Recruiting at Sr Assoc/VP Level
I'm currently a Sr. Associate at a small family office and have been trying to lateral to a similar role at a LMM/MM fund without much headway. While the process for Associate hiring seems much structured the process for more experienced lateral hires is more fragmented and the leads I've gotten from recruiters have been few and far between.
Does it make sense to use Preqin/Pitchbook to identify LMM/MM funds in my target geographies and reach out to them directly? And how should the reach out be worded (I assume more informational to get on their radar rather than a direct "I'm looking for a job")?
Markets been terrible and there are no signs showing that it will improve. I’m in the same boat and have friends that have been looking for 6-12 months with no luck that are more senior. If I were you I wouldn’t get my hopes up since going from FO to a LMM/MM fund is even more of a uphill battle than lateraling or going downstream
I’d stay at your FO or go downstream to be frank
By downstream do you mean things like Corp Dev/Strategic Finance? Looking into that as well (and also have MM experience from my Associate stint so hopefully have a way into LMM shops). Unfortunately my current shop has basically doubled my hours with no expectation of help or comp increases so looking to leave ASAP.
yes. more of corporate role and not necessarily in corp dev. can be anything like FP&A and can spin skillset to IR as well. markets been extremely challenging and barely anyone hiring. to deal with current shop, have you tried pushing back or talking with more senior mgmt to voice concerns
Agree with above, looking to leave ASAP + being at a FO + tough market is not a good combination. Don't think you'll be ruffling any feathers by reaching out directly, but that approach may take months as 95% of them will either no-reply or hop on the phone just to say they aren't hiring.
Definitely worth reaching out to a few targeted firms that make sense but I wouldn't go crazy emailing everyone in the Pitchbook directory. if you can get any warm intros from your network try that too. Would also dual-track some corp dev applications, those often are posted directly on websites/LinkedIn so should be less effort but can help hedge your bets a bit if you truly just want out.
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