Is the Buyside Path Closed to Me After Layoff in Banking?
I’ll try to keep this brief. I was not promoted from a mid BB at the end of my 3rd Analyst year and have been looking for my next role. I graduated from a semi-target and got plenty of M&A deal reps including strong modeling experience previously and I’ve primarily been applying for jobs in IB but progress remains slow.
I’ve always had a highly curious / inquisitive mind so I find the combined analytical / game-theory nature of playing public markets very stimulating. Further down the road my goal has long been to move to either a strong L/S equity or opportunistic (across cap stack) seat at a large shop.
I’m painfully aware that my current situation is a massive setback - my question is how massive…
Assuming I find another IB role, how realistic would it be for me to be considered for strong junior analyst roles further down the line?
Is getting back into IB first the correct approach ?
I want to ensure I’m honest with myself as to whether these goals are realistic. Thanks everyone who takes the time and I’m grateful for any input.
Honest reason you were laid off? Is there any performance aspect to it (likely is) or is it actually completely market related (you were a good performer and just got fucked)?
I don’t think this is as big of an issue as you think. Layoffs are happening everywhere. If anything this should give you a lot more time to interview
Similar background to you, I was laid off in December and got 2 offers from HFs. Decided to turn them down and go back into IB though cause it was from one of GS/JPM, didn’t think it was worth turning this name brand down.
What kind of bank were you laid off from? Curious how long it took to land the new role / your process.
wondering what kind of questions were asked usually at hf interviews
Currently laid off so i can talk about your situation.
Its definitely an uphill battle for you to grab a quality L/S seat. However, you already have a 2-3 yoe which makes you a good candidate still. Some headhunters or most might drop you as soon as you tell them that you are laid off so keep this in mind. your best bet is to apply to MMs ( including p72 academy) as they hire the most and wont often need a HH.
On the other hand, you should obviously still apply to IB opps. doing a bit more of IB wont hurt you and if your end goal is LS hf, doing a junior IB role for longer wont really make a dent in your earnings trajectory. most of your earnings (assuming you will reach hf at a certain point) is back-loaded so take some time and keep applying for IB jobs as well.
overall, its a tough market out there. i myself am also taking a detour in my career due to a layoff and it does hurt to see that I might have to do a few more junior roles before i can get to where i want. but the mindset should be to keep marching forward. best of luck!
Est laboriosam non cupiditate iste facere reiciendis ab. Eum eum nisi nam aut voluptatum. Voluptatem repellendus exercitationem voluptate facilis itaque aspernatur qui.
Dolor qui blanditiis atque quam voluptas. Quia blanditiis laudantium ut impedit. Similique expedita nihil dolorum natus.
Qui voluptatem et quibusdam. Reprehenderit ab voluptatem praesentium aliquid nemo. Non quaerat eos eum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...