Lost in my Career
I am a bit lost in my career. I did 2 years of EB IB, 2 years in UMM PE and did not get Sr Associate (performance was good & have great references, came down to headcount / need). I have gotten to 8 superdays and received an offer but declined it due to personal reasons. At this point, I've been out of a gig for 3 months and really have no idea what to do and feel a lot of interpersonal pressure to make a decision. I want to do MM/UMM PE (hopefully at a better culture) and think I would like the career long-term (mix of comp, enjoy investing and like doing deals) but not what to do next / how I can get out of my hole.
Decent amount of people in the same spot. Market is tough, just have to keep at it.
How did you find your lateral role (looked at your posts)? I just don't think there is enough headcount for everyone and not sure when I need to pull the plug
It was a different recruiting market back then honestly. I’m also looking for a new role now.
Based on the most helpful WSO content, here are some actionable steps and insights to help you navigate your career situation:
Reflect on Your Experience and Skills:
Networking:
Craft a Compelling Story:
Consider Temporary Roles:
Focus on Firms with Better Culture:
Stay Persistent:
Leverage Online Resources:
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Remember, many professionals face career uncertainties and setbacks. It's important to stay focused on your long-term goals and take proactive steps to move forward. Good luck!
Sources: I was fired today, don't know what to do...., Quitting IB in 2023 - Burnout, I'm so lost, I have no idea what I want in life anymore. Any tips on soul searching?, Handling Stress / Burnout in Private Equity
Bump
You can do what all the other burnouts do and start a search fund.
?
I will never understand these needlessly hostile comments. People are dealing with challenges and asking for constructive feedback from industry peers and morons like these spend time in their #busy PE VP days to punch down. So many FREAKS in this industry lol
We get it man, you gave your life to the job and have golden handcuffs (which aren't so golden these days) so that you could support your wife and her boyfriend while you're in the office glazing the partners for an extra bp of carry next year. No need to take it out on those asking for advice.
You secured an offer after the lengthy interview process and then rejected it? Lol what?
Process took a week and a half from first round to offer.
So you’re feeling down you’re out of job, when apparently you quit your old job, got another job and rejected that as well?
Okay lol.
.
I was willing to give up geo but progression + comp was below market and was optimistic I could land something that checked more of my boxes. Easy to look back but at the time I thought it was the right decision
fair, i was curious what you meant when you said personal. all makes sense i think.
Currently in the same boat and also feel like
i’m at a major career crossroad. Hoping opportunity pick up soon though.
Same boat as you...regretting a bit not going to business school to wait out the hiring market...
At this point feel like best option is to go back to banking and continue to recruit for investing. Could probably try consulting for better culture / lower pay too.
dont forget all the ppl who came out of bschool w no job prospects and $200k loans.
Yup and another cohort of PE associates leaving their firms this summer
in the same boat as a recent graduate with a buyside + eb ibd experience. market is v tough right now, especially if you are not nepo or diversity.
There is so much talent swimming around looking for a new gig. Every investing junior seat will get 250+ apps in the first hour which is just insane. Just wait for the backlog to clear out 1Q25 and things will become easier towards the middle of the year. I am seriously considering a startup role or a corpdev until then.
Then you have another cohort of PE associates that are finishing their program this coming summer start recruiting...
I'm recruiting for those over-vacated seats and hoping for an early/earlier conversion to be honest. I don't expect to get "credit for time served".
How does getting another job for a temporary ~6 months help outside of the obvious getting paid? If anything, doesn't it make it go worse that you would job hop from there so early?
Gives you experience. Covers gap in your resume which is a big issue now
Not that early, and not sure I am re-entering PE.
Why? Because I do not care about prestige and want to do fun, meaningful things with happy people for a change.
You need a shake up and an MBA does that. Find some people with an alternate perspective to broaden your horizons. You basically have two choices from here: jump around to PE shops hoping for a seat, getting paid well, and feeling lost and unhappy with your career or hop off the path and explore some alternate options. The MBA is great since it will let you explore and give you time to process and if you are dreading PE still at the end of your degree, you know it wasn't a fleeting feeling and you should pivot to an alternate industry.
1. Yes, single male
2. I don't think I am ready for VP role and had a pretty bad Associate experience so don't want to spend $200k to lose on recruiting. I can go back to banking for a year to figure things out
I like PE and would still do it if value of carry was 0. I like the game of investing and think it can be a great gig if you find the right spot.
I know the single question is weird, but I’ve found it’s very related with my friends who are happy with their careers and lives. Everyone wants different things, but I struggle to think of someone who isn’t in a relationship that is happy at 30+. They say they are, but a pretty big part of the human experience is having a partner to share things with. Also, as you get older, the number of partnered people increases and you kinda lose friends/people gradually have less and less time because of wives, kids, etc.
Based on your description, it sounds like you are 26 give or take, as someone over 30 a few thoughts:
If you don’t feel like you are working toward something and feel lost you need to find direction and inspiration. The only way to get that is generally learning what you like and dislike which requires making decisions and learning from those decisions and/or having time to reflect on life.
bump
Tbh an MBA program could be good for you and get a chance to recruit PE as a student (much better than being an unemployed person). You'd need to get into a top program
Is there enough time to apply before next cycle?
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