IB > REPE > PE > family office > 5 years unemployment & depression > ? woodworking? construction? now what?
Started off in an IB rotation program. ECM, S&T, equity research, real estate PE.
Switched to growth capital PE for several years.
After a while, still can't find a job. Joined a family office with the idea of running thier private market investments. After a year that fizzled out.
Fast forward - now 5 years unemployed, deeply depressed.
Can't find a job, considering asking a family member if I can help do woodwork and construction with him in a rural town. Not sure what else to do.
Have you considered MBA?
I completed my MBA from a top 10 school 20 years ago. That's how I got into IB /PE in the first place. Prior to that was in RE development. No point doing a 2nd MBA now.
Doesn't Jefferies run some ER programs that allow people who were out of the workforce to return
Have you considered teaching?
I have. I'm not sure what I can teach. And where. Teach English overseas?
Thanks for drawing my attention to this. JReturns. Good to know, as I worked w/ Jefferies before.
Why not work as an independent consultant for now and then lateral. I think you may be already doing that though but I’ve seen some of my VPs who’ve done that when they were unemployed.
Yes, I'm doing that. Currently attached to a PE fund part-time. But the pay is so low it doesn't even cover rent, and they take up so much of my time.
But just to be clear as an independent consultant, it hasn’t worked out terribly well. The private equity firm for whom I’m consulting now uses a large amount of my time and pays me only $36,000 per year.
Amount of time they’re taking in return is inordinate. there is no potential for full-time role.
as is typical in PE. I guess they know how to extract value and want a bargain. I will be firing them soon as a client.
MBA Alumni Network - start hitting people up on LinkedIn.
Been doing that for years. 12 hours of Linkedin outreach per day.
haha 12 hours of LinkedIn outreach per day?
Gonna sound like a typical SV bro, but have you considered startups (nothing too early stage - Series B onwards)?
My primary assumption is that the main question you'll have to answer in any field you're trying to enter is why you were out of the workforce for so long. On that point, the startup world is far less judgmental - could easily say you were burnt out + had to do some soul-searching + travel + made your money and were looking for your passion etc.... Your consulting work will help pitch the operator angle. But talk to enough people and someone will bet on your track record - especially if it's a startup that's in a bit of a hairier situation and needs an adult around the table: in fact, would recommend this situation as hairier startups need an actual financial strategy, and the financial talent they usually have is deeply non-strategic (ie controllers).
A few roles might be a good fit (would recommend Director+). Can start by consulting with founders and work your way into the company that way:
What did you do for the last 5 years? Maybe consider search fund, independent sponsor or the likes. Ask your old fund if you can do consulting work to break into the workforce again.
Market is also extremely saturated at every level. I'm also unemployed and have BB IB UMM PE background and know a bunch others in the same boat. My guess is your level is even worse than associates
I have been consulting as a venture partner to a smallish $2bn growth capital fund. But they just use that to milk my network for LPs. They have me do fundraising for their funds which I do get paid 2% for, and to raise on deal coinvest, for which I get paid nothing.
God man, this is my fear. I’m finally discovered to be an imposter and stop failing upwards and can’t land a job.
Could you try to break into corp fin, FP&A or the treasury group at some sleepy F500 company?
Maybe look to tier 2 and 3 cities where the competition isn’t nyc fierce?
Nobody wants to hire a 47-year-old at the mid-level. Of course I would love to do any of those jobs. I just can’t get anyone to let me try. I recently found a strategic finance role at an energy start up and I really pushed for that role. But the CFO said I was too senior. Why did these employees get to decide if we’re too senior?
In my opinion your new narrative should be that you spent a short sabbatical before establishing a book of business consulting for other companies. You're applying to the workforce now because you're looking for something more challenging.
If you're not formally listed as a contractor at these companies you've worked with now may be a good time to establish an LLC to formalize your experience in a more organized manner.
Look at some EMBA resume books or talk to some EMBA graduates for inspiration drafting your resume; drop the years from your education section. consider a functional layout etc...
You could probably land an adjunct professor role to pay the bills. You're more than qualified to teach undergraduate finance or business.
Administrative/Management in local government. You might even be able to aim even higher and try director, deputy, chief of staff...
You can start as a tutor or volunteer immediately. It won't help with your cashflow but it will get you out of the house and socializing.
Best of luck monkey.
I have not been on sabbatical. I have been working diligently as a venture partner for a small US growth capital fund. But there is no full time role and I can’t allocate them more time. They pulled the $3k/month retainer they were paying previously, so now it's truly pro-bono work. It's a weekend and I'm working on IC memos for them, as I have been for the past week. Ignoring my kids. Doesn't make sense to work weekends for free into your mid/late 40s.
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