Just got the news last Thursdday, our management has decided to let go of our team (since we have teams competing in the same sector/II category).
I was already looking to move, but I am now worried where I can go.
1) I don't want to do IR
2) Been trying to do Corp Strategy or Corp Dev (but keep getting beaten by people with more experience)
3) My personal investing style matches long-only AM (longer term view) as opposed to HFs. The mutual fund route is difficult just because of the move to passive funds.
4) I don't have programming skills to transition into Data Science (where a lot of people are going)
I feel like I am out of options here? Any advise would be helpful?
BTW I used to be in EQR TMT space.
my name is goldstein Avoid this field bro.
The only thing I can think of is shooting for corp dev positions outside of where you currently live now.
Bval.... there's always Bval
Might be hard but have you considered getting into credit research?
Never considered credit research, and tbh dont know how much of the skillset (technicals) are transferable.
I was thinking of applying for EQR at other banks, but the issue has been that research is getting whacked across the board.
How senior are you? Is anybody in your team getting recruited to another broker? Really need more details to be helpful.
Yeah I've definitely seen teams fired at one place only to be hired somewhere else. Downside is that you're waiting on something that could never materialize if your senior analyst doesn't land anywhere.
It might be a tough sell to break into credit (equity carries a stigma) but you can probably spin your story.
Good luck
Can't really help while operating in a vacuum.
What does your resume look like?
Not sure what you're looking for, you listed all the options already. This board can't really help you beyond that, it's up to you to network and get those interviews. Good luck.
Was skim reading and saw, "My team Just got Laid."
DUDE AWESOME!
...But then I kept reading.
All I really took from your list, was that you can't do a lot of things because of external factors. You've gotta change your mindset and start believing that anything is possible. An optimistic perspective will carry with you into your future interviews / prospecting calls. Always stay optimistic through transitions.
Have you thought about transferring to front office IB at a LMM / MM / BB? ...if you respond to me that you can't because of something, I may have an aneurism.
Even EQR at different bank might be a stepping stone, i might add
I wonder if it was that no name firm in the east coast.
I heard they write their own reviews.
They are being sued by a group of former employees.
I have been in equity research for the last 10 years and just gave notice a couple of weeks ago after accepting an offer to join a middle market PE firm. I would consider looking in to this route in addition to Corp Dev.
Business School?
Yeah I would agree with this
As someone coming from a data science bootcamp, trust me: jump right the fuck in. It's not as hard as you think.
I think DS is pretty good role too in AM but this site has the KKR or bust mentality
Yeah, except that nobody from here is working at KKR.
In my humble opinion, when considering junior roles that aren't top opportunities (HF, IB), if the job is Excel-based then it's setting oneself up for failure. Even middle office roles are pushing people to do "lite" analytics with SAS. I look back with shame at the days I thought index/match, subtotal, etc. were useful features.
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