How to break back into the industry after leaving if I am struggling with recruiting?
I previously worked at a well-regarded traditional equity hedge fund and as an analyst at a top quant trading firm. After a three-year break working in a family business, I'm struggling to return to finance. Despite extensive networking leading to interviews, I'm often rejected because my background isn't technical enough for typical trading roles, and my unique analyst skills developed at a trading firm aren't widely sought after (it was a pretty niche role). I'm in a challenging position: too experienced for junior roles but not quite ready to start a trading desk. While I have a strong resume, it seems that firms prefer hiring younger, fresher talent, especially for roles requiring specific skills. Having been out of traditional hedge funds for over five years, and not being a math/CS expert as is necessary in most trading seats, my options feel limited. Self-learning hasn't bridged the gap completely, but I've self taught myself a lot of what is in quant interview guides and leetcode. I was already very good at traditional technicals for equities hedge funds and probability/brainteaser questions that I got asked when interviewing for prior roles, but unfortunately this isn't what I get asked about now. I'm considering alternatives like working in a non-markets role as a startup executive or pursuing grad school, but I'm concerned these might weaken my candidacy even further. I like public markets and finance is pretty much the only thing I have excellent training in. While I do have an offer to join a startup, the reality is that I just don't think this makes sense for me long term - my strengths are primarily my analytical / financial skills and not really the soft skills that make someone a great executive. I would have never left the industry to begin with had I known how hard it would be to break back in - I just assumed that my resume was good enough that I could try something else without too much repercussions (which ended up being wrong). What do people think I should do?
I think for senior hires it's usually not enough to be technically strong there also needs to a clear explanation of how you will add value to your new employer. If firms are very eager to hire they may overlook that but my impression is in 2024 many firms are being more strategic about hiring after several years of rapid headcount growth and it will be difficult for you if you can't clearly articulate how you will add value. If you can find some roles in the same specific niche as your role at the quant trading firm and you think your experience there from 3 years is still relevant that is one possibility. I'm sure you is already doing this but referrals and recommendations from past coworkers are common ways of getting new jobs. Unclear if this is a possibility for you but going back to work for a past employer might be a good option if possible.
Ah, the classic tale of the prodigal son trying to return to the finance fold! Here's a bunch of bananas... I mean, advice, based on the most helpful WSO content:
Leverage Your Unique Experience: Your niche skills from the quant trading firm could be a treasure trove. Spin this as a positive, highlighting how these skills can bring a fresh perspective to a traditional role.
Network Strategically: You've got networking chops, so use them! Target individuals in roles that align with your experience. Seek out those who appreciate the analytical depth you bring to the table.
Consider Boutique Firms: Sometimes smaller or boutique firms value diverse experience more than the big names. They might be more willing to take a chance on someone with a non-linear career path.
Bridge the Gap: You've been self-teaching, which is great. Consider formalizing this with a certification or course that's recognized in the industry to show your commitment to staying current.
Consulting or Advisory Roles: With your analytical prowess, you might find a fit in a consulting or advisory capacity, where your experience can be a significant asset.
Reframe Your Resume: Make sure your resume tells a compelling story. It should clearly articulate how your past experiences make you an asset, not a liability.
Prepare for the 'Why': Be ready to explain your career break and why you're returning to finance. Craft a narrative that shows growth and clarity of purpose.
Consider a Stepping Stone: If direct re-entry is proving tough, look for related roles that could act as a bridge back into your desired field.
Stay Persistent: The finance world respects tenacity. Keep at it, and remember that it only takes one 'yes' to turn things around.
Seek Mentorship: Find someone who's made a similar transition and learn from their journey. Their insights could be invaluable.
Remember, the finance jungle is dense and sometimes unforgiving, but with the right strategy, you can swing back into the game. Keep your spirits high, your mind sharp, and your networking game on point. Good luck!
Sources: Not sure what to do at this point, How Would You “re-do” Your RE Job Hunt?, Would appreciate some advice, How to Navigate FT Recruiting: Learn from My Successes/Failures, Disappointed and heartbroken
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