Career Trajectory Advice
I was laid off in May from a small tech M&A boutique (NY) after it taking months to get the job. It was low paying, but I was working directly under a managing partner and learning a lot. I had planned on using it as a stepping stone then Covid hit. I've had ~10 interviews in IB, ER, Corp Dev, VC since then, but no offers. Most of the places I interviewed with either hired someone from Wharton, Princeton, etc. or did not hire anyone at all. Had a 1 month stint in July where I was hired to write a CIM for another boutique, but no option for full time.
My resume is non-target 2019 grad with 3 M&A boutiques (one internship, one contract, one full time), a tech startup (full time), and marketing technology (internship). Trying to find the best and most realistic path for myself moving forward. I'm currently interviewing for my dream job at a LMM industry focused M&A boutique, but really stressing hard if I don't get this.
I'm contemplating a job in sales, back office, or whatever just to pay the bills. I'd crush the job and study for CFA at the same time while also continuing to network. After CFA I would probably start studying for GMAT and try to come into banking as an Associate.
Has anybody been in a similar situation or made a similar change? Any insight or ideas would be appreciated.
Not in banking here but my two cents is just keep pushing. Making a move to a BO roll will be miserable and you’ll be bored. Just keep carrying on, you will get your break.
Also not sure if you’re stuck on one geography but your chances will certainly expand if you look outside of NYC. I know a lot of buyside stuff looks like they’re continually hiring because most large managers have seen continued flows and confidence in navigating the economic situation. Some research opportunities there as well if you look around.
TLDR: Don’t settle, believe in yourself.
Thanks for the motivation - much appreciated. I'm just worried time will go on and it'll put more and more space between the current and last time I worked on anything deal related. I'm trying to stay sharp on technicals, modeling, industry focus, etc while also applying to anything I see that's even remotely interesting, but i'm not even getting interviews for traditional corporate finance jobs, analytics, or research. Do you have a preferred platform for job search? I've had some success getting interviews through LinkedIn. Not so much through Indeed or eFinancial Careers.
I frequently used LinkedIn to pin point second connections or just ask for chats when I was in your shoes a year ago.
You’re qualified to a degree and other people are gunning for employment ops as well. I’d say your biggest task is the networking. We live in an age where the application portal is a black hole where rarely you come out the other side with a job magically. You should take the extra steps to personally connect with people who can expose you to their firms needs and culture. If you portray yourself as a good fit, sometimes getting the extra push of your resume or asking for a favor is a game changer.
As far as trajectory I would stay on task and focus on career areas you want. The broader field is competitive in general and moving into say IR or Treasury or something barely related to your aspirations is a hard sell later on when you decide to return to the banking scene. Again, not in IB but I think staying in a role where you see natural progression is career skills is paramount as opposed to just working to work.
I have friends in banking that have some CFA done and some without. Seems to be a selling point to the ops outside of banking rather than attractive to internal progression. Obviously this is probably different from shop to shop. I think academically it’s good stuff. The new test should be easier too most likely. I took old level one and will try again eventually when I have the time.
I went through the same thing you are considering with jumping around. I ultimately went from a business dev role to a FO role and that was my plan. To be on a desk. If I had gone to other ops I had on the table when I was making a move out of business dev (underwriting munis on the west coast, middle office jobs, interning in a FO role post grad, taking a private banking offer) all of those things would’ve been detrimental to getting on a trading desk down the road. Short of munis, I guess.
What cities are you targeting. What’s your alumni network like?
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