Seeking Advice: Recruiting after Building a Business
I interned at a top buyside shop in New York for my junior summer internship in 2022 (think Davidson Kempner / Fortress / etc). My firm didn't take Investment Analysts out of undergraduate, and I didn't recruit elsewhere for a FT 2023 position.
So I graduated in May 2023 from a tier 2 school, and I ended up building a hospitality business with one business partner to $200k EBITDA/month. Why? Because I figured no fund would look down on a top buyside summer internship + taking time to build a real and cool business at 21.
And now that the business is operational and hitting its bull case revenue projections, I'm ready to hand over the business to my managers and walk away with my equity in hand (I only wanted to work on the business during the implementation phase anyways, hospitality isn't my dream, but the opportunity was too unique and lucrative to pass up).
I want to get back on track for a career on the buyside, and get in at the Investment Analyst level. My preference for city is New York/CT, but I'm open to London or SF/LA/Miami. I'm seeing some postings for FT 2025 on the buyside, but I know I need to act fast.
Is this practical, or do I need to get into banking for the next recruitment cycle? Does anyone know any funds I should look out for, or any fund that would look favourbly on having built a business (perhaps activist funds?).?
For full context, my resume looks like:
- Tier 2 school, 3.9 GPA
- No FT role; spent 1 year post-grad building business to $200k EBITDA/month
- Junior Summer: Top HF in New York
- Sophomore Summer: Relatively unknown special situations HF
- Won two HYP case competitions
Based on the most helpful WSO content, here are some insights and advice for your situation:
Practicality of Transitioning Directly to Buyside
Immediate Steps
Funds to Target
Additional Considerations
Resume Highlights
Final Advice
Good luck with your career transition!
Sources: Breaking Into Banking: Your Timetable is Everything, Lateral to better bank and recruit off cycle or stay at UBS and recruit on cycle?, If I don't get a banking offer, what's the next best thing?, https://www.wallstreetoasis.com/forum/investment-banking/nothing-is-going-right-for-recruitment-whats-next-need-advice?customgpt=1, Banking -> Startup PM on who SHOULD join IB
Seems like you’re on the right track. Are you having difficulty reaching out to funds?
I havne't reached out much tbh but I haven't been hitting well. I"m strugglign with how to tell my story in the intro email.
Attach your resume
What is a Tier 2 School
ie a top state school, not HYP etc, don't want to say more for privacy reasons.
I did IB -> Davidson Kempner / Fortress type place on the real estate side. I found this thread because I’m tired of being an excel monkey and looking to build / buy a business.
if you’re seriously running a business that does $2.4mil EBITDA per year and has potential to scale, I’m not sure if you realize how much more lucrative that is than being your MDs bitch for the next 15 years
Ultimately it's my business partner's roadshow, he's the brains behind it, I have under 10% equity. It's not as lucrative personally and it isn't scalable, it's a hospitality business, there's only so much revenue a location can do.
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