Planning to move - how to inform my team?
I'm looking for another spot at a larger L/S HF and in another city. How would you handle this with respect to letting your colleagues know and using their network?
I'm an Analyst in a small team (investment team of 3 people). Months ago I had a conversation with the Senior Analyst about moving elsewhere one day and he offered to help me the day I'd decided to move. He has some connections and so seemed willing to help me out with that. The PM has extremely good connections but my relationship with him isn't great (it's kind of absent actually as he is away most of the time) - so I wouldn't ask the PM.
Now that I started searching, should I let others in the team know or would I put myself under unnecessary pressure to leave asap?
My doubts revolve around the fact that I'd like to move quickly but I don't know how long it will take and therefore I don't want to say "hey, I'm planning to move" and be still here in 1 year time because I haven't found the job I'm looking for.
How would you handle this situation?
Deleted
Thanks for your thoughts
My plan is to tell the Senior Analyst my objective is to move elsewhere because I want to change city/country, but without any rush on that.
I partially count on the connections I could get from my colleague as I work in a small fund which was very well known (my PM is), so several people that worked here during better times in the past have their own HFs now or work in other reputable funds.
I'd lean towards doing the work myself (that I'll anyway do) but I think would be stupid on my side not to try and ask for some support. The fund here is small size without any plan to grow so the Senior Analyst completely understand my position (as we discussed it high level time ago).
Similar to the other poster, it is good to have a relationship with the Sr Analyst and keeping to I just want to move cities is a good idea. Larger firms have a real issue if the street starts to find out they are speaking to any candidates and rather keep the process at arms length. As long as you professionally leave no one is going to be upset and understand its part of business.
So just make sure whoever you tell or the process you go about is rather quiet.
Could you elaborate on the "larger firm have a real issue if the Street starts to find out they are speaking to any candidate"? I didn't get your point on this
Being a small world, I have the issue of having one of our board members being on the board of many funds I was about to contact so that's why trying to play it "more openly" seemed also the best way to go (professionally and personally).
Seems you are in a real unique situation and depends on the personalities of people you work for. But based on my experience everyone prefers these things stay more at "arms-length", think of it this way if this board member has 2 really good friends at different shops is he going to call and vouch for you to both of them knowing end of the day 1/2 will be disappointed. Also the more you are open, the more people wonder if they are talking to XYZ, ABC its one thing to see the update on LinkedIn few months later and be like ohh they ended up at XYZ then to know directly here. Then you have the situation where fund A, talks to you cause of one of these direct contacts someone at the firm gets word tell their buddy on the street and now everyone thinks fund A is looking to fill a spot etc...
These are just things to consider and this is why HHs keep the whole process at arms length and coach you through it at times. As the other poster said maybe its best to talk to headhunters see how it looks, game plan then when you really know what you want to do go to these senior people for direct help.
Why are you leaving? With a small team like that, you can get real economics if you do well down the road.
That's why I joined a few years ago indeed. We would have the chance to raise if wanted to. But long story short the fund is not the priority of the PM anymore.
Painful for me and not intentioned to get stuck. I'm still early in my career and I didn't get into this business to have a safe job with no path to growth.
I like the idealism. But def do not tell your senior analyst or PM that you are looking to leave until after you have accepted another job.
I can see the senior analyst helping you find another job after you have quit, but not while you are still employed with the firm. Can you imagine the consequences for him if the PM found out that he assisted your departure from the firm?
Under normal circumstances I wouldn't even have thought to ask and make my intentions known, but since the outlook for the fund is stagnant and I chatted about that with the Sr Analyst months ago, I started wondering how I could face the situation and get the most out of it.
I don't even feel like they would eventually replace me with someone (but that's just my feeling). Absolutely clear the point you make about the relationship PM - Sr Analyst
Do not under any circumstance tell the sr. analyst you are looking to leave / actively searching until you have another job secured. At the end of the day, your fund is a business and people leaving is business risk. Your coverage and responsibilities will need to be re-allocated, and given you say the fund isn't your PMs priority anymore they may decide to not replace you and become further detached. You win because you found a new job, your PM wins because it sounds like he doesn't need the fund to succeed either way, and your sr. analyst / others on the team will be the ones holding the bag. Its great you have a relationship with this guy, but keep in mind he also thinks about his own career security and outlook. In fact, he may have only brought up helping you leave if you wanted to feel out whether or not you are a flight risk to inform his own decision tree. The trick is to maintain a relationship with your sr. analyst after you leave, at which point it is fair game to leverage his rolodex if the next fund also doesn't work out.
Libero cum provident quisquam nam odio animi. Molestiae et nesciunt suscipit enim omnis.
Aut fugit occaecati eius quisquam nemo rerum. Eligendi omnis qui quia aut dolore consequatur quo explicabo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...