Ask the expert: Is the grass greener on the sell side?
Our panel of experts answers career questions from readers. Other readers can contribute their views.I'm currently working as a sell-side analyst but am finding it hard in terms of hours/lifestyle pressures and the arse-licking necessary to succeed. I am thinking of moving to the buy-side where I believe I can still use the same skills but in a better work/life scenario and perhaps offering a fresh mental challenge. The problem I'm having is conveying this well at interview - perhaps giving the impression of low commitment and motivation. What do you advise?
The first thing you have to realise is that you can't sell a negative. Don't talk about the aspects of your current job that you don't like, but think about what you do like and talk up the transferable skills you would bring to the buy-side.
Moving from sell-side to buy-side is less common than the reverse. Use this to your advantage by focussing on the deeper understanding of the business you will have through knowing it from the seller's perspective.
You also need to be clear about why you want a buy-side job. Are you sure you know this yourself, or do you just imagine that the grass the grass is greener on the other side?
All you have told us is that you think you could use your current skills and 'perhaps find a new mental challenge'. What a downer! That sounds like 'I don't have to make too much effort and I might find it less boring'. You need to come up with some better reasons than that if you want to impress prospective employers.
So ask yourself some basic questions about what you want out of life and work. Network solidly with buy-side contacts to get real detail on whether it's the job for you and on what they like about their jobs.
Finally, if you do make it to the buyside - don't forget how much you hated arse-licking and make sure you treat sellers in a way you would have liked in your previous life.
Next week's question: I accepted a graduate offer in February to join a firm in September. The
document I signed was an 'offer letter' which had stated the starting period
as Autumn 2004, a minimum salary and working hours. The full contract is yet
to be signed, as the company are finalising the terms. I have now been
offered a far better job which I am really eager to take. If I withdraw from
the first offer, are there are any legal problems?
What would you advise? Send your answer to: expertadmin@efinancialcareers.com.
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