Getting job after 2-3 years unemployed

Background:
I've been working for 6+ years (4 in IBD, 2+ at a HF). I enjoy my job, and am committed to being successful in the industry (PM) in the long term.

But in the back of my mind, I've always thought about quitting and traveling for 2-3 years before I settle down (family/kids etc). For obvious reasons, very concerned about getting a job when I come back.

I'm specifically looking to get the perspective of senior level employees on the buyside.
How bad you think this looks on a resume?
Are there any ways to make it look constructive?
Any other general thoughts?

And before people mention it:
I have no intention of doing an MBA
I have sufficient savings to get me through 3 years unemployed

Thanks!

 

Way to be super dramatic. Advising against a 4 year break mid career is the "dumbest comment" you've read in a long time? Get real dude.

“Elections are a futures market for stolen property”
 

Ya I have seen that attitude from many people. But as someone who's seeing my parents STILL working... I don't have any faith in retirement. My dad spent his prime years (25-45) working day and night so that we could have a better life. Even now my parents don't travel much and at this age are more focused on health-related issues rather than leisure.

I've worked like a dog for 10+ years, saved money, and have earned my time off. My ambition is stopping me from just quitting and "figuring it out" later. If you have constructive advice, I'd appreciate it

 

I've given you my view. It sounds like you've made up your mind. Not exactly sure what sort of answer you're looking for.. Are you expecting people to tell you "yeah, that's a great idea! You'll have no trouble finding work after a 4 year break!" I mean, there's a reason why you're seeing this attitude from so many people. Apologies that you don't consider this "constructive."

EDIT: An MBA is a productive 2 year break but it looks like you've ruled that out as well..

“Elections are a futures market for stolen property”
 
Best Response

Why don't you ask your firm if you can take a year-long sabbatical. Be honest about why. You want to travel and do some things while you're young, and think an MBA is a waste of time. I largely agree.

They almost surely won't give you more than a year, but I've seen plenty of firms let employees take a sabbatical and return. If you're good at what you do and honest about it, maybe they'll let you.

To be clear, you need to be fully willing to walk away regardless of their response when you ask the question. They'll know at that point that you're considering leaving, so you need to be willing and able to do so when you have that conversation.

If they say 'no,' you should be aware that getting a new job making similar money after your travels might be harder than you would ideally like. Still, I understand wanderlust. Your company might as well.

 
brotherbear:
Why don't you ask your firm if you can take a year-long sabbatical.

Yeah this is a great option.

My previous company offered up to a 27-month sabbatical. Its a great option; downside is you come back and you're 27 months behind everyone.

But what does that mean? What does it mean to be ahead, to have a higher salary, rank and amount of power?

You'll probably forget about all of that on the sabbatical...

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

I'm going to give you some real answers to your questions since I have almost an identical work experience as you:

  • It looks really bad
  • This industry is about compounding knowledge and none of the PMs I know would hire someone who's been out for more than 6 months
  • If you really were to do 2-3 years, the best thing you can do is to register a LLC and call it "Sabbatical Capital" before you leave. This way it shows up in a stringent background check and you can claim you were running your own book during this time and won't be viewed as someone that was totally locked in a cave somewhere in Afghanistan (which is how PMs will view you).
 

I agree with the above. Not in the HF industry but in "high" finance. The best place to pull a 1 year sabbatical is IBD, and even then its not super easy coming back. I cant imagine this in a markets job with the fast-flow of information nowadays. Look at it if you left 12/31/16 and came back 12/31/17 and what you missed, its insane.

But do what you gotta do

 

Very few finance firms will allow employees to take a 1 year sabbatical, except in cases of maternity leave or family emergency. A 2-3 year break is unheard of.

  1. If you are so burned out, that you feel that sticking around will make you unproductive, then you should take a break, but it should be a reasonable time frame (3-6 months max). Your sabbatical would be short enough that you can explain the resume gap, and provided that you stay abreast of the markets, you should be fine in terms of getting a new job.

