Quitted investment banking and now dont know what to do in the bleak job market..
Hi quick info: did investment banking for 1 year and then did not like it at all for the fast paced and toxic culture. then took the decision to go to do a master's in an unrelated field (think social science which is much harder to land up a job) and now just graduated.
Originally when i quitted the job I thought i would always be able to go back into finance as a bottom line after graduation to do ethical finance / impact investment stuff - but right now I suddenly found myself with no job lined up and not even more than 2 interviews after over 80/100+ applications (in PE, in-house M&A, corporate strategy, IR, and also IB now). I feel quite confused about what is the best strategy to land up the next job as I feel like the job market is bleak. Does anyone have similar experience and intel regarding this particular situation (when you are sort of experienced but def not experienced enough for certain roles, and stuck between being a student and being experienced)? Any advice would be very appreciated - thanks much in advance!
Send more emails
to whom?
To the people at the firms you’re applying to
so essentially focus more on networking than application? do you recommend going for a direct cold call saying im xx and love to learn about the team's opportunities or more like to understand their job (like those coffee chats)? do you think these techniques work equally well in PE?
Based on the most helpful WSO content, here’s a roadmap to navigate your situation:
Reassess and Refine Your Target Roles
It seems like your applications are spread across multiple areas (PE, in-house M&A, corporate strategy, IR, IB). While diversification is good, it might dilute your focus. Narrow down your target roles to those that align with your skills, experience, and interest in ethical finance/impact investing. For example, impact investing roles often value a mix of finance and social science backgrounds, so emphasize this unique combination in your applications.
Leverage Networking Aggressively
Networking is critical, especially in a tough job market. Reach out to professionals in your target fields, alumni from your master’s program, and former colleagues. Attend industry events, webinars, and impact investing forums. Many roles in impact investing and ethical finance are filled through word-of-mouth or connections rather than job boards.
Tailor Your Applications
Ensure your resume and cover letters are customized for each role. Highlight transferable skills from your IB experience (e.g., financial modeling, deal structuring) and your master’s program (e.g., research, analytical thinking). For impact investing, emphasize any coursework, projects, or internships that demonstrate your commitment to social impact.
Consider Short-Term or Bridge Opportunities
If full-time roles are scarce, explore internships, contract roles, or freelance consulting in your target sectors. For example, offering free or low-cost consulting services to impact funds or social enterprises can help you build relevant experience and expand your network.
Upskill Strategically
If you’re struggling to meet the qualifications for certain roles, consider certifications or training programs. For impact investing, programs like MIINT or ANDE Investment Manager Training can enhance your technical skills and credibility. For finance roles, certifications like CFA or financial modeling courses can help bridge gaps.
Be Open to Geographic Flexibility
If possible, expand your job search to regions with more opportunities in your target fields. For example, impact investing is growing in regions like Southeast Asia, Africa, and South America.
Stay Resilient and Adaptable
Transitioning careers is challenging, especially in a bleak job market. Be prepared to take a step back or accept a role that’s not your ideal fit initially. Focus on gaining relevant experience and building a strong foundation for your long-term goals.
Seek Mentorship
Connect with professionals who have successfully transitioned into impact investing or ethical finance. Their guidance can provide valuable insights and help you avoid common pitfalls.
Remember, persistence and a strategic approach are key. Keep refining your strategy, and don’t hesitate to pivot if needed. Good luck!
Sources: Impact Investing 101: Trainings I wish I had known about in Business School, Graduating MSF - no job, Leave MF PE for H/S MBA and Pursue Goal to Develop Country?, https://www.wallstreetoasis.com/forum/real-estate/is-georgetown-masters-in-real-estate-for-me?customgpt=1
Time to put the fries in the bag lil bro
am i too old to understand all of these idioms people are using nowadays? do you mean like edouard philippe / rishi sunak did ?
You must be a girl or a soyboy
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