Currently managing a sleeve under a senior PM and have my own PnL for 10 months at a platform. Recruiter called about a PM role at another shop and asks for PnL track record. How do I provide track record proof without putting myself at risk? Have seen co-workers fired just for interviewing at other shops.
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Based on the most helpful WSO content, when it comes to sharing your PnL track record with recruiters while ensuring you don't put your current position at risk, you should consider the following steps:
Anonymize Your Data: Before sharing any PnL statements, ensure that all sensitive information that could identify your current employer or specific investments is anonymized. This means removing or altering any names, dates, or other identifiable details.
Create a Summary Document: Instead of sharing detailed statements, create a high-level summary that showcases your performance metrics, such as total assets managed, overall return, and risk-adjusted performance metrics. This document should highlight your skills and success without revealing proprietary or sensitive information.
Use Percentage Returns Rather Than Absolute Numbers: Discuss your track record in terms of percentage returns rather than absolute dollar amounts. This approach keeps the focus on your skill in managing the portfolio's performance relative to the market or benchmarks without disclosing specific financial figures.
Get Legal Advice: If you're unsure about what you can legally share, it's wise to consult with a legal professional who understands employment law within your jurisdiction. This step is crucial to ensure that you do not breach any non-disclosure agreements or confidentiality clauses you might be bound by.
Communicate Through Official Channels: When providing any documentation or summaries, use official channels and ensure that communications are documented. This can provide some protection if your current employer questions your activities.
Prepare Verbal Explanations: If you're unable to provide documents, be ready to discuss your track record verbally in detail during interviews. You can explain the situation and your reasons for not providing documents, focusing on your strategic decisions and the outcomes of your portfolio management.
By following these steps, you can effectively communicate your capabilities and successes to potential employers while minimizing the risk to your current position.
Sources: Track Record in Real Estate, How to Explain Large Trading Loss in Interview, Having a very difficult time breaking into CRE (Please Help - I'm Desperate), Big4 and Banks background check, I need your advice
I am a headhunter sourcing and placing PMs globally so am speaking to individuals like yourself everyday. We act in accordance with data laws and nothing shared to us is ever given out elsewhere except our clients.
There are always people jittery with sharing information, but for us to best represent the individual, it is important that we get the full picture or at least a range of PnL otherwise our hands are fairly tied.
You would be seriously surprised at our reach and the number of PMs that speak freely with us despite the supposed connotations of speaking to headhunters.
Lastly, I have rarely heard of anyone actually getting fired because of sharing info - it’s more just a deterrence so shops don’t lose talent.
What kind of documentation do you typically require from your candidates? Would a screenshot be suffice? Thank you.
We just go off verbal confirmation of track but other places may do it differently.
Verbal confirmation from an independent source or from the candidate themselves?
Good God, you're not interviewing for the CIA. Chillax.
Your right. Now I remember what the investor relations people would say to the investors, “chillax, your 100mil pension fund investment is safe with us”.
Thank you!
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