been excellent in my career (over 20% IRR) and at the fund. The problem is that the other analysts couldn't perform, so our overall performance is meh. Boss (100% owner) could help me land another seat at larger funds, given his contacts (though not guaranteed that any of his friends would have a spot available). The question is: do I communicate to him that I want to leave so that he can help me find another seat, or do I first secure an offer outside his network (which can take months to years, as I have nothing lined up)? If I tell him I'm thinking about leaving, he could just kick me out or let me stay for a finite couple of months, and I run the risk of not finding anything better. What to do in that spot?
I was in a similar spot and I think you should focus 100% on finding a job outside of his network. My boss was similar to yours in the sense that he told me he'd help me find something, but that day never came despite us struggling to scale and instead I was dragged along with empty promises and a low pay... finally found a great new seat and left without looking back. And the minute I told him I was leaving, he was pissed at me because he was going to find me a seat vs me going around interviewing and then proceeded to cut off the relationship.
People in this industry are very selfish and only look out for themselves. Sure, your boss might be the rare good guy but what's stopping him from firing you the minute you tell him you want to leave? I wouldn't take that risk.
"my performance is great, its all the other analysts who were the problem"
lol
2 others. Fund works in a way where you can't argue much with each other's picks, as sector coverage is so distinct.
Sad truth. Hard spot
How much are you up vs your sector, compared to them a their sector?
I'm up a lot. Don't wanna dox myself
I mean that obviously happens. I've had years where I was 25% of the gross capital and 90% of the PnL $ when others stunk
Of course, I mean it's three people in the investment team. That is almost supposed to happen. Other dumb people commenting here seem not to understand that somehow.
over 10 years in my career, in 100% of instances where a senior person promised to do something "special" for me in the future in exactly 0% of cases they followed through with their promise. there are cases (like paying a bonus) where they do follow through of course. but in terms of anything "special" or an "X factor" in my experience these are just something sociopaths do in most cases.
a lot of these examples are honestly really comical. 10 years ago when i was in school in one case a MD at Citi told me that he would personally mentor me if I took an offer at Citi over XYZ better bank. he actually left the firm before i would have even joined. when he made this promise he was likely already looking to leave!
in a small subset of cases people do help past employees and I have heard of this happening, but I think someone in this industry only does that if it truly is a case where they need to spend 5 minutes and there is very literally no cost to them and only upside for them. when you work hard for this person, remember this.
"my performance is great, its all the other analysts who were the problem"
based on this it appears you may be learning some of the key skills in the profession as well. lying and delusion is an important building block to being successful like ur boss one day!
his skills are even more developed than yours, keep that in mind. promising things you will not deliver is a very important skill in this industry and so a lot of successful people are very talented with this skill.
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