Moving from LMM to UMM with Good Background
Second year analyst that got let go from one of the top BBs and consequently lost my oncycle offer for a UMM fund. Went to a target school with high gpa and test scores. Recruiting market has been brutal given the environment but I still ended up with a LMM PE offer whose last fund was $750M. I ended up accepting this offer as I didn't want too long of an unemployment gap. Is this going to be a mark against me / will it be an extreme uphill battle as people tend to say if I want to re-recruit in a year or two for UMM / Megafund? It feels like my career has been torched as I see my peers who are still on the top PE fund -> Bschool track whereas i have no way of bridging that gap and suspect chances at GSB/HBS will now be slim to none
I was a top bucket EB analyst who chose to go back home to a $600M fund (and family office). I got into both HBS and GSB and will be attending one this fall. Just breathe. I promise it will be okay. Use it to refocus on what you actually want in life (it could be you want to go back to i.e. Sweatiest Shop on Wall Street and miss it way more than you ever thought possible). Hopefully you’re like me and these two years actually probably became the best two years of your life. They were for me. It’s not uncommon to take a gap year and I really see this as my sabbatical that ended up netting me way more than working anywhere else would have (both money (I lived at home), but also self-improvement (I had much less distraction than in NYC)).
Bruh I just wanna say, I don't think you should expect much sympathy from those on this forum. You are sitting waaaaay better than most bankers who have been laid off. Rest assure, where you are right now is an amazing place to be. Sometimes quickly growing funds actually have better/quicker internal promotion and you might really like being a bigger fish in a slightly smaller pond. Give it a real chance, $750M fund size is no joke, you can do some deals with that.
Oh and also, if you need another Analyst I'm available!
Not sure why you'd want to move to UMM/MF after spending time at an LMM, particularly if you think you'll excel there. Thinking your "career has been torched" is melodramatic.
It’s just that I had an offer from a top PE fund before I was let go so in ways it feels like a significant step down
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