Need help on next steps of my career; feeling stuck
So I’ve been at my LO small cap HF for 6-8 years now, and I think I’ve run my course (contrary to what I said few months ago). I don’t know if I can stomach the volatility any longer, and the stress. That being said, where do I go from here? I’ve made a decent chunk of change, but nowhere enough to just outright retire. The problem is that this has been the only job I’ve had since undergrad. The other problem is that I work at a no name fund, so this has limited the amount of recruiters reaching out to me. I don’t have a huge network either. Also, it seems like entry level jobs are not applicable for me anymore? I come from an Ivy League school, and passed the first two levels of the CFA (I haven’t been able to pass the third). Can someone help me with what I should do? What roles should I look at? How should I go about applying for them (blast my resume on LinkedIn?) Feeling stuck right now. Thanks.
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I was where you are a year ago, looking for an out but not sure how. Banking title/pay inflation and age definitely closed off doors on a lot of career pivots where I'd have to start lower down the rung. Very few employers want to take that risk. My network and circle of friends are pretty much all in the financial world or in areas that I didn't want, that didn't help.
Pretty much just reached out to people at interesting companies or doing cool things to chat. No agenda, no "refer me to your company" type stuff. Honestly, everyone wants to grow their network, was kind of surprised by the number of positive responses between intros from friends and cold reach outs. And shit man, I uncovered a bunch of relevant career streams outside of corp dev / PE / other typical banking exits that I didn't even know existed. Haven't moved yet but have had several really cool opportunities that just didn't work out. I went down the path with a couple of sports franchises, a travel company and a bunch of cool shit.
Thanks for the response. Is it mainly cold-calling/mailing on LinkedIn to go about this?
Some LinkedIn, some referrals, randos I met on nights out, old clients, peeps I play soccer with, hell I even tried the Clubhouse app and met some awesome people. I went out with the mindset of meeting people with no agenda and being patient and seeing what I can learn.
Never resume blasting on LinkedIn though. I feel like that reeks of desperation and would be devaluing 6-8 years of buyside LO experience. Sure you work at a no name fund but I am a firm believer in you are your experience and track record, not who you work for. Once you're out of college and a few years into the job anyway. Up to you how to spin that into a relevant story for future employers.
I had recruiters from large wealth managers reach out to me for opportunities, and I Gave them my resume and then nothing happened. This has happened multiple times. Any idea why this is happening?
What are the positions for?
Mainly typical WM positions--the "analyst" positions for those. To be honest, I'm not even interested in them, which sucks.
Your best bet is to network with your Ivy League alumni.
How do you recommend reaching out to them? What should I say in my message?
Contact them and be direct. Say you’re interested in any job opportunities in their group, or if they know someone who does.
Your career services center at your school might be of help in giving you contact information for grads in your desired industry.
Also another option to network especially if your firm pays for it is to join your local CFA chapter as an affiliate member (candidate) and you can go to all of the events that they host. Most people there should work in asset management and you could network your way maybe into a good size RIA doing investments or even better a family office. My chapter is pretty active and usually has at least one event every month.
I haven't passed the level 3 yet, so doesn't that preclude me from doing that??
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