Struggling to find a way in.
Hey. I am a 23-year-old looking for roles on the buy-side, but struggling. I am open to either an off-cycle internship or a full-time role. Here is a quick snapshot of my story:
- Graduated with a BSc in Economics (2018-21) and MSc in Finance (2021-23)
- Summer Intern in the PE FoF department of a well-known pension fund in 2021. The role was almost completely virtual, so although the experience was valuable I could not make the impression I wanted to in order to get a full-time role.
- An off-cycle internship at a very well respected European hedge fund (2022-2023). This role lasted almost a year (internship was extended multiple times) and my responsibilities ranged from research, preparing engagement materials, ESG, IR, and a few other things. Although it was not exactly an investment-facing role, I still received plenty of exposure to that side. The firm made it clear to me that the internship would not become a permanent role but extended my contract as long as they could because I was doing well.
- Since the above experience, I have been unemployed ~5 months. In that time, I was trying to get a role in management consulting, which failed.
- Now, in the new year, I am looking for an off-cycle internship or entry level role on the buy-side. So far, no luck.
In hindsight, the detour I took to look at consulting roles was a big mistake. I have accepted that now.
I do have the core skills (modelling in excel, valuation, etc.) and I have a very good understanding of the industry/environment. I am working on my skills too (currently going through McKinsey book on valuation). I am just struggling to get my foot in the door at the moment. I am considering studying for CFA Level I, but that'll obviously take me a few months and I do not want to be out of work for that long.
What advice do you have for me?
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