Hi all - I moved to Florida for PE and it’s been a lot harder than I thought. I want to move back to NYC by asking my fund if it’s okay to WFH and come in a few days a month. Has anyone heard of any funds that allow this? A few mid levels wfh in another city a few hours away and come in once or twice a month and seniors are fine with it.
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You already have great internal reference cases that you can use.
Do you think it’s a bit out there for an associate tho?
What PE shop? PM me
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May be tougher sell for NYC unless your firm already has an office or existing presence there. I don't think your firm would want to create nexus in NY just for your sake...it's a bit different to be in another FL city vs. all the way in NY.
Why not just move to a PE shop in NYC after a year or two? There's no shortage.
I wouldn't do this tbh - a VP/D 5 years in who moves for family reasons is in a very different boat than an associate 1 deciding he doesn't want to be in FL. It's also very difficult to move up the totem pole when you're mostly WFH. Also you'd be taking a huge comp hit... FL has no taxes and NYC has one of the highest tax rates, your salary was probably set with FL in mind.
I would tough it out for a year and then just move to a NYC fund.
Why wouldn’t I just ask and lateral anyway if they say no? I like the people at my fund but think that way if they say yes I can stay and worst case if I’m done after 2 years, I would already be in nyc so lateraling would be easier
Because you'll be told no and they will think "geez, Associate1 already wants to move back... it's only been 3 months...", or if they say yes you will slowly be coached out with low bonus... headed into a recession.
Sorry but this is not a good idea at all as a brand spanking new associate. I am fully for a hybrid approach but there's a reason there aren't PE firms with generous (60%+) WFH policies, and as a 2020(?) analyst you know better than anyone how hard it was to ramp up being virtual, you miss out on so much not being in the office. You have no goodwill built up and barely know anyone at the firm.
To be clear I fully understand wanting to be in NYC, but you can't pretend that a new associate being 90% WFH is the same as being mostly in office. Just suck it up for a year and lateral, it will be better for your career. Would be hard for you 2 years down the line to lateral if you have next to nothing to talk about because the firm has pushed you aside
Don't do it man. Going to rub a lot of people the wrong way.
What are your exact issues with being in Florida? just curious
I’m in a small class and don’t know anyone in the city I’m in. I’m trying to meet people but find it hard to make a friend group vs a bunch of one on one connections
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Will echo what everyone else says. Don't do it, it's not even worth the ask unless you're basically ready to quit if they say no. It looks bad from a reputation standpoint all around. Plus, if you're an A1, there's likely a lot you can learn from being in person with everyone else. Unless you're exceptional or irreplaceable, asking for an exception to live/work in New York when no one else has it is going to appear tone deaf. If I were a partner/principal/vp, I would be skeptical of your commitment to the firm and even just general decision making ability if you came to me and told me that after 3 months you wanted to work remotely.
As others have said, stick it out for another year or so or honestly, just start recruiting now. Reach out to all the recruiters you know, tell them you have a personal reason to be back in New York and that you're looking for immediate lateral opportunities. Another option is, once you build up a little more goodwill, say, you've been there for a year and have gotten a great review, if they ask you how things are going, you can bring it up then, say something about how you love the fund, the people, the work, etc but see yourself in NYC long term and were wondering if there would ever be the possibility of you working there. Again, something that you'd have to tread around lightly, but that's the only way I could see it coming up in a way that isn't offensive to the firm.
Last thing, moving to a new city is tough, especially as you get older. I'm assuming you're not in Miami, perhaps in West Palm or a small city. I wouldn't completely give up on the area yet, it can take time to settle in. If you have felt like you've given it a fair shot and just don't like the area culturally, focus on work, yourself, travel if/when you have free time/weekends, and as I said, start recruiting.
Got it - appreciate the thoughtful response. I’ll stick it out and once the sr associate / direct VP promotion discussion start I’ll start to signal the NYC move
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