Can’t find a job post firing..
Got laid off back in January from a strong group despite strong performance and been struggling ever since to land another job. I’m not sure what to do anymore. I have been reaching out to most headhunter opportunities, but after disclosing the layoff, I haven’t received any opportunities to interview.
It’s extremely frustrating as I was a strong analyst within the group. I’m reaching the stage where I’m becoming desperate as my severance is running out. Layoff was unexpected as an analyst especially since I was performing very strongly during my second year… Any advice or pointing me in the right direction would be appreciated. I’m very open to most finance opportunities at this point (initially I was focusing on GE/VC but I can’t afford to be choosy anymore).
Market uncertainty has put a dampener on recruiting. In the same boat as you, but now looking into strategic finance / corp dev roles. May need to take a step down unfortunately and just hope future employers understand given the poor macroclimate
Kill your ego and go for small boutiques.
Do you require sponsorship?
No
It’s only been a few months so it’s not terrible. I would get your story honed out. They circumstances surrounding the layoff is more important than the layoff itself. If you were the only one in your group laid off, that raises a lot of red flags and is very hard to overcome. If part of a wider layoff it is easier to spin a story but it is critical you do have a compelling story. If you were as strong an analyst as you say, then definitely hone your narrative.
Also ask your old VPs/MDs for intros to their friends at other banks if you are on good terms with them. Will go a long way if you have a warm intro.
Hey - when you ask vps / mds for the warm intros are you implying that jobs are open at banks and they just don't list them on linkedIn etc. Because when you look on job postings there is almost no analyst jobs listed. This was my goal building relationships literally sending people things as thanks after meeting second time (like people sending golf balls or wine but related to me) and notta. I appreciate any response btw
I would say 98% of the jobs that are open are not listed on linkedin. This is a very opaque relationship-driven/headhunter-driven market. So you just ask them for introductions to 1) people who may be looking to hire or 2) any friends that would be open to speaking to you - because then that friend could possibly know of something if they like you. You can even use linkedin as a targeted method to find out who your MD may know at banks in groups that you are particularly interest in that you are looking to speak to. Like ok you did TMT banking at Goldman for example - you have a pretty strong case to want to get intros into every TMT group at every other bank. And your MDs def know their counterparts at all the other banks. They will ask your MD why you were laid off of course, but as long as that part is ok, they should be open to a coffee.
Bump - in a very similar situation. I was one of the only ones impacted in my group as well and it's really hard to come up with an appropriate story
If you were bottom tier then it's very hard to craft a good story and the best bet is to downtrade and go to a worse bank. Bottom bucket at Tier 1 bank -> mid bucket at Tier 2 bank.
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