Job cuts at AM - trying to move
I am seeing in the news that Blackrock cut 3%, Fidelity a 1000, and Abdrn few.
Any insight from ppl who are at AM - trying to move to AM after two years of IB (public equities) from top EB and - unemployed.
The processes seem to be incredibly slow - the seats are limited and very selective.
There is no early professional program apart from few at big AMs - based in London. The idea is to move into Equities and learn Long strategy and have a seat as an investment analyst or make a move into pods of L/S in the US.
My understanding is that ER ppl from banks get picked up directly by AMs
Is there a way to network at AM?
Shall I shoot PMs cold emails?
What is the best way to land a role at AMs?
Did you get laid off or quit? That kind of makes things doubly hard regardless.
Indeed long onlys tend to prefer ER guys Vs IB guys. L/S pods don't really have the same hang up so why not go there?
FIL has been in trouble for a while, I wouldn't necessarily use BlackRock and Abrdn as a gauge for equities either. But yeah there aren't many seats here at the best of times, this is well known. Hiring is sporadic. A few LOs use headhunters.
I've generally had pretty infrequent LO inbound and recently sell side attrition at my bank has not been to LOs at all which is a big difference to 2+ years ago.
Wanting to move to a sector team internally and waiting for few months after quitting my team then left with a mutual agreement on a set day.
Do you have a list of HH in LN?
Shall I try to move to ER first in order to increase my chances?
Only BB was Barclays which was hiring in ER - not many position openings.
M&A hiring is picking up now in LN
In terms of L/S pods - been trying too but no luck so far
Nah I don't have a list. You can probably find something on WSO. I've only ever seen LOs go through HHs tbh.
L/S you should be speaking to biz dev and being prepared for a soft interview.
Going to ER? Not sure. Speak to a decent HHer (not a new grad) first and see what they say. Don't think IB -> LO is impossible, just less common. Probably something to do with the comp stepdown too. IB -> L/S is very possible. Even (and maybe moreso) beyond the pods.
Can I DM for a detail feedback on my approach to L/S and LOs?
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