  2. If you really insist on doing a longer 2-3 year break, then you should accept the fact that in most likelihood, you will not be returning to the hedge fund industry. Use the time to acquire new skills (i.e., learning a language, learning to code, machine learning) and see if you can use the money you saved up to launch a start-up. This is a huge risk since most start-ups fail, and if you are looking to raise a family soon, it's not an advisable path.

  3. Correct me if I'm wrong, but it sounds like you like your job but am burned out. I know you had ruled out an MBA, but I would actually do the following. Talk to your boss about your desire to stay with the firm and grow but think that an MBA may add skills and a network that will make you a better employee in the long-term (this may be total BS but stick with the script). Ask him if he would be open to paying for your MBA tuition at a full-time program in return for you agreeing to come back to the firm for 2-3 years. It's a longshot but worth bringing up, since as other posters have mentioned above, a top MBA is a damm good way of taking a 2-year break without hurting your resume.

 

Yea the plan would not be to take a sabbatical... that was just suggested by someone here

  1. I'm not burned out. I just think the value of travel > value of working for the next couple years.

  2. Yep I would need to accept that. But maybe I get into AM or Insurance, something long-only where my skills would continue to be utilized

  3. Again, not burned out. I continue to be very productive and am good at my job. My firm has no interest in my personal growth (last person who said they wanted an MBA is now persona non grata). In any case, I will never do an MBA - seeing the real world is 10x better than that 1% scam

 
roversam:
Umm what? Who cares about this?

Something along the lines of 8.8 million jobs disappeared during the 08 recession.

During a recession jobs will be fewer. Competition for said jobs will be higher. If a candidate is walking in the door having been on vacation for a few years, I'd imagine it would be tough going.

If the glove don't fit, you must acquit!
 

I disagree with much of the advice here. I know guys who went to tech for 2.5 years then back to fund.

Especially for hedge fund guys. Seems like an area where you are allowed to think and life experience can be beneficial.

2-3 years might be too long but I think 1 year can certainly work.

Didn’t Jim Rogers do this a few times in his life?

I know guys who got hit with 1+ year non competes. And eventually found there way back into the game.

 
traderlife:
I disagree with much of the advice here. I know guys who went to tech for 2.5 years then back to fund.

Especially for hedge fund guys. Seems like an area where you are allowed to think and life experience can be beneficial.

2-3 years might be too long but I think 1 year can certainly work.

Didn’t Jim Rogers do this a few times in his life?

I know guys who got hit with 1+ year non competes. And eventually found there way back into the game.

I don't want to hijack the OP's thread, but is going from tech back to finance a realistic move? I'm wondering since I'm at a FAANG tech firm and am dying to return to finance.

 

Here’s what I would do if I was in your position and wanted to travel the world for 3 years.

Bear in my mind, this will depend on your sales skills, and how imaginative/entrepreneurial you are.

Step 1: Register a LLC called ‘Roversam Investment Partners.'

Step 2: Buy the domain roversaminvestmentpartners(dot)com.

Step 3: Start a blog on the website, and upload research reports on how to invest in American tech companies, or healthcare companies, or crypto, or whatever investment strategy you know. You could even outsource this if you suck at writing - as long as you actually have the knowledge.

Step 4: Get your new company’s social media on point via Facebook, Linkedin, Twitter, Instagram, Youtube. And upload everyday for 3 months to build a following.

Step 5: Buy ads on Facebook and Linkedin and target high net worth individuals and small asset managers in China, South Africa, Thailand, Jordan… wherever you want.

Step 6: Collect leads by offering free ebooks, or coaching calls and follow up on the leads. Market yourself as an American Investment Consultant or something just not a financial advisor.

Step 7: Charge $1000/hour for a face to face meeting.

Step 8: Travel the world and have fun, while keeping a pulse on the financial markets.

Step 9: Come back to NYC 3 years later, sell yourself to employers as an entrepreneurial individual who wanted to expand his global investment knowledge by exploring opportunities in untapped, illiquid, frontier markets, and now you want to leverage this new found knowledge in a structured environment like a hedge fund. They will love you because not only do you have the pedigree of working in IBD & a HF before, but now you have a twist to your profile which will be a great differentiator to all those other cookie cutter plebeians.

