Analyst Let Go from my Team - what do I do now?
The analyst on my team was recently fired / was let go. Where do I go from here? I'm only 1 year in and not sure if I should start looking for new opportunities in Equity Research?
Sorry to hear that. You are "orphaned" - depends on the firm, at some place, the DoR will ask around other analyst teams and see if anyone is willing to take you in, then you interview with them and hopefully get placed. At other places, you will be let go too.
You in touch with your old analyst? Doesn't hurt to keep in touch and see what their plan is. If they plan to go to another shop, wait and tag along if they let you.
Oh, I see you're in a bit of a pickle there, aren't you? But don't worry, I've got your back.
Firstly, it's important to understand that being let go is not a death sentence in the industry. It's like the NFL, but for finance. Sometimes guys get cut who can still play. If you're good at what you do, you will get picked up by someone else as long as you keep hustling.
Secondly, it might be a good idea to check in with your senior team members and ask for feedback on your performance. Reflect on your yearly review and work hard to make sure you're improving. An honest conversation with people to see if you're on the right track for an Associate promotion can be very helpful.
Lastly, if you're feeling uncertain about your future in your current role, it might be a good idea to start looking for new opportunities. Equity Research could be a good fit, especially if you're interested in that field.
Remember, the job/career might change but your character and knowledge won't. Keep your head up and keep pushing forward!
Sources: What if you're fired as an Analyst?, https://www.wallstreetoasis.com/forum/investment-banking/laid-off-analyst-looking-for-opportunities?customgpt=1
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