I'm about to get laid off, what can I do?
I work in structured finance and we're having a bit of trouble in case you hadn't heard...I'm pretty screwed because I haven't even finished my first year yet. What am I going to do now? The economy and the job market are tanking. I'm not quite an experienced hire nor can I be a campus recruit. My firm is about to kill my career before it even had a chance. I have bills to pay man, promises to keep, and miles to go before I sleep...
Anyways, I guess I'm looking for some practical advice from people that have faced this type of situation before. What recruiters/headhunters are the best? What are reasonable fee structures? Give me a little insight on using these firms to lateral somewhere else.
What am I going to say to interviewers? Hey yeah, I had a great experience there but I guess I wasn't the best in the class but I am pretty good though! Shit, I am so screwed.







Hey man I can't offer much
Hey man I can't offer much advice, but keep your head up and best of luck. Everything happens for a reason, I'm sure you'll end up with something even better than where you started. Think about things in the long run and what you can learn from this experience. Hope everything works out.
hey
hey dude - when did you find out you were going to get laid off? how much time do you have? just wondering how these things are handled...previously, when i've seen layoffs, people were told to leave the same day and escorted out. just curious how your situation played out.
anyway, i know what it's like having seen rounds of layoffs before....but eventually you will land on your feet and things will work out. i can give you some contacts for leading recruiters if you'd like. just pm me and let me know more about the details of your situation and i'd be happy to help however i can.
First off, I don't think
First off, I don't think you're nearly as screwed as you think you are. I know people who actually QUIT their jobs midway through their first year and still found jobs elsewhere.
The fact that you were laid off because of the bad economy/recession makes it easier to position yourself - recruiters will definitely understand this. I would suggest contacting them right now as if you were looking another job because of slowdown in your group - you may not want to say anything about being laid off unless you are actually laid off and it comes up as a result.
They should not charge a fee to you. Recruiting firms charge the firm that uses them to recruit a fee, usually based on a % of the new hire's salary.
PM me if you want more specific advice... it's not the end of the world even though it may seem like it right now.
agreed with dosk..
getting laid off is probably one of the BEST reasons to be looking for a job. recruiters and potential employers understand that...and to any firm that's hiring, this is essentially a blessing because they now have access to young professional talent (i.e. people who can work hard for less pay) that might have otherwise been locked in on the sell-side for a couple years
Things will turn out right
Things will turn out right at the end of it all - even if it might mean a few years down the track. Best of luck! I ain't much more optimistic.
sorry to hear that man - try
sorry to hear that man - try breaking into the commodities desk? they're hiring. I'm sure you have some transferable skills
I'm sorry to hear that.
I'm sorry to hear that. It's rough out there right now. You said you have bills to pay. If you get laid off, won't you get a severence package that will at least keep you afloat for 3 months or so? This will give you a chance to search for a new job. Good luck
Stop whining. You sound
Stop whining. You sound like my girlfriend. You are 22 years old with limitless opportunity in front of you. It is not like you have a wife and child to support. You can get laid off 16 times and fuck around in your career through your entire 20's and early 30's and still be wildly successful. Use this as an opportunity to try something new and expand your skillset. I have a pretty good recruiter on file (PM me and I will send you his email). Good luck and hang in there.
Are You Sure You Wont Have A J-O-B?
I dont want to get your hopes up b/c I dont have enough specific details, but I feel comfortable saying that unless there is a wholesale clearout of your group (hopefully youre not in CDOs?), as a first year analyst youre probably in the best spot to be facing layoffs. At this stage, youre the most cost efficient labor in the business and firms tend to be slightly more sensitive about newbies on behalf of the recruiting process. Youre right to be practical though. This market is dire for structfin at the moment and firms might have their hands forced. So stay proactive like youre doing. I would also talk to your analyst class, see if there are openings in other groups at your firm - its usually easier for an internal candidate. Talk to other frends in the business, get out with them and network more. Also work on polishing up your resume and interviewing skills and definitely start conversing with headhunters out there. Directing control over things like this will help with the anxiety and helplessness you feel otherwise. And I know its cliche but youre young and you have your health. FK IT. You still have the talent that got you the job in the first place. Youll land on your feet. Hang in there.
some people are still hiring
http://jobs.dealbreaker.efinancialcareers.com/job-...