Step 10: Find a wife, have some kids; when they grow up, regale them with stories of your adventures and mishaps as a world traveller during a period of your life.

 

Worst advice ever....becoming an investment newsletter "guru" (which is basically what you're describing here) is a great way to get blacklisted from any reputable firm. In the eyes of most people in banking, newsletter writers are somewhere between scam artists and pond scum in the hierarchy of finance.....and rightfully so.

 

So far, best piece of advice.

I know it may regress from what you are searching for here, but my (personal) 2cts:

Hey man, enjoy life. As you said, you've worked hard and had a good run. Well done! There is so much more in life than this, which you already know.

Sure, be wise, don't burn bridges (or lie about doing an mba)... You know, nobody really cares... But YOU care: is your life! So go travel the world, meet people, have experiences, broaden your horizon... That in itself will be a larger learning than staying where you are. Whether 6 mons, 1 yr or 2, is your decision. You'll know whats right for you. And guess what: there are no guarantees in life (like returning to your exact same job/point, or for that fact that you even want to be there after a time away). Another financial crises or otherwise, everybody screaming for the exits and there you go... Tons of people looking fir a job, mirable because they didn't do sonething with their lives other than inverst time in an office, to get some shares (maybe worthless by then). Not sure how many crises most of the users (monkeys) here have experienced, but they are an eye opener. Mostvpeople will tell you don't do it! And is understandable to speak from a defensive position. But hey, it is your life!

Sure, you can keep some story ongoing like RedChamps suggest. Or who knows, maybe you find sonething better than wirking for a HF or iB and go found a nee venture, or meet a UHNW guy looking to open a family office, or decide your thing is art, scuba diving, teaching kids...

Go live, go explore, there is no such thing as wasted time, unless we decide it is so. You have demonstrated to have the drive and the skills to get where you are... Trust yourself!

Keep us posted what you decide, no worries, there are no wrong decisions, as long as you act with conviction, face the consequences and master the outcome (even if you need to work it out). And if you decide to travel, send us the link to your blog, if you decide to stay, then you can answer the questions some monkeys have on markets and ib etc

Good luck with your decision!

 

Not in the industry, but will be filing for an extended leave of absence from my employer in the coming months to travel.

Why not ask for a 3-6 month sabbatical. It might be sufficient to sate your wanderlust and is much more commonplace. If at the end of your 3-6 months you are not ready to return then at least its an informed decision at that point, you haven't blindly committed yourself to a two year timeline.

 

Mid-level person on buyside here. It's honestly a pretty hard ask. It will be hard to get a job similar to your current one when your return.

The MBA is obviously common and then you do get a LOT of off time. Many people take like 4-6 months on either side of the degree, plus you have lots of breaks, plus you get an MBA... Personally I think that's what you should do - even if you don't love the prospect at first. I can tell you that I found it very rewarding and I got more than enough travel time in (like 7 total trips to other continents). I went for the brand... I left with more perspective, with friends, a wife-to-be and much more.

 

Just wanted to give a slightly different take here.

  1. For Buy side in particular, this is really bad and it has nothing to do with your resume. No matter how much may try, your knowledge of your sectors will get stale quickly when you're not doing it 40+ hours per week. Even in six months, you could get stale. That is a very legitimate reason for someone to be wary of hiring you.

  2. However, that doesn't close all doors for you. I think people on this forum WAY underestimate how few job candidates are walking around with 4 to 6 years of banking experience. It's sort of a sweet spot for employers where you know your job inside out but are not as lazy or as well paid as a senior employee. If you went back to IBD with a little networking, I think that you could find a senior associate role fairly easily at a shop that just needs work done and wants to hire someone who has already done it.

  3. I don't know where these other posters have heard about these dream sabbaticals. I've been a good performer at all of my places of employment, but, I would be laughed out of the room for asking for a year sabbatical. This is banking folks, not university.

  4. Have you thought about studying for the CFA while traveling rather than the MBA?

 

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