Should I Run for the Exit or is this the Norm?
del del del del del del. Lesson here kids grass isnt always greener and to thoroughly vet the investment teams.
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Bump
I’d say run for the exit…you sound miserable there, and there seems to be no prospects of getting better anytime soon.
why'd you join / how did they conceal this when interviewing
Probably do better diligence next time, some of the issues you mentioned should have been caught before you joined and should have been red flags.
Generally, the best funds to work at are 1. scaled (>5m revenue per IP?) and 2. run by smart enthusiastic people. If you don't have options, pick a fund with at least one of those two qualities. A fund with neither is not one you want to work at under most, if not all, circumstances.
Answering both of the above.
Firstly a lot of this is my mistake not vetting the firm enough. I saw an attractive AUM/IP ratio for a fund that’s been around longer than I had been alive with what seemed like the potential for some serious upward mobility. I mistakenly only spoke with 2 contacts outside of the interview circuit and that was not enough to see what has been really going on.
Secondly just what I would call straight up lying during my interview in that I would be working hand in hand with a Sr. who would help teach me the ropes of the space and investing broadly,this of course only rears head after I’m hired.
Finally, I think things have deteriorated quite fast since joining as right around that time we made the jump to one of the large AM platforms which pretty much catalyzed most of the srs to not give af anymore.
LO is hard enough as is, but this sounds like a dumpster fire in the makings if not already. Start planning to leave now.
Run for the hills
I am genuinely confused as to how you could even possibly think that this is potentially normal.
sounds like run of the mill "boutique" LO to me... just a bunch of boomers who lucked into a seat 30 years ago clipping a coupon. no investment and no management going on.
Is they sold of a stake (and now checked out as if there’s no alpha targets) then why were they hiring?
What firm?
If this is not enough for you to leave, then what is?
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