Quit Banking after 3 months
Well turns out I did not enjoy banking after all. Started as a recent graduate and just have my 2 weeks after 3 months on the job. Banking was not for me, the PowerPoints, the legal jargon, having to do email chains in order of rank, and the rest of the nonsense wasn’t for me. The 100 edits an hour before a Pitch when I sent the deck days before. The nitpicky shit that is so meaningless. Being a slave to companies/PE/strategic buyers was brutal.
Landed at a large single manager HF. I have always loved the public markets and was going to stick it out for 2 years until I had a chance to make the switch, but an opportunity came up that I could just not pass on.
Goodbye & good riddance banking - my cup of coffee in banking will not be missed!
And fwiw, am a non target at a UMM shop
How did you find the HF opportunity and how did you land a job after only 3 months of experience? Congrats.
I had previous public market experience throughout college
Diversity/URM?
white male. Hard networking and solid foundation in Public markets with actionable portfolio ready ideas.
What is an UMM bank?
presumably UMM HF
How common is this leaving so soon and still landing something?
Let me clarify, I left with offer in hand from new shop. Had this not been the case I would’ve stuck it out until an opportunity that made sense came around.
This is probably fairly uncommon, but definitely people 1 year making the switch.
Not common or really advisable at 3 months, unless you have some solid lead like this guy. Seen a few dip around 6-8 months and get good opportunities though (MM/UMM PE or strong corp dev)
100% would not advise anyone to unless exit opp is completely set up
How were you able to find time to prepare for interviews / carry out the interviews? In 3 months, I am assuming you were busy learning the ropes, potentially studying for the FINRA exams, and etc... Congrats nonetheless.
I completed one of the required FINRA tests. The shop I am headed to is close by to me on the West Coast, so was able to get some in person interaction. Had build a relationship with them over the years and they lost an employee and timing just worked out.
What FINRA certification did you have to get and is having a FINRA certification necessary/standard for the HF industry?
Awesome dude, happy to hear it!
Congratulations and good for you man. Best of luck in the new job!
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What’s large? >1b? >10b?
B/t 5-10B
Congrats. But when you say you had "previous public markets" experience in school, what do you mean by this? Clubs?
And how did you convince them to take a chance on you versus someone more experienced? I imagine because you're well-versed in investing, and during the invertiew process, you detailed your opinions about the market and certain companies/investment opportunities?
Had several internships/part time jobs at funds throughout school. Mostly smaller shops, but direct access to PM, etc.
I am by no means an expert, but I am well versed on the investing side of the book & can articulate a thesis on a strong manner. I was able to present actionable ideas to the fund that were not judt your typical buy google-amzn pitch. These were specific
Specific to the fund (ex: small-cap tech) and even got so as far to convince a Pm to put one of them in the portfolio.
That's aweseme. Sounds like your passion for the markets was evident, as was your hard work... congrats.
Do you have advice to prepare interviews? I have no prior experience in public markets nor actionable stock pick yet, but not sure where to start.
Thanks a lot
I'd always wondered about the day to day in banking. Glad you found out and now know what you don't like.v
Lucky SOB. Congratulations and fuck you. Brb turning comments for meeting in 4 hours.
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