Advice for a 2-and-Out Associate…
Seeking Career Advice…
Currently at a MM Fund (most recent fund size $2-$4bn) and was told mid-Q1 that I wasn’t getting the Senior Associate promotion which came as a surprise (historically they almost always promote but the model has changed with the latest fund raise). Was given a 6-month grace period to figure out my next step.
My time with my current firm is running out and I haven’t locked down anything as of yet (have finished in the final group in 3x processes now) for an experienced Associate or Senior Associate position. There doesn’t seem to be a ton of opportunities in the market for established funds (I’m) at the moment. The only roles I’ve seen lately are funds with either: poor returns, unproven track records, or are on the other side of the country, which would significantly strain my relationship.
Which brings me to my question, what would you recommend I do? Should I take whatever I can get and recruit again in 2 years as a VP, or do I have any room to wait for an opportunity I actually want, even if that means recruiting without a job (seems like a stretch that someone would hire me without a job)?
Other ideas I’ve thought of are applying to b-school for 2024, or taking a Corp Dev job for a year or two and then re-recruiting for PE.
Appreciate any advice.