How to deal with someone hired above you?
As the title, someone was hired above me and I don't know what that means or what I should do.
About me: Working at a fairly large Asset Management firm, I am part of a 5-person team in an alternative asset class; AUM ~$2B; 2.5 years on the job. I was hired right after undergrad (was an intern for 3 months and offered the full time job at the end of the internship). My title, associate, was made up because no-one in the firm has had that title. People are typically hired as an analyst with 2-3 years of experience (most of analysts worked at other buy-side firms/corporate banking/commercial banking before joining). I went to a non-target, but the firm is a local one, so it was not difficult to land an interview for the internship. My GPA was ~ 3.3 but the trend was bad (~3.9 in the first couple of years and then it dropped significantly because I was slacking ... However, my finance GPA was good ~ 3.7). My English is decent but I still have pretty strong accent.
About the new guy: Graduated 5 years ago from the same school, he went to work for a year and started the part-time MBA at the same school. He got his MBA a couple years ago and started working at a commercial bank. He has both CPA and CFA, so I guess he is pretty good with technicals. I have not met him yet but I saw his resume. Well-rounded guy with outstanding academics and he was even drafted for NHL/NFL (gotta be a bit vague here) but got injured early on so he stopped his pro sport career and went back to school.
My boss actually talked with me about hiring a new guy and I thought that person will come at my level. However, the new guy will be an analyst, which is higher than me. I will not have to report to him, but I am confused what this means for my future career. When I knew that the new guy will be an analyst, I started applying for other jobs because I was demoralized by the fact that someone will come higher than me. Unfortunately, I did not get a single interview (15 applications; 10 in big cities/financial hubs and 5 local). I don't know what went wrong (I got interviews for IB at a low BB and MM's by applying online before, so I don't think my resume is that weak that it is tossed away right away!?)
So I cannot leave for another job and I don't know what my future will be at the firm. What should I do now? I talked with my boss and he said I would be fine!? But I don't really know what that means ... Hope you guys can give some advice or suggestions. Thanks!
This isn't necessarily bad for you. I'm not sure why you're freaking out.
Just outwork and outsmart this guy. In any good job, you are always going to have competition, whether internal, external, or both.
Whats the problem here? The guy seems to be more experienced, has a MBA, CPA and CFA and generally more qualified. You are overreacting
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