Canada Mid-Size Developer / Investments (Need Insight)
Need insight with the group hoping someone can share.
I have about 8 YOE within the investments and AM realm however given the layoffs in 2023 I was able to land a Director / VP level role at a mid-size developer in early 2024.
Now a little over a year experience the company is going through a financial crunch. Question to the group is what should be my strategy be in this scenario? How much information can I disclose to potential recruiters and firms I'll be interviewing with?
My experience has been in acquisitions at institutional firms however given this is more of a Boutique combined with the potential downfall how much will this impact me?
I don't want to get in the details but the primary driver for the downfall is the decision making by the Principal.
Navigating this situation requires a strategic approach to protect your career trajectory while being transparent enough to build trust with potential employers. Based on the most helpful WSO content, here’s how you can approach this:
Frame Your Experience Positively:
Highlight the skills and responsibilities you’ve gained in your current role, especially if they differ from your previous institutional experience. For example, emphasize your ability to adapt to a boutique environment, manage challenges, and contribute to decision-making processes. This shows versatility and resilience.
Disclose Information Strategically:
When speaking with recruiters or during interviews, focus on the broader context rather than specific internal issues. For instance, you can mention that the company faced challenges due to market conditions or strategic decisions, but avoid directly criticizing the Principal or delving into sensitive details. This demonstrates professionalism and discretion.
Leverage Your Institutional Background:
Your acquisitions experience at institutional firms is a strong asset. Use it to position yourself as someone who can bring a structured, analytical approach to decision-making, which is often valued in both boutique and larger firms.
Prepare a Narrative for the Transition:
Recruiters and interviewers may ask why you’re looking to move. Frame your response around seeking opportunities that align with your long-term goals, such as returning to a more institutional environment or taking on roles with greater stability and growth potential.
Network Actively:
Given the boutique nature of your current firm, networking will be crucial. Reach out to former colleagues, industry contacts, and recruiters to explore opportunities. Highlight your adaptability and the breadth of your experience.
Spin the Downturn as a Learning Experience:
If asked about the company’s financial crunch, frame it as a learning opportunity where you gained insights into navigating challenging situations, managing risk, and understanding the importance of sound decision-making.
Tailor Your Resume:
Ensure your resume emphasizes your accomplishments and downplays the boutique nature of your current role if you’re targeting institutional firms. Focus on quantifiable achievements and transferable skills.
Be Prepared for Questions About Stability:
Recruiters may probe into why you’re leaving after a year. Be ready to explain that while you’ve gained valuable experience, you’re seeking a role that offers a better fit for your expertise and career aspirations.
By focusing on your strengths, maintaining professionalism, and crafting a compelling narrative, you can mitigate the potential impact of your current firm’s challenges on your career prospects.
Sources: Corporate Development: My Experiences and Background, Compensation Structure at the mid-management level in Corporate Development / Strategy / Finance, Q&A: F500 Director of FP&A, Q&A: Director - Corporate Strategy, Q&A - Post-MBA VP
To recruiters they wouldn’t really know the deal side much so to recruiters I wouldn’t mention that your deals are falling apart. Just do the usual this was my role and we closed on X deals successfully.
When you make it to the second phase when you’re talking with the MD at the new shop, 1. They probably already know your firm is in trouble 2. They probably already know your principal is a nut 3. I wouldn’t put blame on anyone. Again just be clear about your role and how you played a part. You can sprinkle in that although you did AM and acquisitions the final call came down to the principal who sometimes went with a different strategy and your role was to present the options accurately.
The three points in the latter make sense - thanks
You got it boss
Should I consider getting my CFA Level III? Will it help to transition back to institutional world? (Within Canada or International) or does my experience enough to make the transition considering the job market I'm assuming its very competitive right now.
Current environment at the firm now is getting worse and toxic - i.e. no coffee breaks, noting when someone comes in and leaves regardless of work quality / completion, having breakfast at your desk, etc....Does it make sense to resign and step away? Any insight would be much appreciated.
Aren’t you a director? Why are you getting treated like a child? You should be pushing back on this bs.
Yes. It doesn't work. Its a private office. Whatever the Principal says goes.
If you have the savings, run. If not, or either way really, keep looking for a new job.
Am I better off resigning and waiting for an opportunity? Market is dead right now in Toronto
Name and shame dude, this is crazy
I feel like its a firm that stats with F , and ends with M. and its 4 letters total.
In this market, saying that your company was going through a financial crunch isn't the worst explanation to happen
I have an opportunity at a Private Markets Risk group focusing on Real Estate, Infrastructure, and PE. Given my experience in Real Estate should I consider this? It provides broad exposure plus I'm still part of RE while not actively sourcing, or underwriting but assessing from a strategic point of view.
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