Recruiting Advice For Experienced Professional
Currently a senior analyst at <500mm AUM fund that I joined out of undergrad. Feel stagnated at my current role and now looking to move because 1) I want to eventually get into a more risk taking role and don't see that happening here, and 2) pay is slightly below street. Currently have 4YOE at my fund.
I have been reaching out to headhunters but have had limited success because of my lack of an IB/brand name background. I have been shown a few opportunities here and there recently, but except a couple, I have had a hard time going past even the initial stage. I feel like it's mostly due to lack of the typical IB/PE background out of school, which puts less trust in my modeling skills, which is understandable.
Any advice on how I should position myself going forward? Is it acceptable to check in with headhunters once a month re any relevant opportunities? I would get way more inbounds last year/earlier this year, but things seem to have died down recently, and I have seen maybe two in the past month.
Based on the most helpful WSO content, here are some tips that might help you:
Networking: It's crucial to be proactive about your career journey. Networking early and often can help you stand out in a crowd of similar resumes and profiles.
Showcase Your Experience: Highlight your experience in the industry. If you've worked on complex projects or deals, make sure to mention them. This can help demonstrate your ability to handle challenging tasks.
Admit Weakness: It's okay to not always know all the answers. Admitting weakness can actually be a strength. It shows that you're honest and willing to learn.
Process vs Results: On your resume, demonstrate results in process and not result for results sake. For example, writing "interviewed 20 primary contact sourced organically, leading to investment" reads much better than "stock pitch went up 50% versus industry being up 10%".
Tailor Your Resume: Have multiple versions of your resume ready based on different opportunities. This can help you better align your skills and experience with the requirements of the job.
Check-in with Headhunters: It's perfectly acceptable to check in with headhunters once a month regarding any relevant opportunities. This can help keep you on their radar and increase your chances of being considered for suitable roles.
Remember, not every opportunity will lead to an interview or offer, but being proactive and persistent can increase your chances of success. Best of luck!
Sources: https://www.wallstreetoasis.com/forum/hedge-fund/advice-on-hf-recruiting?customgpt=1, Recruiting and Resume Advice from the Rockies, Black Jack's Recruiting Advice, How to Navigate FT Recruiting: Learn from My Successes/Failures
Bump
It is definitely acceptable to periodically reach back out to headhunters to see if any new mandates have come up.
I would also say generally the hiring market is probably still on the slower side across all of finance and hedge funds are no exception... depending on your focus area that may be even more of a concern (or could play in your favour slightly). For example, MMHF are always hiring somewhere but that may not be compatible with your experience to date nor what you are interested in.
As far as things you can control... I'm surprised you are struggling to get past the initial conversation when you are getting a look. Is it because you are trying to pivot in terms of strategy, maybe not a good fit in terms of desired sector coverage, or not prepared / don't have your story down (something I struggled with as had not recruited for 5+ years myself until recently)? It depends on where you are interviewing and I can't speak for these people, but it would surprise me if they passed on you after an interview because you didn't go down the IB / PE path out of school (something they already knew going in). If anything, I would just try to reframe your 4YOE at a hedge fund as an asset, explain why you went down that path vs. IB / PE, what skills you acquired along the way / how you can bring those to bear in a new role... I assume you have been modeling for 4 years and in a way that is transferable to another HF seat (could argue some of the modeling you do in IB / PE is overkill and not that transferable even if it can be "sophisticated").
If you have more specific questions / want me to look at your resume or help in another way let me know / feel free to PM me. I wouldn't say I have heaps of experience interviewing at all sorts of hedge funds but I did do PE + now in a HF seat so can maybe provide some perspectives.
Thanks - very helpful and have a couple more questions. Do you mind PMing me? I can't PM you since it's an anonymous comment.
Hi, thanks for this info. Was hoping your line can be open, I'm in a similar spot as OP
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