So here's my story - I had a run of several years in equity research at a BB, but wasn't happy with my career progression (worked for a selfish star analyst) and resolved to leave. A couple years ago, I took a role in regional management at another BB working on a new market entry initiative and various strategy/cross-divisional projects. This bank ended up in some turmoil (and the "new market" became less attractive) so my position was made redundant amid a wave of recent cuts.
It's a challenging situation and I'm imagining the following possibilities:
- Go back in the direction of research (not easy at this point)
- Another strategy/group management role in financial services somewhere
- Some type of buy-side role (but research, distribution or product?)
- Corporate development/strategy in another industry
The difficulty is that my background is now mixed up, whereas most roles call for specialists. Also my network isn't in great shape, since my last role was quite internal. Some questions on my mind:
I'm advised by people to cold email/call hiring managers and it's a matter of connecting with the right people over a coffee. But I'm quite wary of this approach. In my experience, I've found a lot of senior bankers to be non-responsive even to colleagues, so the odds seem low. There are only so many sizable banks or asset managers around, so I don't want to be "snubbed" by the relevant senior ppl across the street in case there's a chance later to apply for a job more conventionally, or be introduced via headhunter. Any tactical advice?
I see some hiring for positions that are a great fit for my background, but at a level that is too junior/senior. Is it a good idea to apply anyway and hope to talk up the position? So far I'm not getting responses from this approach, so the HR screening seems strict. I've also considered - i) applying, then figuring out who the hiring manager is and making a parallel introduction via LinkedIn or email (becomes harder to talk up the position when you've applied at the junior level?), ii) not applying through the system, but approaching the hiring manager with a general expression of interest.
Which of the following is the most acceptable way to approach people cold? i) LinkedIn Inmail, ii) Send a LinkedIn invite and only follow up with a message if they accept , iii) directly email their work account
Can a headhunter really help someone in my situation? I've met a bunch who name-dropped this and that bank where someone like me would fit, but there's been no follow up. It's no mystery who the decision makers are at different firms, so maybe it's advantageous to approach cold without the headhunter's price tag attached? Or do they still value the headhunter's service screening for appropriate candidates?
Any thoughts appreciated!