Lateral Referencing - Need Advice
Hi everyone,
I’m looking for some guidance from some of the more senior members of this forum.
Bit of background: I did 2 years of banking then lateraled to an associate position at a firm focused on investing in a niche sector. Long story short, given a combination of firm culture, politics, and lack of mentorship which resulted in me not ramping up as fast as I could’ve, I did not perform well and was pushed out in a year. Would caveat that it was a mutual understanding that it was not working for both me and the firm, and when I left I did so in a professional manner as to not burn bridges (2 week notice, made sure I rolled off everything properly, spoke with each senior, etc.). I lateraled to a different firm in the same space.
Now 3 years later, I’ve tremendously learned a ton and improved my professional skills at my current firm. I was promoted to senior associate around a year ago. I like the people and I’m content with the situation. That said, I was recently given notice that I would not be given the VP promotion. The seniors at my current firm indicated this was due to lack of need, rather than performance, and they’d be happy to provide references as I recruit.
Now, my concern is if I were to pursue an opportunity in this same space, the firms I interview with will reach out to my old firm for an under-the-table reference (there are only a few real players and everyone knows everyone). I’m concerned that they will provide negative feedback based on my time there almost 4 years ago, which I feel is not an accurate representation of my capabilities, which have improved since I left. How should approach this as I recruit? Should I pre-emptively offer they contact my current firm for references? Try to contact the people at my former firm and gauge their temperament towards me? As a senior, what have you seen / done, when you were in a position where you had to provide references? Or should I accept that nothing can be done and apply for B-school, and hope to break back in after 2 years?
Based on the most helpful WSO content, here are some strategies to consider:
Proactively Offer Current References:
Reach Out to Former Colleagues:
Address the Issue Head-On:
Consider B-School:
Leverage Networking:
Prepare a Strong Narrative:
By taking these steps, you can better manage the potential impact of your past experience and present yourself as a strong candidate for future opportunities.
Sources: PE Lateral Recruiting Advice/Stories/Help?, Q&A: Former MBB Consultant, Consulting Recruiting 2023, Private Equity Reference Check, Burned Out - Quitting w/o an offer?
Bump
Bump
Doubt they’ll ask. They’ll ask for ref from current firm first
Aren’t backchannel references pretty common these days?
Unless they’re direct friends with someone at first firm, it’s usually unlikely. They realize it’s not as relevant as current spot.
Unless they’re direct friends with someone at first firm, it’s usually unlikely. They realize it’s not as relevant as current spot.
Unless they’re direct friends with someone at first firm, it’s usually unlikely. They realize it’s not as relevant as current spot.
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