References at Current Shop When Recruiting?
Am at a multistrat HF (mostly event driven) for a handful of months and am looking to jump ship early (bad fit + couple other issues). When I recruited into this place, the funds I got offers from asked for 2-3 reference calls at my prior PE gig, which were easy since I was on the right timeline to leave. This time around, I don't think I've been around long enough for anyone here to be my reference - and I know its a small space and people will likely know other folks at my shop. What's the best way to navigate recruiting early in terms of avoiding word getting back to my employers when people ask around, and also if I make it to an late stage, how to deal with references?
Navigating the delicate situation of recruiting early from your current position at a multistrategy hedge fund, especially in a tight-knit industry like event-driven investing, requires a strategic approach to manage references and confidentiality. Here's how you can tackle this challenge:
Leverage Previous References: Since you've mentioned successful reference checks from your prior private equity gig, consider reaching out to those same contacts again. Their vouching for your work ethic and skills remains valuable, especially if you haven't been at your current role long enough to establish strong reference-worthy relationships.
External Professional Contacts: Think about other professional relationships outside your current and previous jobs. This could include mentors, colleagues from other firms you've interacted with, or industry contacts you've made a positive impression on. These references can speak to your character and professional abilities without needing to be directly from your current or most recent employer.
Be Transparent with Potential Employers: Without going into unnecessary detail, explain your situation to potential employers. You can mention that due to the short duration at your current firm and the industry's close-knit nature, providing references from your current workplace could jeopardize your position. Most hiring managers understand the sensitivity of job searching while employed and should respect your discretion.
Use Academic or Extracurricular References: If you're relatively early in your career, references from academic or extracurricular leadership roles can also be valuable. They can attest to your leadership, teamwork, and problem-solving skills, which are relevant across roles.
Prepare a Solid Reason for Leaving: Be ready to articulate why you're looking to leave your current role so soon, focusing on the positive aspects of what you're seeking in your next opportunity rather than the negatives of your current situation. This helps frame your job search as a proactive step towards growth.
Confidentiality in the Process: When engaging with recruiters or potential employers, emphasize the need for confidentiality throughout the recruiting process. A professional recruiter or hiring manager should understand and respect this request.
Networking with Discretion: Continue to network within the industry, but do so with discretion. Networking can sometimes lead to informal reference checks, so it's important to trust the individuals you confide in about your job search.
Remember, the goal is to manage the recruitment process as discreetly as possible while still providing potential employers with a comprehensive view of your capabilities and character through credible references.
Sources: Burned Out - Quitting w/o an offer?, 7 Tips on Reneging, https://www.wallstreetoasis.com/forum/hedge-fund/advice-on-hf-recruiting?customgpt=1, 7 Tips on Reneging, Questions about recruiting/employee referrals
Nobody should/will ask for a reference from your current employer so long as you are still an active employee. If they push back, tell them to pound sand.
If you quit first, there is no risk to you and therefore it's fair game. Part of why you never quit a job without first having another job in hand.
Minima consequatur officiis soluta culpa est. Officia aut laborum ut commodi rerum. Sint et earum animi consectetur illo.
Corporis alias maxime molestiae illo voluptatem officia. A ipsam nisi qui aut. Nesciunt consequatur tenetur aliquid illo dolorem eveniet est. Voluptatem et assumenda sit est ut recusandae ut. Natus distinctio quos qui cum et ipsa rem.
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...