Career Path Advice Needed
I'm an incoming LevFin analyst at one of the big balance sheet, non-US Banks (Nomura/TD/BMO/Mizuho) in NYC. My goal is to move to buyside credit (L/S, also have a growing interest in distressed). As of now, I'm planning on targeting a move to a BB LevFin group or tier 2 restructuring (Ducera, Greenhill, Guggenheim, etc.)
I have 2 main questions:
1. Would I have any chance of getting interviews at solid credit funds (but not MF) from my current MM non-us bank?
2. Assuming I have to move, would anyone currently in RX be able to comment on whether a move from LevFin to RX is plausible or just put all my eggs in the LevFin basket?
Any insight would be greatly appreciated.
If you're targeting a credit-oriented buyside role, then I'd suggest you move to RX at an EB or distressed desk at a BB. Both would be better than Lev Fin IBD.
The names you listed are all fine. Ducera, Greenhill, Guggenheim, & Perella all have comparable and great RX groups that can get you a seat at a credit MF or credit HF (ie you don't necessarily have to go to PJT RSSG/HL RX/EVR RX for those seats).
Thanks for the help. How would you approach the move to RX? I was thinking it would be best to get a few months of full-time work under my belt before I start networking with RX groups. I've been putting together a list of people I plan on reaching out to but I figured it may be bad taste to try to network before even starting the FT job.
I am a mentor and a VP in buyside equities at a boutique firm. Have advised multiple mentees in the past on switching to buy side including those in credit/fixed income. My two cents below:
Generally it is looked upon unfavorably if you leave your first finance job in less than a year - it signals a lack of either patience, competence, grit, or determination or worse all of the above.
Even at one year, some will still get the above impression but it’s less extreme
After two years, is when people will generally not question your competence, you might even start getting headhunter calls (provided you maintain a good LinkedIn profile etc.).
Working with a headhunter is probably the easiest route. They get paid if you get the job (by the job poster) and they will have a pretty good idea of which jobs are available and which ones you’d be a fit for.
Without a headhunter, the next best option is to develop a good relationship with your team and then after 18 months in have an honest conversation about what you want and ask them for advice/network. If they like you, they will help. It backfires though if you don’t have a good relationship with the team.
Lastly is the classic networking/coldcalling. But only a small portion of ppl you talk to will have a job immediately available. It takes months, and quite often years for a network to bear fruit.
Feel free to message me if you want to chat further.
Thank you, this was very helpful. Do you think the switch would be viewed differently if I were to move to a different role (say RX or a distressed role at BB)?
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