Struggling to enter back into banking after career break
Ex investment banking ECM associate in London, I was pretty good at my job, top performer etc.. but quit over a year ago to start my own side project, do some traveling and take a career break.
I've been looking to get back into banking since September, it's now been almost 5 months of constant applications, speaking to head hunters etc.. but I still haven't gotten a single interview invitation yet..
When I ask the headhunters for feedback they say they're struggling to convince the banks to hire someone who's been on a career break for over a year who has most likely lost the skill set vs someone who currently is already in banking looking to lateral.
Has anyone out there had luck with entering back into banking after a career break or has any advice for me? thx
Nobody is hiring right now. Downsizing in fact
Have you tried any career break programs? If you have, what has the reception been to your application?
Tried applying to these e.g. JP Morgan's and another I found but the feedback I received was that although they are advertised as being open to all individuals that meet the criteria, behind the scenes they are more focused towards women who took maternity leave and are looking to get back into work.
JPM's recruiter said my CV looked great especially starting my own profitable tech business during the break but they are prioritising women coming back to work so rejected me. Received similar feedback from the other one I applied to.
I can empathize. I took time off for a serious illness and found many firms weren't initially receptive because they wanted female candidates. I would ignore HR and apply anyway, reach out to anyone you know who can push your resume. You may also want to consider what you'll do to cover any gaps if your search takes longer than you expected.
Seems to me the only way in is probably to lean into your network as much as possible - even those in your analyst / associate class where you only knew them during training, or counterparts you may have worked on specific deals w/ from other banks.
IMO headhunters always go for the path of least resistance when trying to fill spots for clients, and you're not that - can guarantee they're not pushing you hard at all since as they said, you admittedly are higher risk (on paper at least).
Assuming you are trying to join back into ECM, total ECM issuance has been down something like 90% YoY
Not sure how any ECM teams could justify adding another person right now
Most are just praying they don't get let go
ECM/DCM isn't doing well and banks are downsizing. trust that you're aware of the situation.
DCM is doing great. February was the biggest month in issuances ever (200bn)
Edit: I’m stupid, ignore. Year old comment
capital narket as a whole not faring too well atm
Have you considered VC? Your profile would be a great fit for some VC firms - IB + Tech Founding Experience (and it sounds like you had revenue too). Based on what I'm seeing, VC recruiting has not experienced the downturn other industries are facing - lots of funds looking for new hires. Plus VCs love interesting/unconventional career paths. I would try it and you might just be surprised how receptive they might be.
In a similar position to you - it's a tough market. How are you faring? Any luck..
Curious for an update on this? How did you get on over the past few months? Did you end up finding something in ECM? If so, what did you do differently?
Bump
The market is shit and I could see banks being apprehensive as they’d ask will he do it again?
Give it a year, ECM is starting to pick back up I believe. At least here in North America it is.
Did you manage to get back in in the end?
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