Anyone else in VC struggling to get positive responses on job applications?
Long story short, I'm an investment manager with 3 years of experience at a corporate VC in Europe, with some internship experience at a large asset manager (6 months), and 2 small boutique M&A firms (1.5years combined).
For various reasons I'm looking to switch and I've been searching for roles at other VCs, GE fund, PEs, and startups (targeting Chief of Staff or strategic finance roles). Now, a lot of roles require local language knowledge so that filters out a lot of companies, I don't even try applying to those places. However even for the roles where I meet the language requirements, my success rate (i.e. I get a first round interview) seems very low.
I've also reached out to multiple headhunters (Darthmouth Partners, KEA, Blackwood, Walker Hamill, Norbridge), but the feedback was either that no roles are available or there was no feedback at all. Only one headhunter offered to jump on an intro call.
I haven't been on the job market since a while but I expected less difficulty with finding a new role vs when I was fresh out of uni. I'm not sure if there's something off with my CV, if it's just much more competitive at the mid-senior level, or if it's just a shitty labour market, but I'd love to get some insight from people in similar shoes.
Based on the most helpful WSO content, your situation isn't uncommon, especially in the current market. Here are some insights and actionable advice:
Market Dynamics: The VC and PE job markets are notoriously competitive, and timing plays a significant role. As highlighted in the WSO threads, VC firms often hire off-cycle, and many funds may not be actively hiring if they haven't deployed a significant portion of their capital. This could explain the lack of responses despite your experience.
Mid-Senior Level Challenges: Transitioning at the mid-senior level can be tougher than entry-level roles. As noted in WSO discussions, there are fewer openings at this level, and firms often prefer internal promotions or candidates with highly specific skill sets. Your corporate VC background might not align perfectly with what some firms are seeking.
CV and Positioning: Ensure your CV is tailored to highlight the most relevant aspects of your experience for each role. For example, emphasize deal experience, strategic insights, or operational expertise depending on the target role. If you're targeting Chief of Staff or strategic finance roles, showcase leadership, cross-functional collaboration, and problem-solving skills.
Networking: Networking is critical in VC and PE. Beyond headhunters, leverage your existing network, including former colleagues, portfolio company executives, and industry events. As mentioned in WSO threads, VC is heavily network-driven, and personal connections often open doors more effectively than cold applications.
Rejection as a Learning Tool: Rejections can provide valuable insights. If possible, seek feedback from firms where you interviewed or from trusted contacts in the industry. This can help you refine your approach.
Consider Broader Options: If the VC/PE market feels stagnant, exploring roles in startups or corporate strategy could be a strategic move. These roles can keep you close to the ecosystem while broadening your skill set.
Headhunter Strategy: While you've reached out to several headhunters, it's worth noting that their focus might not align perfectly with your profile. Continue engaging with them, but also explore boutique firms or those specializing in your target geography or sector.
Remember, persistence is key. The labor market might be challenging, but refining your approach and staying proactive will increase your chances of landing the right role.
Sources: Private Equity vs Venture Capital - Differences and Similarities, Private Equity Operations / Portfolio Career Path, From Private Equity Associate to VP in Private Equity, https://www.wallstreetoasis.com/forum/venture-capital/corporate-venture-capital-vs-independent-venture-capital-firms?customgpt=1, Q&A: VP in Private Equity (Growth Equity + LBO)...Post-MBA...Formerly IB Analyst
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