I got axed last Friday without any specific items of my performance brought up and never had a warning or sit down to discuss that my performance was inadequate. I started the job back in June so I was still fairly new and still getting the hang of things.
Any advice on what to do in this situation would be much appreciated.
Thanks in advance.
Was the fund doing poorly? Were you the only who got axed? Did you ask them why?
Fund is up and I was the only one that got axed. Didn't really have time to ask why, my manager gave a broad statement then said it was my last day and walked out.
Were you doing some unstructured internship/full-time-temp role? What were your daily responsibilities? A manager wouldn't just fire for no reason and a responsible employee wouldn't just go home without an explanation of why.
You need to figure out why and make sure you start reaching out to headhunters to get interviews.
I've started reaching out to headhunters. If you have any recommendations on headhunters, I'd also appreciate it.
Target geography?
For legal reasons, firms tend to give very little, if any color as to why they are terminating your employment. I know quite a few people who were let go without warning in pretty terrible circumstances so your situation is clearly not unusual (that being said, a large % of those worked at large banks where culling of staff is a normal occurrence, but still).
It's possible that your fund had or was anticipating a lot of redemption so they had to cut costs. This is happening quite a lot recently in the HF world recently. It's also possible that it was performance related and for whatever reasons (and I'm not trying to be an asshole here), they decided that they did not think you had what it takes to succeed there and decided to cut their loss and let you go. In any case, I really think you need to reach out to your manager and figure it out. This is definitely going to come up with HH and in interviews and you need to be able to explain (and I would strongly suggest against lying and coming up with a story, the HF world is small and the risk of being found out is not worth the lie).
Thanks for the feedback. I do know there was a redemption of some funds coming up towards the end of the year. It feels weird since if it was a performance issue, I wasn't given a warning or a sit down with my manager that my performance wasn't up to expectations and that all the feedback I had been getting was positive.
This post right here and anyone who works in the industry knows this.
Ignore all suggestions to the contrary. This website really needs to throw out the trash BC there are too many posters pretending to work in the industry and giving terrible advice.
Can you explain it in better words?
Like, who is from BC? What do you think about the Original Poster? And just one more thing, is the "HF world" so small as said by one of the posters?
Thanks in advance!
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