Need to move to a different PE firm before even starting
Hello,
I am going to start at a brand name MM (e.g., FP, NMC) firm on one side of the country this summer, and I want to find a job at a firm of similar or better caliber on the other side of this country. My family is falling apart and they live on the opposite coast of the PE firm at which I'm set to start. I am unwilling to move downstream for relevant financial reasons.
I've identified three funds that I think are reasonable to target, though there are a greater number of firms I'd happily go to. My plan is to go to headhunters who I have spoken with before but never placed through, explain my situation, and ask if they'd be willing to represent me to firms that are comparable or upstream of the one I am set to place at. My thinking is that they know I can place at a blue chip fund. I plan to suggest one specific fund for each headhunter I go to (e.g., I think X would be a good fit because of location, I know those guys well, and I can be valuable for their strategy because of A B C qualifications)
My ask: I know it is uncertain, but I would appreciate if someone would qualitatively describe the risk that they see in doing this. I would also ask for any suggestions of what to say in these meetings. I also ask for any broad strokes feedback. My last question would be what the likelihood is that I can find a spot at a brand name MM for 2020, or the likelihood that I will have to delay till 2021.
I also wonder the extent to which I may have to sacrifice quality of fund and compensation. On one hand, beggars can't be choosers, but on the other, I know I am a big fat walking paycheck to headhunters that has been market validated already.
The #1 driver here is that I need to be closer to my family and hold down the fort. I am losing sleep over this so anything you might be able to contribute would be helpful. Thanks very much.
W2W, sorry about the lack of response. Maybe one of these topics will help:
I hope those threads give you a bit more insight.
Thanks again in advance for any input that you might have.
I can sympathize. Local expertise would be a major selling point for you (i.e "I was born and raised here so I have local insight to... ")
You need to decide what's important to you. Your family or a prestigious job. If your family is falling apart, you should be moving back with no job in hand and figure it out as you go. Or move them to you. It's honestly insane that you aren't willing to accept a role with a less prestigious firm to try to save what should be your most important relationships.
Also, all that aside, if you knew these PE firms well, why would you go through a headhunter and not just reach out directly? I don't see the merit in presenting one name to one headhunter. You're being too cute with things when your life is presumably falling apart.
Thanks, this is helpful. I hadn’t thought about moving them to me. I’ll look into that.
You hadn't thought of moving your family to you? Do you have a wife have a great career back home? Or are you talking about your parents..?
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