Been looking to change jobs in REPE - headwinds given recession
Hey guys, would appreciate your thoughts here. I’ve been at a MM REPE fund out in NYC for about two years (recently promoted to VP in acquisitions).
Since early 2022, I’ve been looking for a new position out in Southern California (where I originally am from). Early on, I had numerous leads and constantly saw new job postings. Over the past three months, it’s definitely slowed down (unsurprisingly). I’ve been taking my time to find a great landing spot given that I am in no rush and enjoy the team/work at my current shop.
Do you think it’s a fools errand to continue aggressively pursuing opportunities, and should I stay put for the time being? Problem is, I don’t think deals will pick back up anytime soon, so the job landscape won’t materially change either.
any tips on how to navigate opportunities in this environment? I found recruiters to be pretty useless, and postings online to be thin.
I’ve had recruiters reach out for Artemis and balboa retail recently. Although they were for associate / senior associate roles. You need to be on the recruiters radars because they generally just blast to local people first (how I heard about those roles I mentioned)
It’s going to take you a long time given the environment. Don’t ever aggressively pursue new roles in my opinion. It needs to always be a secondary / tertiary goal in your life, otherwise you come across as a hardo in interviews. I don’t start landing jobs til i stop giving a shit
Well, given the state of the market and what is increasingly becoming a uniform expectation (valuation declines, fund raising slowdowns, etc.), I wouldn't be surprised if a lot of firms "pause" hiring while everything gets sorted out. So, the probability of making a move like this is likely less than in say 2021. That said, I would still network/apply as you are/were doing. Whether that is "aggressive" vs. "casually" is up to you. But, being more "aggressive" will increase your odds and maybe get you "first in line" as needs shift. I would just be very strategic about who and what firms you are being "aggressive" with.... like if they have "good" news (XYZ raises new fund for special sits...) then def go in and see what's up... but if like (XYZ just gave back the keys...) is the news then maybe take them off your list.
What is your comp if you don't mind me asking? I'm currently an associate in banking and looking to move over.
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