Where To Do Remote Work In Finance?
Left a MF and decided to go back home due to personal reasons. I now need to find a remote job but want to stay within finance. I'm asking for any help with my job search in terms of sectors/ asset classes to look for and any companies you know that hire purely remotely or primarily virtual (i.e. one day per week in office type of thing).
Looking for roles in IB, PE, RE, HF, INFRA
I'd also be open to startup roles in a strategy / corp dev role, but I'm trying to keep a high base pay.
Anything would be helpful. Thank you!!
Next to impossible in this market... pretty much all of these prestigious, high-paying jobs are going to require you to be in to office (and while 5 days a week is overkill, 3 days a week in-office makes it much easier to train and communicate, remote is a huge barrier in these careers) and if you found something you'd be sacrificing a huge chunk of base pay in order to work remotely. Startup hiring is basically shut down right now, and it certainly wouldn't be at IB pay given that funding environment.
Big Path Capital is a decently known impact IB firm that is fully remote and looks to be hiring. There look to be some smaller boutiques offering remote IB jobs as well, but obviously moving to LMM IB takes a massive haircut.
If remote is 100% the only option I would be prepared to take a pretty significant pay cut on base and bonus
Thanks for the response and tip on Big Path Capital! I'll have to check them out.
While I understand and fully appreciate the comment on the job and market environment, I don't fully agree that finding a fully remote role is tough. A friend of a friend at APO is doing it (in IP role). If a place like Apollo allows it, the MFs (other than mine) may be open. A few HFs were open too, but unfortunately struck out with them...
Did he start in the last 6 months though with the hiring slowdown/turn away from remote - and in my experience the more likely situation is, did he start out in person and get a remote exemption?
The second one is common enough if you move and the team feels they need to keep you, but it's pretty rare to get a remote exemption from day 1 when they have 20 people behind you that will come in 7 days a week if they need to.
The hiring environment has really shifted in the last 6 months, especially as qualified banking people get laid off who are willing to go into the office. It's hard to justify hiring someone who is fully remote and thus harder to train when you will have so many strong applicants for any FO roles these days
Smaller IB shops may be open to it, particularly regional boutiques. This is more a negotiation point than a listed thing. I’d try and reach out, firms with 10-250 employees are probably the sweet spot, enough IT/infrastructure to support a remote work arrangement, but small enough to not be hidebound. A mega fund tenure even if brief would make me interested. I’d also look to see if there are any roles in your hometown, assuming it’s a mid-sized city there may be some. I’d also talk to RIAs, some have in house asset management. A friend is a CIO at a mid sized RIA and historically they’ve had an analyst or two.
Thank you! I will def be reaching out to mid-size companies especially in my city. I've been thinking this route for a while, especially with postings that have "hybrid" work listed (more likely them being open to primarily remote vs. ones that post "on-site" only). I definitely have a strong reason to need to work from home (left a really sweet gig for this), so I think if I impress in an interview they'd try to make it work.
I’ve seen it quiet a bit in corp dev. Lots of buddies are fully wfh all over the country. They all got their roles 1-2 years ago tho, so might have been lucky that most of these companies were still in full wfh mode and basically got grandfathered in.
Thanks, two follow up questions if you don't mind. What sector did most of these corp dev roles come from -- tech? And did they take a big pay cut all-in, including RSUs?
I’m in valuation and you could do remote but prestige and pay would likely suffer. I’m at a large mm valuation firm
Is this valuation at a big 4 type of place? I've thought of going this route but at an investment firm. Then when I am able to go back into offices, I can try to transition into a FO role within the firm.
Not big four. But one of duff/houlihan/Kpmg. For another hint we are probably the biggest player in valuation
transitioning internally from doing internal valuation at a PE shop especially at one of the larger funds is tough
Bump
Accordion Partners. Financial consulting for PE-backed portcos, fully remote
Thank you!!!
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