Career Change Advice: Moving from FP&A to Investment Banking After Job Loss

Investment banking Exit opportunities
1

Hey folks, I really need some advice on my career situation.

I’m 27 years old living in SoCal with a finance degree from a smaller university. Here’s my work history:

  • Almost 3 years doing corporate finance work at a big manufacturing company (Fortune 500 size)
  • About 7 months working as a senior financial analyst doing FP&A at a major asset management company

I got fired from my last job because of performance problems. Nothing crazy happened but my boss wasn’t happy with my work. This was back in late March so I’ve been out of work for about 3 months now.

Since then I’ve been studying really hard for the CFA Level 1 exam that I’m taking in August. I’m doing this full time right now.

What I want to do is get into the investment world. I’m looking at private equity, investment banking, or corporate development roles. My big goal is to make serious money eventually - like $300k or more in total pay within 5 years. I know that sounds ambitious but I’m willing to work really hard for it.

Here’s what I’ve been doing:

  • Sent out tons of applications for PE, IB, corp dev and credit roles
  • Reached out directly to hiring managers and other professionals through LinkedIn
  • Made it to final interviews a few times but no job offers yet

Now I’m stuck wondering what to do next:

  • Should I keep being unemployed and focus on studying plus job applications?
  • Or should I take some temporary or contract work so my resume doesn’t have such a big gap?
  • If I do temp work, what types of jobs would make sense and not hurt my chances of getting into investment roles later?

I’m trying to be realistic about everything but honestly this whole situation is getting pretty stressful. I’d love to hear from anyone who has advice - especially people who switched into these fields, recruiters, or hiring managers.

Quick summary:
27 year old guy with finance background, laid off 3 months ago, studying for CFA, want to break into IB/PE/corp dev roles, wondering if I should take temp work or stay focused on job search.

2

Getting fired for performance issues and then targeting IB/PE? That’s a tough path. These places are brutal even for people who’ve never struggled. If FP&A pressure was too much, 80-hour weeks at Goldman won’t be easier. Temp work’s fine, but you’re up against Wharton grads with clean records. I’d focus on nailing your next role before chasing those 300k dreams.

3

Don’t let this define you! Three months isn’t terrible, but I’d jump on temp work at financial firms right now. Shows you’re hustling and keeps your skills sharp while you hunt. CFA prep’s a smart move too!

4

Been there with the performance thing - rough but not career-ending. Here’s what worked for me: took a contract role at a smaller investment firm doing basic analysis. Wasn’t glamorous, but kept me in the industry and gave me recent experience for interviews. The gap hurts more than taking ‘lesser’ work right now. Don’t sleep on corp dev at mid-size companies either - easier entry and comp can get there eventually. You’re young enough to pivot, just be strategic.

5

Getting fired for performance issues can complicate your path to competitive IB/PE roles, as hiring managers may question your ability to handle pressure. You might need to rethink your approach and timeline; transitioning into IB at 27 from a non-target school typically means starting as an analyst rather than an associate. The goal of reaching $300k+ in five years is feasible, but you’ll likely need to land a position with a bulge bracket or elite boutique firm first. I’d recommend considering contract finance positions at investment firms or banks while you continue your job hunt. This strategy will help you rebuild your track record and maintain your presence in the finance sector, which will be beneficial in addressing the narrative of your previous termination and unemployment gap.