Laid-Off from IR Associate Job 8 Months In
Hi everyone - looking for some advice from folks in the Investor Relations world. After about two and a half years in investment banking, I joined a ~$4B venture capital fund with a great reputation as an IR associate. I came on at the start of their fundraise, so I got a lot of hands-on experience with fundraising, investor communications, and marketing.
Unfortunately, after 8 months the firm went through a restructuring and decided to dissolve the IR team - three of us, including my boss, were let go. I’m now figuring out my next step and would love any general advice on how to position myself moving forward. I’m optimistic, but I know not having the full year of experience there might raise some questions in interviews.
I know the feeling all to well and it probably feels like a gut punch right now. I would keep your head up high and keep moving forward. Lots of great post on here about layoffs, I would find an activity and routine to keep you occupied while you search.
If you can get a reference from your boss and your old firm, you are probably not in to bad of a spot realistically. I think people are understanding of restructuring layoffs. Also, with two years of banking experience, you will be a strong candidate to go to a lot of roles.
My boss and the founder/managing partner are willing to put in a good word.
IR currently makes up a significant chunk of the total job growth in PE/IB (within IB, referencing PFG and PCA groups). Go pitch yourself to all the recruiters and you'll be good in no time.
I am in IR myself - I'd love to see more well informed threads on WSO - compensation masters would also be great. Let's stick together!
Who are the best IR recruiters?
If you don't mind my asking, they just decided mid fundraise they don't need an IR team? That seems like odd timing.
Fair flag, though maybe they decided to just fully outsource the function?
Correct, they decided to use a placement agent and are relying heavily on an outsourced fund administration team.
Fundraise was not going well (not uncommon for this market) so I understand the urgency, but I’m sure LPs are going to take notice and raise questions.
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