ADVICE!! What to do after getting fired? When to tell ?

I’m a HF analyst at a SM with 5+ years of experience, was let go recently. They will keep me on payroll for another 2 months. But I don’t think I will get a super strong reference from here.

I’m not sure what’s the best thing to do here:
1. I’m in a recruiting process with a top tier firm, started before I was fired. Do I need to disclose this new information to them? What if they find out during background check?

2. When I talk to HH/additional firms, do I need to tell them that I am unemployed? Or I don’t need to do that until the end of my severance period?

3. Am I better off finding a MM seat as soon as I can and try to shop around from there? Or I should search patiently until I can secure a decent role?

Any advice will be welcomed !

4 Comments
 

Based on the most helpful WSO content, here's what you need to know:

You are not obligated to disclose being laid off to headhunters or in interviews unless directly asked. The key is to frame your narrative positively and strategically. Here’s how to approach it:

  1. For Headhunters:

    • Headhunters are your allies, so it’s often beneficial to be upfront with them. Explain that you were laid off due to broader circumstances (e.g., firm restructuring, market conditions, etc.) rather than performance issues. This helps them position you better with potential employers.
  2. In Interviews:

    • If the topic comes up, focus on the external factors that led to the layoff (e.g., "The firm was reducing headcount due to market conditions"). Avoid being defensive or overly detailed.
    • Highlight your achievements and skills, steering the conversation toward your value as a candidate.
    • If not asked, there’s no need to volunteer the information. Instead, emphasize that you’re seeking new opportunities to grow and contribute.
  3. Timing of Disclosure:

    • You don’t need to disclose the layoff immediately or during the severance period unless asked. If your severance package includes a non-compete or other restrictions, ensure you’re clear on those terms before discussing new roles.
  4. Networking and References:

    • Secure strong references from your previous role to counter any potential concerns. This can reassure future employers about your capabilities.

Remember, the goal is to control the narrative and present yourself as a strong, forward-looking candidate.

Sources: Being Fired and being upfront about it, Was just asked to resign...what should I say on interviews?, I’m being fired but am supposed to start at another bank this fall, Are you interviewing with any other banks/firms?, https://www.wallstreetoasis.com/forum/job-search/suing-a-former-employer?customgpt=1

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Two months is plenty of time to go through the process with the top-tier firm. Can still start talking to MMs.

 

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