Laid Off from Buy-Side, Has Anyone Experienced This?

Hello,

Today is my first day as being a member of Wall Street Oasis and this is my first post.

I was quite fortunate to enter the buy-side immediately after graduating undergrad. The company I worked for had 6 mutual-funds and while we were small we had great success initially. I worked my way up from a junior analyst position to an actual equity analyst. I also became a CFA Level 2 Candidate within this time.

The past year has been incredibly difficult for the funds. As many of you know, the actively managed fund space has seen dramatic fund outflows. To add a cherry to that, we specialized in small caps which have been especially hit.

Last Friday, I was laid off from my position. I was the youngest person at the firm by the tune of 6 years and the last person to be hired in research. We had recently hired a senior analyst. I believe it was me or him and him being a full charter holder was the nail in the coffin given how low the companies resources have become.

I was also planning on leaving the position given many conflicts I had with the companies infrastructure, I think they beat me to the punch.

I was wondering if any of you have recently been laid-off or left a buy-side to position? I would love to learn your experiences, how you handled it, how quickly it took you to find a new position, etc.

I would like to remain on the buy-side. There are really only 3 respectable mutual funds in my area and chances of receiving a position from the others is slim so I am open to moving. I am also open to moving to the hedge fund area or even opening up my aperture further to the sell-side.

As many of you on the buy-side know, if you have been in the business you receive TONS of contacts especially sell-side sales people. My plan of attack to start is assess the opportunities in my region via my sell-side friends and also touch base with management teams from companies I have met that I'm also close to.

Thank you for any input.