Hey guys, I'm pretty down right now.
Yesterday I received an email that I was not being presented an offer for my dream job as a buy-side equity analyst at a value investing shop.
I'm not really sure what I'm hoping to get out this thread other than a place to vent, and maybe some advice on what to do going forward.
This rejection comes after 5 initial interviews, a 12 page stock report and Skype presentation and then 3 more interviews in person. I live on the west coast and was flown out to Toronto all expenses paid. I felt all 3 meetings were excellent, and was then notified a few days later that I had received positive feedback and advanced to the next step consisting of references and university transcripts. I had tried not to get ahead of myself but figured this step was routine. This was until yesterday, where I received an incredibly vague and generic email that I would not be presented an offer.
One of my three references is my current boss who I know spoke very highly of me, the other two I'm not as in close touch with (both were from prior internships) but find it unlikely they spoke poorly of me. My grades were slightly above average, this was the first time grades or transcripts were mentioned in any capacity throughout the interview process so again, I find it unlikely that they played a deciding factor. Now I'm back to playing the what if game, what didn't they like, what could I have done differently etc. While my job hunt starts again from scratch.
About me- I graduated December 2014 from a non-target, I completed 3 internships during undergrad and currently work in wealth management (team of two investment advisors, capital primarily allocated to mutual funds and ETFs) I have tried unsuccessfully to land a full time job as an investment analyst since graduating.
Value investing has always resonated the most with me, I've read countless books on the approach and have written several of my own research reports. As a result I have targeted junior analyst positions at primary at value shops. (I've gained minimal traction applying to sell-side research associate postings)
I really thought this was it and now its back to square one. I'm left wondering: should I move to Toronto without a job and continue to pound the pavement when I'm there? (this is something I did for a 2 week stretch in January), is a buy-side analyst position a pipe dream at this stage in my career? (I'm retaking CFA Level 2 in June) is there a job that I should be targeting as a stepping stone that I'm overlooking? Do I need to go do an MBA at a target school?
Again, I don't expect a magic answer but would appreciate any opinions people care to provide.
As I am based in Canada, I'm not sure how much overlap there would be with the US job market. I have interviewed with several of what I consider the best asset managers in Canada but feel like I fight such an uphill battle to compete with recent grads from target schools. Industry headcount is treading water at best and jobs are increasingly hard to come by.