What to do after buy-side? 2023 edition
This thread is likely relevant to many people. You do your banking stint, you go to the buyside doing publics for 4-7 years. Thought you could keep going without an MBA, without any other low roi type of stuff in order to keep investing which is what one wanted to do. Made good money but not enough, realize it’s getting harder to compete. Want to explore other opportunities but have no idea what the path looks like. Curious how others are thinking about options coming out of this environment especially given macro. Want to take less risk, want a bit more stability, less money is fine but want to be intellectually stimulated but recent job fried you a bit. Any thoughts?
Maybe join an IR group of a company I cover, something involved in strategy and corporate development. This has gone well for many of the guys I’ve known to have done it
Sorry to say but there aren't many exciting options. This is a tough exit opps biz.
IR
Biz dev / Strategy
Independent on-demand research for funds
Fund allocation (funds analyst)
CFO at startups
Product/ops at operations-heavy startups
Thanks just asking out there. I’m not in the camp that I have to pivot but young enough that it is a consideration worst case
RIA / wealth management seems like a pretty decent exit option. You will have more credibility than the average advisor for knowing much more about markets/securities, and should have a decent network to cater to (and understand the financial needs of). I can't imagine doing anything non markets related though - I would have no drive. I think the most realistic exit ops are: LO, sell side research, fund of funds, research solutions for buyside/SS, RIAs, and then the long tail of small business owner stuff.
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Yeah, but not everyone can code and solve PDEs
2 things…
1. Even if OP was strong at coding / quant and had the aptitude for a quant job, then OP might have the same issues. It’s still markets, eat what you kill, alpha getting harder to get, etc.
2. Can you move into a chill job in tech making “500k+“? Doubt it… would think you’d lateral with a big step down given a totally different job function. Tech also reeling right now…
Hypothetical question - say you have like great years 1-4, and absolutely horrible year 5-6, do they look at your overall time at the fund or are you blown out?
Wondering this as well
Someone above said strategy was an option. Is that something people actually have done or just speculation? I don’t understand what a corporate would want out of a junior/mid HF analyst, to be honest. What’s the transferable skill? Plus no corporate leadership experience.
Maybe it’s just me, but it seems like the MBA is the only good option if one wants to leave the markets (no LO, sellside research, IR)
Strategy is mostly bullshit so it's not unimaginable to me that an ex-HF analyst could bullshit their way into those jobs.
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