What to do if your fund failed?
I hope someone can give me some advice...
Background: Around two years of FT experience working in a growth equities fund, but the fundraising is not going well (If the fund fails, I am likely to be 0 experience in deals or investment but only business development/ fundraising experience)
It feels like there is nowhere to go, I applied for a few reputable AM jobs but got rejected in the final round due to a lack of deal/ investment experience (Even if I answered the/ doing the case pretty well in the interview). Also, I cannot disclose what I am doing during the interview, given my current job's confidential nature (Still not out to the market). In addition, I am located in Europe and am unlikely to find another similar job (Mostly require a native level of the local language, and I don't have working rights in other countries)
The good news is even if the fund fails, I won't be unemployed but will be transferred to some department I am not interested in... However, I have given up some EB internships for this job after graduating, making me even more frustrated with the current situation.
Personal Background:
From a bankrupt and low-educated (Not even primary school graduated) family. I worked a full-time job throughout my bachelor's years, achieved a 4.0 GPA, and served as a board member in a core student association, with multiple summer/ off-cycle internships from deal origination to execution.
What may be the departments you are not interested in?
Sounds like you have good experience - maybe it is a case of try find a long term internship?
I am wokring in a bank, so It's more or less like a mid-office or corp-bank role. Also, I have to start with 0 relevant experience (So likely to be valued as a fresh grad analyst).
The jobs linked to my experience are investor relations/ fundraising at other funds or placement agents, but these options are like a big step back for me... and not what I want either.
The long-term internship is not possible, I already have two years of experience (Will be automatically screened out by big firms), + I won't be able to obtain the working visa.
OK. My view would be to take the corp bank role / something as close to IB / investing (if that is what you want to do)
Get the experience, get the visa sorted
Unfortunately, like rugby, you may have to step back to move forwards
Would second the idea of looking for an IB or CB bank because that would give you geographic mobility as well
But random idea: in the meantime maybe you could work as an online tutor and tutor finance stuff since you seem to have the credentials (could prob make $50-$100/hour)
Ye seems like I don’t really have a choice…
Appreciate it does suck. But you've done great so far and have a diverse set of experiences which will be valuable long term.
Stick at it, it's a long game and you're only at the start.
Life & progress isn't linear (unfortunately).
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