3yrs exp at a midsize fund, what to do next?
I have 3yrs of experience at a midsize (by today's standards) mortgage fund. Needless to say, it's been 3yrs of bad bonuses and flat salary (not the best timing for getting into the industry). I work on the investment side of things and I'm feeling pretty stuck. The fund isn't getting any bigger anytime soon and I'm quite underpaid for my experience.
Been looking at some jobs out there, but I can't find much that fits. Lots of backoffice and ops stuff out there. I want to move to a BB bank or large fund where I think there would be more opportunities to move up. Being at a no-name fund means that no headhunter has ever contacted me in the 3 years. My industry contacts are closer to my bosses than me; I'm afraid they'd sell me out if I asked about job opportunities.
Went to a target school but I can't find anyone that works in mortgages on the directory. I'm starting to think about bschool just for on-campus recruiting opportunities... sad.
Anyone got ideas for me? Just wait this thing out and hope for the best?
btw, the fund i'm at has a 9 year track record but in the last 2 years became part of the blackstone strategic alliance fund, a seeder fund. is that worth putting on the resume to give it some brand recognition or is being part of a fund that is seeded a bad thing?
You definitely want to put the Blackstone name on there, it will help quite a bit.
What exactly have you been doing at this mortgage fund?
Were you analyzing mortgage related products? Doing modeling, price, fundamental research?
Where is this fund located in the US?
Have you thought about approaching distressed debt funds?
I bet with your mortgage expertise, they might be interested in at least an informal interview.
I've been doing the pricing, modeling, research, due diligence, etc... The fund is located in new york. i've applied to some distressed debt funds through job postings from recruiters but haven't gotten anywhere with those.
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