Considering changing jobs from funds product management at IB
NB: I have not considered this in great detail and am not a seasoned WSO-er. TL;dr - very bored in current job and want to move
-
I'm a recent graduate from British target who did a quantitative degree (though GPA not good, albeit with mitigating circumstances which HR was fine with) at a London BB's IM function in product management, although the desk also happens to help structure fund derivatives transactions on the Markets side, which is more technical (e.g. CPPI, VPPI) and more interesting. Interned last summer in two desks (derivs trading + structuring actually on the trading floor) - trading desk liked me but had no headcount, found the rates structuring job boring. I was offered a job in this newly created investment management function in the investment bank having interviewed with them at the end of the internship, though the role at the firm isn't actually called product management (sounds more technical than it actually is). I was told that it would involve a lot of documentation - not my ideal thing but whatever, accepted it because I need a job.
-
I've been doing the job for a few months now and I am not enjoying it for a couple of reasons:
- I have been doing very mundane work (think amending documents to reflect comments...) and do not feel like I am contributing much. I'm bored for most of the day and have no motivation to actually read up on stuff. One thing I'm sure about is that I definitely don't want to do this job for long. This COULD be remedied by me discussing with my manager.
- The fund derivatives/hedge fund financing side of the job, which is about 50% of my manager's job and about 0% of my job at the moment, is more interesting and my manager was planning on giving me Python projects etc. on these, which I feel are a better use of my skill set. However, I don't actually have a strong interest in this either
- I don't actually find launching funds interesting and would much rather be thinking about investment decisions or analysing investment strategies...and maybe possibly trading
- Basically, I want to be doing a more analytical role but not TOO quantitative, if that makes sense. I'm at the stage of exploring my potential avenues:
- Buy-side analyst/apply for investments grad programme?
- Try to move laterally into maybe investment strategies or the portfolio management side that we directly work with.
- Wait it out for a few months and prepare for the IMC before applying since I don't have direct experience in investments
- Move into sell-side trading here or somewhere else (either laterally/grad programme)
In terms of contacts:
1. I am acquainted with a guy who is a former HF manager (~$2bn AUM) and tutored this guy's daughter. He told me that he is happy to talk should I decide to get buy-side experience (he did offer me an internship with one of his HF contacts/told me that he has many) ...long story short, should I talk to this guy?
2. Talk to the university alumni guy at my firm who doesn't actually work in Markets and who has helped some other person move divisions laterally
3. I'm from a pretty small country and am acquainted with some traders from that country in a few BBs - should I ask them for advice?
Other background:
- Did another internship in equity derivatives structuring and CMBS structuring at another BB (though didn't convert). Found equity derivatives structuring interesting but didn't like the team.
- Relatively decent at Python
Feeling pretty demotivated right now since I do not want my job to comprise reading legal documents all day every day.
Questions for you guys:
1. Which career move is the most sensible/attainable given my experience?
2. Should I seek the buy-side route, would the IMC help my application?
3. Do you advise contacting any of the above?
Dignissimos non itaque reiciendis maxime. Neque consequatur qui sint. Quaerat optio omnis inventore beatae minus. Doloribus aut rerum ut neque voluptatibus et doloribus ut. Harum veritatis tempore quam dolores asperiores. Pariatur quaerat et nisi non magnam.
Voluptatem corrupti autem consequatur eius possimus et ea fugiat. Voluptatem nisi necessitatibus ipsum facilis adipisci ea pariatur quo.
Accusamus laboriosam nulla dolor consequatur corrupti rerum repellendus. Quis quia consequatur asperiores repudiandae ab libero. Odio libero asperiores et consequuntur praesentium delectus voluptatibus. Reprehenderit pariatur adipisci quia assumenda at.
Et illum id ipsum maiores quam repudiandae doloremque accusamus. Et itaque reprehenderit nobis magnam dolores quisquam. Debitis maiores eveniet maxime qui. Veritatis eos sint facere occaecati ducimus. Numquam quod totam doloremque et qui placeat aliquam itaque. Neque perspiciatis esse suscipit error consectetur culpa ex.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...