“I want to move to the buy-side.”
“Do you have any roles on the Buy-Side?”
Recruiters hear these comments and questions ALL THE TIME. Great, but what exactly do you want to do on the buy-side? Let’s bust some myths about switching from the sell-side to the buy-side and in the process get you and your resume ready.
Myth 1: Your sell-side job has you perfectly prepared for a buy-side role.
Reality: While in some cases, your sell-side job translates directly into a position at a buy-side firm. In most cases even sell-side analysts are going to need to do some work to stand out and have a resume that demonstrates a clear value proposition. The buy-side is notoriously over subscribed and there really is no one “recruiting season” like there is for sell-side banks. You and your resume need to be ready when something opens up.
Myth 2: Your expert Excel and modeling skills make you a top candidate.
Reality: Modeling skills alone won’t cut it. Assuming you are looking for a job in investments and not one of the other great roles on the buy-side just knowing your way around a financial statement and Excel isn’t going to cut it. Those skills are table stakes.
Myth 3: Of course I’m analytical! I work for an investment bank.
Reality: No, actually, in order to get a plumb job as a buy-side investment analyst you are going to need to demonstrate how you are analytical. How would you analyze an investment opportunity? What sectors of the market are you excited about? What is your outlook on the market? The economy? Have you considered taking the CFA? The CAIA? Even if you have an MBA these certifications can demonstrate your dedication, curiosity, and intellect. Not you at all? Don’t fret there are actually other roles on the buy-side where you might be a great fit if you really feel that side of the business is your calling.
Myth 4: I don’t need sales skills for an investments job.
Reality: Your rock solid qualitative and quantitative analytical skills won’t get you anywhere if you can’t convince people to go along with your investment recommendations. Effective communication skills and the ability to to influence others will enhance your career prospects on the buy-side just as much as the sell-side. If your resume is riddled with errors and awkward phrases and your networking skills are leaving people cold you’ll have a hard time getting your foot in the door.
Myth 5: I’m a great candidate! I have all the right credentials, just like all the other top associates at my bank.
Reality: Hedge funds and private equity firms want folks who can think for themselves and bring a different perspective. Independent thinkers will help them find the next 20x investment not the next 5% gainer. In this ultra competitive market you can’t just look like all the other smart, well credentialed applicants. You’ll want to find and display a unique edge and perspective so you and your ideas stand apart.
How Can PRP Help?
We understand the financial recruiting landscape and have extensive experience working with hiring managers at Bulge bracket banks, Elite Boutiques and Private Equity firms. We can help you pinpoint what went wrong and help you course correct so that it doesn’t happen again.
Prospect Rock Partners Services
- Clean-up, reformat and retarget your resume so that you can secure more interviews
- Linkedin profile analysis
- Sample mock interview questions
- Sample technical interview questions
- How to Break into Banking Networking Tips and Tricks
- Target Company recommendations
- Target Company Prep Exercises
- Mock-interviews
- Develop a customized networking strategy
- General guidance and support
We know the banks and know what they are looking for. With our guidance and support we will help you navigate this ultra-competitive job market and land your dream role.