IB Exits | Stuck in the Middle as A2 (RX)
I'm currently an A2 in a very solid RX group and am looking to exit due to some positive life changes that have me reconsider time put into career and the importance of WLB / not being on call 24/7. Ideally, I'm looking to get out of NY, get into something slower paced where I can largely ignore emails after a certain hour or on weekends, and move to any other lower COL city that's not in California.
That said, I feel like I'm either overqualified or don't have enough years of experience for anything. My natural fit would be private credit; however, just not a lot of jobs out there in general and particularly not outside of NYC. I've been looking around for a couple of weeks and, on the corporate side at least, it seems like it's either analyst/senior analyst roles that I'm way overqualified for / comp isn't there (willing to take a pay cut, but not gonna work for $100k), or director level roles that want 6-8 years of experience.
Anyone else been in a similar spot and felt similarly boxed in? Seems as though there isn't a natural fit in the higher QoL-type jobs (corp banking, FP&A, corporate cap markets, etc.) and curious if folks have more creative ideas than me on how to work around and/or where to look.
Just ignore the years of experience and try to find a director role somewhere
you don’t need market consensus on your value or level. You just need to find one job / team. That’s willing to give you a step up opportunity
IR at an MF will pay you dumb money, but it likely won't be in a low COL city.
Your best bet is probably public/secondary distressed credit in Connecticut, LA, or Miami actually. 60 hours a week, minimal weekend work. HH has a really hard time finding guys willing to move and the bar is generally lower for non-NYC hires for the same opportunity.
What is comp like there?
Wdym by dumb money?
DMs open if you have good HHs to get in touch with. Dunno if my bank blocks their emails, but haven't gotten a single HH email to my work email at an EB after gettin 20/wk at an MM previoulsy
Dynamics, Odyssey, Robin Judson, Search1, and SG will have most of the opportunities in distressed. Cascade has opportunities outside of NYC. Gobuyside has a handful but other than Bayside in Miami, think the rest are in NYC.
There are ways to stay in NYC and get your COL down. You can live in Hoboken / Grove Street and commute. Realistic to get your rent down to high 2k / low 3k while living alone.
You probably aren't getting emails because you're an associate. Just be proactive about it and reach back out to anyone focused on pre-MBA or hedge fund that you see on the HH website.
Would not immediately rule out FP&A, corp dev etc. just because of nature of your role in rx. Frankly if you were in coverage IB, you would not be significantly more qualified to do those roles either. Go to interviews and make your experience as relatable as possible. You will get a baseline level of credit for simply being in IB.
Are you A2A or post MBA ASO?
A2A at a diff bank then lateraled
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