Turning 31 currently in MM SS ER (been here for 4 years). Is it too late for me to make a move to MLP/P72/Citadel/Baly? Been through 3 processes ended at final stage in 2/3. Just hard getting looks these days. Any advice would be helpful!
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Based on the most helpful WSO content, it's not too late to make the move to the buyside at 31, especially given your experience in MM sell-side equity research (ER). While it can be challenging to break into top-tier firms like Millennium (MLP), Point72 (P72), Citadel, or Balyasny, your background and the fact that you've reached final stages in two out of three processes indicate you're competitive.
Here are some actionable tips to improve your chances:
Refine Your Pitch: Highlight your expertise in MM ER and how it translates to generating alpha on the buyside. Firms like MLP, P72, and Citadel value candidates who can demonstrate a clear investment process and a track record of actionable ideas.
Network Strategically: Leverage your existing network and alumni connections to get warm introductions to portfolio managers or recruiters at these firms. Networking is often key to getting looks, especially at this stage in your career.
Focus on Stock Pitches: Ensure your stock pitches are airtight. These firms heavily evaluate candidates on their ability to present compelling, well-researched investment ideas. Tailor your pitches to the specific style of the firm you're targeting (e.g., long/short equity for Citadel or P72).
Consider Expanding Your Target List: While aiming for top-tier firms is great, also consider other reputable buyside firms or smaller funds where you can build a track record. Success at a smaller fund can serve as a stepping stone to larger platforms.
Stay Persistent: The buyside hiring process is notoriously competitive, and rejection is common even for strong candidates. Keep refining your approach and learning from each process.
Evaluate Fit: Ensure you're targeting firms whose culture and investment style align with your strengths. For example, Citadel and P72 are known for their intense, performance-driven environments, so be prepared for that level of rigor.
Your age and experience are not disqualifiers, but the competition is fierce. Keep pushing, and with the right preparation and persistence, you can make the transition.
Sources: Breakdown of Post-IB Exit Opportunities, https://www.wallstreetoasis.com/forum/private-equity/where-is-the-industry-going-for-young-professionals?customgpt=1, An old man looking for advice, Transitioning from tech to a serious finance job (yes, you read that right)
Definitely not too late, I've seen guys make the move in their 40s. Just keep trying.
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