After how many years as an Analyst in LO can you jump to a different LO without raising eyebrows?
Hey guys, I have 6yrs of experience at a top LO boutique AM ($75-200bl AUM) and am now a sr. associate. I got an offer from this smaller AM that's got about ~$15bl AUM that's a bit less well known in a city that I'm not too fond of. That said, beggars can't be choosers and I'm thinking of taking it for a few years and then jumping ship to a better big with an Analyst title
Reason is because I'm literally getting almost no even initial interviews in my past 1yr of searching because my title is not Analyst. I figure getting the title at even an ok-ish shop should be really helpful in landing the next gig. For more context, I have my CFA and graduated from a T20 UG.
How many years before I can switch to another firm if needed? If I like it here, I can of course stay but I want to figure out what the options look like if I want to leave. Is 2 years enough? Or is it more like 3+? I understand the holy grail would be getting to 10 YOE (so 4yrs) but would like an option to exit sooner if that's what I decide on. Much appreciated in advantage
Based on the most helpful WSO content, transitioning between asset management firms, especially from one Long Only (LO) to another, is a nuanced decision that depends on several factors including industry norms, personal career goals, and market conditions. Here's a breakdown of considerations for your situation:
Industry Tenure: With 6 years of experience at a top LO boutique Asset Management firm and holding a senior associate position, you've already established a solid foundation in the industry. This experience is valuable and demonstrates your capability and understanding of the asset management sector.
Transition Timing: Generally, a minimum of 2-3 years at a firm is seen as acceptable before making a move, especially if you're aiming to transition to an Analyst role at another firm. This timeframe allows you to contribute meaningfully to your current firm, develop new skills, and build a case for your next move. However, given your seniority and experience, a shorter stint might still be justifiable if you can clearly articulate your reasons for moving.
Title and Perception: The concern about your title not being "Analyst" and its impact on your job search is understandable. Transitioning to a role that grants you the "Analyst" title could indeed be strategic for your career trajectory, especially if you're aiming to pivot or ascend within the asset management industry.
Strategic Moves: Accepting the offer from the smaller AM firm with ~$15bl AUM could be a strategic move, provided you use the opportunity to gain the "Analyst" title and possibly take on more responsibility or cover new sectors/markets. This experience can enrich your resume and make you more attractive to future employers.
Exit Options: If you decide to move, doing so after 2 years could be seen as reasonable, given your level of experience and the strategic nature of your move. However, staying longer (3+ years) could provide additional stability to your resume and allow you to make a more significant impact at the firm, which could be beneficial in the long run.
Long-Term Goals: Reflect on your long-term career goals. If your ultimate aim is to reach a position at a larger, more prestigious firm, consider how each move aligns with this goal. Sometimes, a lateral move to a smaller firm can provide the title and experience necessary to leapfrog to a more desirable position later on.
In conclusion, while there's no one-size-fits-all answer, based on your experience and the context provided, a 2-3 year stint at the new firm could be sufficient to make your next career move. However, ensure that any move aligns with your long-term career objectives and that you can articulate a compelling narrative for why you chose to make each transition.
Sources: Analyst at 27 or head to B school?, How bad is it really... the back office, Q&A: 1st Year Analyst at MM IB, Re-Doing 2 YR IB Analyst Stint, Advice for New Analysts Seeking PE Exits
Once you've made the move, if you're invited to an interview, say in a year, there's no cause for concern. It simply indicates that the company is interested in considering you, regardless of your tenure at your current company. So, if upward mobility seems limited in your current position, go ahead and make the move. Just continue to apply for attractive opportunities from your new position.
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