Why am I not getting interviews?? Recently laid off after 7+ years
Recently got laid off from my long-only equity HF after 7-8 years, it was my first job out of undergrad. Performance took a hit in the last 2 years, and we started getting redemptions. I got notice of my layoff last month. I decided I didn't want to continue on with the HF path, nor any path related to investing because I'm just sick of it. I've started applying for strategic finance and FP&A roles on job boards like LinkedIn, but no one is giving me any interviews (I'm messaging recruiters directly, refreshed my LinkedIn profile, etc.). In these FP&A roles, they're looking for 3-statement modeling, good financial analysis and accounting skills, strategic thinking, all of which I have. These roles usually are requiring 4-7 years of experience, which I have.
My background is lower-tier Ivy league undergrad (Cornell, Brown, Dartmouth, etc.) in Economics. I graduated with a 3.8+ GPA
I also passed the level 2 of the CFA exam.
Does anyone have any ideas? I'm starting to get frustrated that I'm not getting anything. I have decent savings on hand, so I'm not worried about that, just more worried I don't know what I'm doing wrong here. Thanks in advance.
Bump
Sorry to hear this man. Public markets can be a bit of a shit show sometimes so I get the desire to leave. I'd recommend 1) taking the GMAT and applying for top MBAs come fall, 2) finishing the CFA program by Feb-ish, and 3) travel the world and have a blast until your MBA program begins (so a good 4 months or so). Studying full-time for GMAT / CFA should be a cake-walk honestly esp since you passed L2
You'll be able snag great corporate roles paying $250k+ post MBA with these credentials and given your pre MBA experience / target ivy
Thanks for the detailed response. I haven't thought about an MBA, but the thought of 2 years of forgone income and $250k doesn't sound enticing to me. I really don't care about a $250k role; I'm happy making $150k/year working 40-50 hours a week at this point in my life.
Bump
Why FPA and not like a Senior Biz Dev or Sales role at a place like Palantir or Fintech? Would apply to be a Deployment Strategist at Palantir with your background.
I'm trying to do FP&A since career is chill and hours are good, and career path is well-defined, and pay is good too (like $150k+ base with these positions).
Not really sure if I have a good background for biz dev or sales? Not really sure I would be good at it. Deployment Strategist at Palantir, I would have no idea where to start with this
Dude you would blow your head off after doing a few years of FP&A. Could not imagine a more mundane job
Why not look into IR roles or Strategy roles?
In a similar position and that Development Strategist role at Palantir seems exactly like the kind of role I’m looking to pursue moving forward.
How did you find out about it? Are there similar roles or career paths you’d recommend searching for to find similar opportunities?
Honestly from being in the military and connecting with other vets who work there.
They're looking for people with FP&A experience. FP&A isn't really about financial forecasting. It's a pretty specific function, which requires familiarity with different accounting/reporting software. You have too much experience to come in at a junior level to get experience with these products.
Some of these roles are more strategic in nature than just reporting and budgeting (as in understanding the drivers of the P&L and forcasts, communicating it, etc,). I''m looking at FP&A roles that have strategic component to it, not just the reporting/budgeting component.
It's not *just* the reporting/budgeting component, but that's part of it.
bump
PM me. I can probably get you connected regarding FP&A roles.
But are you getting laid though?
.
this aint a TikTok street interview brother
I was recently laid off and am having the same problem. I’m wondering if these firms see our backgrounds and assume we’ll leave to go back to IB/HF once the market improves.
sorry to hear man. How many months have u been looking? What roles are you applying to?
About a month of seriously looking. Looking at IB, corp dev/strat, and some consulting.
Strategic finance roles probably all look for an investment banking analysts looking to leave IB, and you’re super overqualified for FP&A roles. Have you ever thought about asset management roles with good WLB? Based on your hedge fund experience that would make sense
Asset management roles are few and far between right now, as I've seen it.
you're not getting interviews bc people look for resumes that connect the dots, and yours do not connect. "oh, this guy was an analyst a high flying hedge fund for 7 years? Why the fuck does he want this accounting job? dont they make 500k a year over there?"
A bit surprised to read this. Was in FP&A / Strategy role before and could easily see former HF guy getting an interview. I.e., unless for some odd red flag, I would likely shortlist the resume (given appropriate level position).Perhaps: 1) Numbers game - just need to apply more 2) Industry /Sector mismatch - look for more of what you covered at HF 3) Consider level of the roles you are applying for. Are you applying for too senior / junior roles? 4) Look for FP&A roles with no CD component, as coming from public markets you can be perceived as not having deal experienceGood luck
If it's only been a month, you can't really draw any conclusions from that. My job searches have typically taken 4-6 months.
Unlike another poster, I don’t recommend the business school route. Waste of 250k it was for me. No one really cares in my opinion. Business school makes sense to me if you need a break from life and don’t want a glaring employment gap, you’re not in finance and want to break into it from some random field or you think you need that M7 on your resume because you want to become and advisor or raise money or go into politics.
It’s not just the 250k you burn, you also lose out on 2 years of earning, which is like another 600k down the drain.
I think what you have to understand is that when you apply online, it’s like sending your resume into a nebulous black hole. Many times your resume is never even looked at or goes to a random third party first or is reviewed by some junior hr person who can’t tell if you’re a good fit because they don’t actually work in finance.
The hard part is actually getting someone intelligent to look at your resume. That’s why you hear the saying, it’s who you know that matters. And why when you rise in your career the best way to find a new job is through your network.
Keep applying to random linked in posts, directly on the company websites and recruiters, but keep in mind the low hit rates with that. You need to also reach out to anyone who could vouch for you like former colleagues, friends and family connections. It’s much easier to secure an interview when someone can bump your resume to the top.
In your case, you are exiting a niche world and so your former work contacts may not be players in your new space. So that could make it tough to utilize your network.
Instead of giving up on the hedge fund life, maybe look downstream to a less elite place. Because if you go down the corp dev route, you may not be able to go back to hedge fund life and make the big bucks again.
Assuming you've tried this route...but in the off chance you haven't....7-8 years is a long time....aren't there mgmt teams you've formed relationships with, even loosely, you can reach out to?
I think for people going from buyside roles to a corporate role you need to network in. You should probably be reaching out to alumni, friends, friends of friends, etc at companies you'd want to work for.
Sorry to hear my fellow horndog. 7-8 years of hedge fund experience is impressive, but it really doesn’t translate too seamlessly into FP&A. No doubt you have the technical skills and work ethic to succeed, but your YoE says Senior Manager at minimum, Director level most likely.
The issue is that’s all from a hedge fund, which has few similarities, if any, to FP&A. Also, know you made around $300k+ before. Do you really want to half that? If you’re set on corporate finance / FP&A, I think you could eventually land something if you play your “story” right, but you’re competing against other guys with a decade of actual FP&A experience.
I personally think you would be a good candidate for an MBA from a good school. Doesn’t have to be M7, but a Top 15 school would make it a whole lot easier to transition to a cushiony Strategy role, which I think you’d find more interesting. Also, you’d make more money.
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