Fired after 6 Months, Next Steps?
Very unfortunate and I’m pretty gutted about this but per the title, just got let go after 6 months on the desk.
Unfortunately there were no warnings signs I saw and I was blindsided by this decision. Coming out of banking I was a top bucket analyst and decided that PE would be the logical next step. I was never extremely passionate about the work but I always did what I was assigned. The firm I was at (small team and LMM) had no real guardrails or structured guidance for success, so I was unaware that my job security was at risk to this extent. Looking back I was never confronted about issues severe enough for this but I’ve learned a lot about myself through this and I’m early in my career so am hoping I can bounce back stronger in a new role.
I am now committed to focusing on next steps and finding a new role. I think I would prefer to go back to familiar territory (IB coverage or ECM) but I wanted to write this to emphasize that everything in life can change in an instant. I’m grateful for the opportunity but am pretty scared about how long this will last.
Mainly looking for advice on what I should do next / if anyone has gone through a similar hurdle and/o interviewed a candidate from a similar background.
sorry to hear that... are you on good terms with your ex employers (bank)? if so you can approach them and explain the situation (say it wasn't a great fit, realized you didn't want to do it, etc.) and see if they will take you back. One of my friends had a similar story but his PE employer let him stay "employed" for 4-5mo to find a job, though he eventually went back to banking.
OP here. Left on good terms with my previous shop, but would prefer going to a new firm to start fresh
Beggars can’t be choosers.
What was the feedback you got for the firing? To be let go 6 months in you either must have been severely underperforming or there was some firm dynamics at play.
PE happens?
I'll show myself out
First, incredibly sorry to hear that! I know that is a very difficult position to be put in and you have a challenging road of self-reflection ahead of you.
Second, that is verbatim what happened to me. It almost sounds like we worked at the same LMM shop. I had a highly distressing family emergency going on as well, which played a massive role in losing the job. Nonetheless… If it’s any comfort, I feel incredibly grateful to have found a new position (much better firm, much better fit, much better people) where I got an A2A promote in under 6mo. All to say, you’re not alone, and there 100% is greener grass. Praying you find it faster than I did!
PM me if you’d like to chat live - even if you just need to let it off your chest, would love to help how I can. Know that you’re not alone!
OP here, thank you for the helpful words. Happy to know that I’m not the only person who’s gone through something like this. Check PM.
Broski - Under 1 year is on the company, and not on you, unless you were on some sort PIP which I don’t think even is possible within a year. Seems like business issues for the firm.
agreed with the above^ if not echo'd before, seen cases of former colleagues / friends going back into banking and in cases their old firm after a year or less in PE
I can totally relate to this... recently got let go within 1 year at a small LMM PE.
Not a ton of PE opportunity for my sector in my area, but the PE experience has seemed to help with securing interviews vs. last time around. Trying to figure out if I go back to banking or make the shift to Corp Dev and try to find some balance in my life
Establish a routine, get up at the same time everyday. Hit up the gym often and make progress on applying at least 6 days per week. Take 1 day off to relax and enjoy freedom.
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