Help with networking

You're doing everything right mostly. Remember that when you see someone with title "Investment Analyst," even with a somewhat good pedigree, it could have taken 100 NOs and 1 YES. In the process that feels like only failure because it was 100 ghosts / GTFO you don't have what it takes, but that is the game. 

It is also important to be realistic though... Put yourself in the shoes of a hiring person. You worked your ass off for 15-20yrs, left a cushy gig to start your business. Wife wanted a summer house, you said lets downsize for a couple years to get this off the ground. Finally raised $100mn.  You have 1 analyst with the same background as you, and now its time to hire another one... 

Do you go with the kid who had the same background as you (IB/ER), or do you go with the risk of someone with no formal experience in finance industry yet. Can you take that risk that they are plug and play enough in all of the basics and just need some mentoring? 

Or you are a newly minted pod PM, and for your whole career you have been surrounded by people who did the training programs at banks and funds etc. 

So all else being equal, in a line-up of 50 people with IB/ER/PE experience, and then you, who all had average to good investment pitches... who do you hire?

So what can you do? 

1) recognize what are no-goes. The top funds have the luxury of 1k fully vetted candidates just as smart as you, with just as good/better pitches. You can network with someone there for advice, if you are lucky, but that's the full extent probably. 

2) Network your ass off. Get pitches in front of people and just ask for advice for now. Demonstrate hustle above and beyond competition. Passion and "good" aren't enough. Catalogue all of your work and maybe start a substack? Get plugged into the right idea sharing networks and publish your content potentially? (don't do this until you know its good). 

3) Target alumni and similar backgrounds to you wherever they exist. Find a connection that you share with someone, whatever it may be. You find out a $100mn fund CIO did xyz just like you? Jump on that

4) Focus on smaller funds that might be more open to diverse candidates in less trafficked geos (have to start somewhere) 
 

5) Likely will need to focus on transition steps first. Whether that be ER at a small shop or something else. MBAs remain one of the best resets there is, but there is a lot written on this elsewhere. Your competition in the MBA route is difficult because its only worth it if in a top program, and then many of the peers will have IB/PE/buyside experience already, and they all compete for the same handful of placements. Still not a bad re-set if trying for those smaller and less formal shops. 

Its a tough one. The industry has changed. The economics and opportunity is not really there for your average buysider anymore. It has self filtered down to A) legacy boomers who have the nice seats B) a very small subset of rising performers in the right spots who are taking down big $ C) everyone else vying for a shot at an ever smaller pie. 

Don't let time fly by anymore, but reflect deeply on if this is the only path for you. Even the most pedigreed and sharpest out there are finding it inhospitable for a longer and rewarding career. Unfortunate reality is since everything has filtered into only the best seats, the competition for those paths has become brutal. 

Signed - a lost buysider who missed on some HF opportunities and is searching for the best path to financial freedom and career fulfillment.