Firm not transferring me to NYC
Hey everyone, I'm finishing my second year at a MM fund in a non-NY city and will be starting at a large-cap PE firm this summer. I recruited for this firm ~1.5 years ago during off-cycle.
The firm is not HQ'd in NY but has a NY office. During the recruiting process, they were always asking me if I'd be fine with moving to the HQ city. While I wanted to be in NY (due to FOMO and most my friends being there - almost everyone from my school moves there after graduation), the opportunity was too good to pass up just because of location so I decided to move forward.
A couple months ago, I learned they were recruiting for NY so asked to start there as well, as my gf was moving to NY. The answer was no.
I recently learned that 2/4 of the associates in my group were starting in NY with the rationale being that it's easier to recruit people for NY office. While I understand, I'm extremely frustrated to the point of constantly thinking about it.
Two questions: (1) Am I overreacting and (2) should I look to recruit for jobs in NY asap? They say "there is an opportunity to transfer down the line" but seems like they are just saying whatever at this point.
Other things to consider: I'm an international student on H1B so makes the whole thing a bit more complicated. Feels like I have no leverage
Tough love - you’re being entitled and difficult. You knew what job you were taking and clearly every interviewer was concerned that you wouldn’t want this Tier 2 geo (hence they repeatedly asked you).
You committed to a seat (that they purposely filled 1+ year in advance, taking your word that you were coming) and now you’re throwing a fit that they’re not letting you switch from the hard-to-fill seat that you knowingly took.
If I was the firm, I’d tolerate you asking once, then have a pretty bad taste in my mouth if you kept pushing it. My 2c. Live with your decision, be thankful that you’re joining a sought after firm, embrace this new city, and revisit moving in a few years if NY is really what you want long-term.
Sure that’s fair. My only issue is I was told the narrative first years have to start in HQ and can move after 1-2 years. I was operating under the assumption that that was the case for everyone. Fast-forward they have changed that completely and are now directly hiring to NY.
it just feels quite dishonest from their end and feels like it will impact my shot at moving internally since they are directly hiring for NY office at this point
Echo the above.
Be careful being too pushy. You asked once, don't ask again, you're doing exactly what they don't want candidates moving to HQ City to do.
Also, you are right - you have no leverage, are an H1B, and now only want to move because your girlfriend happens to be moving to NYC. You are being entitled. Make the switch after a few years, either internally or by lateraling out. You'll bury yourself if you keep pushing though and you'll hate your two years by being resentful the whole time.
Hate to break it to you, but you are likely stuck for 2 years. This firm likely has trouble recruiting people into its non NY location, and that location must be strategic for some reason
Is this BDT? They’re notorious for that.
This happens all the time man. This is the real world / how life works. I agree with the others, you signed the commitment to non NYC city and there is likely no option to transfer until that [2 years] is completed. It doesn’t matter that they’re hiring others directly to NYC in a different class. That’s a different arrangement.
I’ve had a similar experience at large MM PE firm with multiple funds across multiple offices. All this transfer stuff is very political and not always “fair”.
(Ignore title, was at a fund with a similar dynamic).
As you mention, you have no leverage. They’ve already said no once.
Your options are either to (1) do a couple of years in the satellite geo, prove your worth, and then ask to transfer, or (2) recruit now, or as a lateral, for a fund in NYC. If you think they’re being so unfair, you’re welcome to do (2).
Spent nearly 5 years at a company in a bottom tier geography that is so bad that a solid 25% of the company "super-commutes" to HQ from NY or other higher tier cities. For a while the company was more amenable to people living other places, but more recently they have absolutely curtailed movement to or from HQ and absolutely re-centralized things more to HQ. People complain heavily about this but they want people to HQ.
Honestly, you're going to have a better outcome and look better if you go to HQ initially, even if just to follow up on your promises. So I'd go to HQ
That sucks buddy, location > job 9/10. Gotta put the lifestyle and personal happiness over the role unless you're actually calling shots somewhere
Last note here, perhaps a bit of optimism - go work your butt off, out-perform in the role, and make them roll out the red carpet to keep you happy (and avoid losing you to another firm).
Prove your worth and ideally flexibility will follow.
No offense - you’re an H1B taking a job that a lot of Americans would kill for and are more than qualified to do. They can probably use the tier 2 geo as a justification for why they’re hiring an H1B vs a US citizen (no qualified talent in that market). Be grateful for this opportunity and recognize the reality that H1Bs are guests in this country who are being given the privilege of working here and are not going to be given the same opportunities and flexibility as citizens. If that’s a problem, I would highly recommend not working in this market or attempting to immigrate to this country. I’m saying this all as the child of H1Bs who lived and worked in very random geos in the US because that was where they needed immigrants to supplement local labor shortages.
