Lateral to a Different Investment Bank to Get Interviews at Hedge Funds
I am currently finishing my first year at a middle market investment bank in New York City. My long-term goal is to work at a hedge fund that does value investing similar to the types of places described in the thread below.
http://www.wallstreetoasis.com/forums/long-term-c…
Unfortunately, I have not had much luck getting interviews at those types of places. I met with all the recruiters, but they have not been much help. I told them that I am only interested in hedge funds. Some of them shared my resume with a few solid hedge funds, but the funds chose not to interview me.
The bank I work at does not have a great brand name, and I do not have great work experience prior to starting work at this firm full-time. I do believe, however, that I have solid technical skills and good (not great) deal experience. As such, I am close to pulling the trigger on trying to lateral to a bank that will provide more opportunities. I would contact people I know at other banks (Elite Boutiques and Bulge Brackets) and alumni of my school working at other banks.
Does it make sense to move to another bank for the primary purpose of getting interviews at hedge funds? I have no plans of staying in banking, and I do not particularly enjoy banking. I like modeling, and I love learning about different businesses and industries, but there are many aspects of banking that I do not think will help me to become better at what I want to do, which is investing. Nevertheless, it seems that I need to move to another bank to get access to the kinds of opportunities I want.
I don't see why this wouldn't make sense. You make a lateral move to a brand name bank in order to improve your exit opportunities, then exit to HF or MBA.
Agreed that it makes sense to make the move now. Since you're only 1 year in it's not like you're taking a huge step back (if at all) to gamble on a future move. It's great that you already have an end goal in mind. That'll allow you to be more focused with the brand you choose now and again down the road when you're looking for particular HFs to jump to.
Yes, I would make the move sooner rather than later. Especially if you feel it will position you better for the HF role and you dont feel the opportunity is there at your current bank, definitely worth a switch. Best of luck!
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