- Working Part Time at an Investment Bank (www.performcap.com)
- Job Hunting and Interviewing
- Studying for the CFA Level 1, test in December
- Starting a new internet venture
- Doing Outplacement Coaching with KnightsBridge
So, first things first, I am working part-time at an Investment Bank!!! I got introduced through a friend in Vancouver who runs his own Investment Bank and advisory services firm in Vancouver. It is part-time work with him through the fall/winter. There are a lot of companies that are out there that need equity investment, and our job is to find them the money. He has an amazing track record and I am doing a lot of the execution while he does business development.
So far, I have worked on two capital raises, one for a middle-market small wind manufacturer and the other a new smart-grid home automation. Additionally, I have been heavily involved in a merger of two high tech firms that we introduced to each other. They are just going through due diligence now, and once that is completed, we will be doing another equity raise for the NewCo. There will likely be some follow on management consulting to work through the change management of the merger. It is good experience for a longer term goal of Private Equity, or I may just stick with this.
I pretty much gave up on job hunting in NYC in middle of October in the field of Private Equity and Investment Banking. I understand why people are Occupying Wall Street; the job market sucks. I did the best I could while in NYC... I networked like a ninja, I met some amazing people, who introduced me to more good people, I met with the big firms, I chitty chatted, I was inside every Starbucks in Lower and Middle Manhattan.
I did one mail merge (i.e. Spam) to hundreds of people that work in firms that I would like to work in. So far I have covered firms starting with Numbers, A & B, which was 500 contacts. Out of 500 contacts, I received 3 call backs and I still have C-Z to contact. One of those call-backs is a turn-around Private Equity firm. They are starting a new fund in January and will be looking to hire a few people in that time frame to start looking for new businesses/assets and then turning them around (drool/dream job). It got me thinking, that my resume should really be marketing myself as a "turn around" specialist, given that I worked as a manager in 4 different roles, making the programs high performing.
I started working on my CFA Level 1 in October. The test is in December, in two weeks. There are 4000 pages of material to cover. I have covered 3600 pages to date, and still have 400 to read. I have yet to do a practice exam. I am using Analyst Notes as my study aid package because the books don't have enough practice questions in them and can be, uhm... verbose. Starting to study in October was a huge huge mistake. The CFA suggests 600 hours, I likely have done 300 hours, and 600 hours is probably right. I should have started simpler, with something like the Canadian Securities Course. A friend who I did my MBA with suggested that way back in June, and I really should have listened to him.
Next week, I start outplacement coaching with Knightsbridge here in Vancouver which should be an amazing experience. I already did a Birkman personality assessment and the number one job family is: Consultative Intangible Sales such as Marketing and/or sales of intangible products or services; include stocks and bonds sales, medical services sales, bank marketing. Interesting.
Now, I have to admit, that I am starting to miss the salary and stability I had working as a Senior IT manager in large companies. The money was good, the work was good, the people were fun and it certainly wasn't as cyclical as working in Investment Banking. My resume as an IT Manager is "out there" and I get called quite a bit, particularly from the NYC job boards for some pretty interesting roles. I am throwing my application in for choice jobs in the field I do see. It is tough to ignore 10 years+ of experience in that area, a degree in electrical engineer / control systems, the salary and benefits that go with it. Career Hedging vs Financial Hedging. Real Engineering vs Financial Engineering. Hmmm...
All the best*
-Brian.
* Free Tip... everyone involved in investment banking ends their e-mails with "All the Best" or "Best"