I mean if they immigrate then they don’t need h1b. But agree
If those AMERICANS did not get the job, then they are not qualified, period
Disagree with above.
The "be grateful, you're a guest" angle assumes OP did something wrong by asking, and he didn't. He was told first-years start at HQ and move after 1-2 years. He made his decision based on that. Now they're hiring straight into NY and pretending the old rule still applies to him. That's not entitlement on his part.
Okay then leave or don’t work here? America has an abundance of talent in finance and doesn’t need H1Bs to work in this industry - we only extend these opportunities out of generosity. But if you’re right and America is a terrible market, then this dude should just go home. By your logic, he’s not missing out anything here and I guarantee you that America will be just fine without him too.
H-1B entitlement oozing from this post
I would just send you back home and let an American take your seat
but saar i vant to be in amrika saarrr
Firm should be transferring you to the Hyderabad India office where you belong. No more h1bs in this country, go build up your own country so people don't want to flee it.
The H1B completely changes the game here. Do not try to re-recruit or rock the boat before day one—you have zero leverage right now, and handling a visa transfer during hasty off-cycle PE recruiting is a massive risk. Go to the HQ city, put your head down, and crush your first year. Once you have a year of large-cap PE on your resume and a stable visa, you can easily demand an internal transfer or lateral to an NY fund
Usa isn't just an economic zone for internationals to play and work. It's a distinct country and culture here. Stop the h1b entitlement attitude. You are a guest in this country.
stop the racist mentality saar, ve are the ceos of amrika
Rule of thumb, team and office internal transfers will always be a lot harder and difficult to do than you think, even when you have a valid reason. Does sound that you knew what was happening and it shouldn't be a surprise that they don't let you move to another office you weren't hired for
Ignore all of these H1-B comments. They are from losers who can’t compete for the job. Realistically, there is nothing wrong with asking. They might say no but then you have to leave it at that or find a new job. Not much else to it.
Thanks and fwiw I agree. Started this thread right after learning about people who they just hired starting in NY. Literally the first question I asked is "am I overreacting" as I do realize I tend to get emotional about stuff at times and need some outside perspective.
It's crazy how much hate H1Bs get...
People don’t hate H1Bs - it’s a phenomenal program for the US and for talent abroad to get to come and work here. But it only makes sense when it’s being used to supplement shortages in local labor markets or where the candidate has specialized unique knowledge or abilities (eg: PhDs in niche fields). NYC private equity has absolutely no shortage of talented people who want to do the job and are qualified to do the job, it’s sort of absurd that a firm would need to hire a non citizen to fill that seat, especially at a junior level. If you were a partner or even a VP with very niche specialized sector experience, then yeah that would make a ton of sense to hire an H1B. For an entry level associate, it makes no sense.
Now in a tier 2/3 geo, I understand it could be a very different story and international talent may be leagues above what the local market can offer.
Pretty sure this is BainCap. Enjoy Boston for a couple years, it’s not that bad. You can move to NYC in a year or two.
My thought too. Half the seniors sit out of NYC and (hence) half the juniors go to NYC every other weekend. Heard 3 kids in this years intern class reneged for NYC offers… they have to know they’d get better junior talent if they allowed flexibility for NYC.
Sorry but going to have to hard disagree here. People aren't working at Bain Cap because they couldn't get a NYC offer, they're working there because it's Bain Cap. Can't speak for associate+ but friend who's an analyst said the kids coming in out of undergrad all turned down top banking offers in NYC (which makes sense because if you're smart and know you want to be an investor why waste two years learning jack in IB). All that is to say location is a sacrifice you have to take sometimes to be in a great seat early in your career. NYC will be there forever, opportunities won't
One more thing that hasn’t been mentioned, while NY might be the sexier city, there’s something to be said for being at HQ.
I’ve seen many investors feel like second-class citizens at satellite offices. With limited exception, advancement and opportunities (through hobnobbing with senior management, in-person brainstorming versus being left out of conversations, etc.), is always better at HQ. It’s usually the smarter career decision.
Your hb-1, so stop your bitching. Be thankful you even have a job.
And she won’t be your gf for long if she’s moving to NYC and you’re stuck in some crappy tier 2 city.
So prepare to be dumped chubbs.
It’s you’re btw
Lmaooo so many tight people in the comments
Prob best to jump ship but your visa status makes it difficult to do that obviously
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